Insider Selling: Macy’s, Inc. (NYSE:M) CEO Sells 3,124 Shares of Stock

Macy’s, Inc. (NYSE:M) CEO Antony Spring sold 3,124 shares of the stock in a transaction on Tuesday, March 25th. The stock was sold at an average price of $13.74, for a total value of $42,923.76. Following the transaction, the chief executive officer now directly owns 272,680 shares in the company, valued at approximately $3,746,623.20. This represents a 1.13 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Macy’s Trading Down 3.0 %

NYSE:M opened at $12.79 on Friday. The business’s 50-day moving average is $14.38 and its two-hundred day moving average is $15.27. The firm has a market capitalization of $3.55 billion, a PE ratio of 21.67 and a beta of 2.07. Macy’s, Inc. has a 12 month low of $12.60 and a 12 month high of $20.70. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.26 and a quick ratio of 0.17.

Macy’s (NYSE:M) last announced its earnings results on Thursday, March 6th. The company reported $1.80 EPS for the quarter, beating the consensus estimate of $1.55 by $0.25. The business had revenue of $7.77 billion for the quarter, compared to the consensus estimate of $7.76 billion. Macy’s had a return on equity of 21.99% and a net margin of 0.73%. Research analysts predict that Macy’s, Inc. will post 2.39 earnings per share for the current fiscal year.

Macy’s Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be paid a $0.1824 dividend. The ex-dividend date is Friday, March 14th. This is an increase from Macy’s’s previous quarterly dividend of $0.17. This represents a $0.73 annualized dividend and a dividend yield of 5.71%. Macy’s’s dividend payout ratio is 35.44%.

Analysts Set New Price Targets

Several research firms recently weighed in on M. Morgan Stanley set a $14.00 target price on Macy’s in a research report on Monday, March 10th. Gordon Haskett lowered shares of Macy’s from an “accumulate” rating to a “hold” rating in a report on Thursday, March 6th. New Street Research set a $13.00 target price on shares of Macy’s in a research report on Thursday, March 6th. Telsey Advisory Group set a $15.00 price target on shares of Macy’s in a research report on Friday, March 7th. Finally, StockNews.com upgraded shares of Macy’s from a “hold” rating to a “buy” rating in a report on Friday, February 14th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $15.30.

Institutional Investors Weigh In On Macy’s

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Trifecta Capital Advisors LLC acquired a new position in shares of Macy’s in the 4th quarter valued at approximately $34,000. Quest Partners LLC bought a new stake in shares of Macy’s in the third quarter worth $35,000. Jones Financial Companies Lllp increased its stake in shares of Macy’s by 82.1% in the fourth quarter. Jones Financial Companies Lllp now owns 2,149 shares of the company’s stock worth $36,000 after buying an additional 969 shares during the last quarter. Kestra Investment Management LLC acquired a new stake in Macy’s in the fourth quarter valued at $38,000. Finally, Bessemer Group Inc. boosted its stake in Macy’s by 495.5% during the 4th quarter. Bessemer Group Inc. now owns 3,412 shares of the company’s stock valued at $58,000 after acquiring an additional 2,839 shares during the last quarter. Hedge funds and other institutional investors own 87.36% of the company’s stock.

About Macy’s

Macy’s, Inc engages in the retail of apparel, accessories, cosmetics, home furnishings, and other consumer goods. The firm’s brands include Macy’s, Bloomingdale’s, and Bluemercury. It offers men’s, women’s, and children’s apparel, women’s accessories, intimate apparel, shoes, cosmetics, fragrances, as well as home and miscellaneous products.