Macy’s, Inc. (NYSE:M) CEO Sells 20,868 Shares

Macy’s, Inc. (NYSE:M) CEO Antony Spring sold 20,868 shares of the stock in a transaction on Monday, March 31st. The shares were sold at an average price of $12.68, for a total transaction of $264,606.24. Following the transaction, the chief executive officer now directly owns 321,244 shares in the company, valued at approximately $4,073,373.92. This represents a 6.10 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

Antony Spring also recently made the following trade(s):

• On Friday, March 28th, Antony Spring sold 4,582 shares of Macy’s stock. The stock was sold at an average price of $12.77, for a total value of $58,512.14.
• On Tuesday, March 25th, Antony Spring sold 3,124 shares of Macy’s stock. The shares were sold at an average price of $13.74, for a total transaction of $42,923.76.

Macy’s Trading Down 1.7 %

Shares of Macy’s stock opened at $12.60 on Tuesday. The company has a current ratio of 1.26, a quick ratio of 0.17 and a debt-to-equity ratio of 0.67. The firm’s 50-day moving average price is $14.36 and its 200 day moving average price is $15.26. The firm has a market capitalization of $3.50 billion, a PE ratio of 21.35 and a beta of 2.07. Macy’s, Inc. has a twelve month low of $12.48 and a twelve month high of $20.70.

Macy’s (NYSE:M) last issued its earnings results on Thursday, March 6th. The company reported $1.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.55 by $0.25. The company had revenue of $7.77 billion during the quarter, compared to analysts’ expectations of $7.76 billion. Macy’s had a return on equity of 21.99% and a net margin of 0.73%. On average, sell-side analysts predict that Macy’s, Inc. will post 2.39 EPS 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. Investors of record on Friday, March 14th will be paid a dividend of $0.1824 per share. This is a positive change from Macy’s’s previous quarterly dividend of $0.17. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.73 annualized dividend and a yield of 5.79%. Macy’s’s dividend payout ratio is presently 35.44%.

Institutional Investors Weigh In On Macy’s

A number of hedge funds have recently added to or reduced their stakes in M. Wealth Enhancement Advisory Services LLC lifted its stake in Macy’s by 22.8% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 28,731 shares of the company’s stock worth $486,000 after acquiring an additional 5,332 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in shares of Macy’s during the fourth quarter worth about $2,591,000. Forum Financial Management LP acquired a new position in Macy’s during the fourth quarter worth approximately $177,000. Vise Technologies Inc. increased its holdings in shares of Macy’s by 37.2% in the 4th quarter. Vise Technologies Inc. now owns 23,129 shares of the company’s stock valued at $392,000 after acquiring an additional 6,266 shares during the period. Finally, MidWestOne Financial Group Inc. raised its holdings in shares of Macy’s by 14.5% in the fourth quarter. MidWestOne Financial Group Inc. now owns 135,646 shares of the company’s stock valued at $2,296,000 after buying an additional 17,167 shares during the last quarter. 87.36% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

M has been the subject of a number of recent analyst reports. StockNews.com upgraded Macy’s from a “hold” rating to a “buy” rating in a report on Friday, February 14th. Morgan Stanley set a $14.00 price objective on shares of Macy’s in a research report on Monday, March 10th. Citigroup cut their price objective on shares of Macy’s from $16.00 to $14.00 and set a “neutral” rating for the company in a report on Friday, March 7th. Gordon Haskett cut Macy’s from an “accumulate” rating to a “hold” rating in a report on Thursday, March 6th. Finally, Guggenheim restated a “neutral” rating on shares of Macy’s in a research report on Thursday, December 12th. One research analyst has rated the stock with a sell rating, ten have given a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $15.30.

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.