Insider Selling: Macy’s, Inc. (NYSE:M) CEO Sells $58,512.14 in Stock

Macy’s, Inc. (NYSE:M) CEO Antony Spring sold 4,582 shares of the company’s stock in a transaction dated Friday, March 28th. The stock was sold at an average price of $12.77, for a total value of $58,512.14. Following the completion of the transaction, the chief executive officer now directly owns 288,961 shares in the company, valued at approximately $3,690,031.97. The trade was a 1.56 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

• On Monday, March 31st, Antony Spring sold 20,868 shares of Macy’s stock. The stock was sold at an average price of $12.68, for a total value of $264,606.24.
• 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 Price Performance

Shares of Macy’s stock opened at $13.22 on Thursday. The firm has a fifty day moving average price of $14.30 and a two-hundred day moving average price of $15.24. Macy’s, Inc. has a fifty-two week low of $12.48 and a fifty-two week 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. The company has a market cap of $3.67 billion, a PE ratio of 22.41 and a beta of 2.07.

Macy’s (NYSE:M) last released its earnings results on Thursday, March 6th. The company reported $1.80 earnings per share for the quarter, topping analysts’ consensus estimates 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%. Analysts expect that Macy’s, Inc. will post 2.39 EPS for the current year.

Macy’s Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Friday, March 14th were paid a $0.1824 dividend. This represents a $0.73 dividend on an annualized basis and a dividend yield of 5.52%. This is a positive change from Macy’s’s previous quarterly dividend of $0.17. The ex-dividend date of this dividend was Friday, March 14th. Macy’s’s dividend payout ratio is presently 35.44%.

Institutional Investors Weigh In On Macy’s

A number of institutional investors have recently bought and sold shares of the business. Dimensional Fund Advisors LP grew its stake in shares of Macy’s by 7.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 15,751,211 shares of the company’s stock valued at $266,666,000 after purchasing an additional 1,149,454 shares during the period. Cooper Creek Partners Management LLC grew its position in Macy’s by 26.2% in the fourth quarter. Cooper Creek Partners Management LLC now owns 7,838,240 shares of the company’s stock valued at $132,701,000 after acquiring an additional 1,627,572 shares during the period. FMR LLC raised its stake in Macy’s by 59.9% during the fourth quarter. FMR LLC now owns 7,503,742 shares of the company’s stock worth $127,038,000 after acquiring an additional 2,812,151 shares in the last quarter. American Century Companies Inc. lifted its holdings in shares of Macy’s by 12.2% during the fourth quarter. American Century Companies Inc. now owns 7,137,132 shares of the company’s stock valued at $120,832,000 after acquiring an additional 774,693 shares during the period. Finally, Norges Bank acquired a new stake in shares of Macy’s in the 4th quarter valued at $96,689,000. Institutional investors and hedge funds own 87.36% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently weighed in on M shares. Cowen restated a “hold” rating on shares of Macy’s in a report on Friday, March 7th. Guggenheim restated a “neutral” rating on shares of Macy’s in a report on Thursday, December 12th. Morgan Stanley set a $14.00 price target on Macy’s in a research note on Monday, March 10th. Benchmark raised Macy’s to a “strong-buy” rating in a research note on Monday, February 3rd. Finally, JPMorgan Chase & Co. cut Macy’s from an “overweight” rating to a “neutral” rating and decreased their target price for the stock from $19.00 to $14.00 in a research report on Thursday, March 6th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Macy’s presently has an average rating of “Hold” and an average price target of $15.30.

Macy’s Company Profile

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.