Antony Spring Sells 3,124 Shares of Macy’s, Inc. (NYSE:M) Stock

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

Macy’s Stock Down 0.8 %

Shares of M stock opened at $13.17 on Friday. Macy’s, Inc. has a twelve month low of $12.60 and a twelve month high of $20.70. The stock has a market cap of $3.66 billion, a P/E ratio of 22.31 and a beta of 2.07. The stock has a 50 day moving average of $14.41 and a 200 day moving average of $15.28. The company has a current ratio of 1.26, a quick ratio of 0.17 and a debt-to-equity ratio of 0.67.

Macy’s (NYSE:M) last posted its earnings results on Thursday, March 6th. The company reported $1.80 earnings per share for the quarter, beating the consensus estimate of $1.55 by $0.25. Macy’s had a net margin of 0.73% and a return on equity of 21.99%. The firm had revenue of $7.77 billion during the quarter, compared to analyst estimates of $7.76 billion. As a group, sell-side analysts expect that Macy’s, Inc. will post 2.39 EPS for the current year.

Macy’s Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be given a $0.1824 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.73 dividend on an annualized basis and a dividend yield of 5.54%. This is an increase from Macy’s’s previous quarterly dividend of $0.17. Macy’s’s dividend payout ratio is 35.44%.

Institutional Investors Weigh In On Macy’s

A number of institutional investors have recently modified their holdings of M. Trifecta Capital Advisors LLC acquired a new position in Macy’s during the fourth quarter worth $34,000. Jones Financial Companies Lllp raised its position in shares of Macy’s by 82.1% during the 4th quarter. Jones Financial Companies Lllp now owns 2,149 shares of the company’s stock worth $36,000 after purchasing an additional 969 shares during the last quarter. Quest Partners LLC purchased a new position in Macy’s in the 3rd quarter valued at about $35,000. Kestra Investment Management LLC acquired a new stake in Macy’s in the 4th quarter worth about $38,000. Finally, Bessemer Group Inc. boosted its holdings in Macy’s by 495.5% in the 4th quarter. Bessemer Group Inc. now owns 3,412 shares of the company’s stock worth $58,000 after buying an additional 2,839 shares during the last quarter. 87.36% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

M has been the topic of a number of recent analyst reports. StockNews.com upgraded shares of Macy’s from a “hold” rating to a “buy” rating in a research note on Friday, February 14th. UBS Group cut their target price on Macy’s from $9.00 to $8.00 and set a “sell” rating on the stock in a research report on Friday, March 7th. Gordon Haskett cut Macy’s from an “accumulate” rating to a “hold” rating in a research report on Thursday, March 6th. New Street Research set a $13.00 price target on Macy’s in a research note on Thursday, March 6th. Finally, JPMorgan Chase & Co. cut Macy’s from an “overweight” rating to a “neutral” rating and reduced their price objective for the stock from $19.00 to $14.00 in a research note on Thursday, March 6th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price 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.