Antony Spring Sells 20,868 Shares of Macy’s, Inc. (NYSE:M) Stock

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

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

• On Friday, March 28th, Antony Spring sold 4,582 shares of Macy’s stock. The shares were 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 value of $42,923.76.

Macy’s Price Performance

Shares of NYSE M opened at $12.87 on Wednesday. The stock has a fifty day moving average price of $14.32 and a 200 day moving average price of $15.25. Macy’s, Inc. has a 1-year low of $12.48 and a 1-year 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 $3.57 billion, a PE ratio of 21.81 and a beta of 2.07.

Macy’s (NYSE:M) last released its earnings results on Thursday, March 6th. The company reported $1.80 EPS for the quarter, topping 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 company had revenue of $7.77 billion during the quarter, compared to analysts’ expectations of $7.76 billion. Sell-side analysts forecast that Macy’s, Inc. will post 2.39 EPS for the current year.

Macy’s Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th were given a dividend of $0.1824 per share. This is a boost from Macy’s’s previous quarterly dividend of $0.17. The ex-dividend date was Friday, March 14th. This represents a $0.73 annualized dividend and a yield of 5.67%. Macy’s’s payout ratio is presently 35.44%.

Analyst Ratings Changes

A number of equities analysts recently issued reports on M shares. Morgan Stanley set a $14.00 price target on Macy’s in a report on Monday, March 10th. Telsey Advisory Group set a $15.00 target price on shares of Macy’s in a report on Friday, March 7th. UBS Group cut their price target on shares of Macy’s from $9.00 to $8.00 and set a “sell” rating on the stock in a research note on Friday, March 7th. Cowen reissued a “hold” rating on shares of Macy’s in a research report on Friday, March 7th. Finally, Guggenheim reaffirmed a “neutral” rating on shares of Macy’s in a report on Thursday, December 12th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $15.30.

Institutional Trading of Macy’s

Several hedge funds have recently modified their holdings of the business. Norges Bank acquired a new stake in shares of Macy’s in the fourth quarter valued at about $96,689,000. Junto Capital Management LP purchased a new stake in shares of Macy’s during the 4th quarter worth approximately $48,775,000. FMR LLC grew its holdings in shares of Macy’s by 59.9% in the 4th 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 during the period. Marshall Wace LLP increased its stake in Macy’s by 1,230.8% in the 4th quarter. Marshall Wace LLP now owns 2,387,193 shares of the company’s stock valued at $40,415,000 after purchasing an additional 2,207,809 shares in the last quarter. Finally, Cooper Creek Partners Management LLC raised its holdings in Macy’s by 26.2% during the fourth quarter. Cooper Creek Partners Management LLC now owns 7,838,240 shares of the company’s stock worth $132,701,000 after purchasing an additional 1,627,572 shares during the last quarter. 87.36% of the stock is owned by institutional investors and hedge funds.

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.