Macy’s, Inc. (NYSE:M) CEO Sells $42,923.76 in Stock

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

Macy’s Stock Performance

NYSE M opened at $12.79 on Friday. The business has a 50 day moving average price of $14.38 and a 200 day moving average price of $15.27. 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 capitalization of $3.55 billion, a P/E ratio of 21.67 and a beta of 2.07. Macy’s, Inc. has a 1-year low of $12.60 and a 1-year high of $20.70.

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. The company had revenue of $7.77 billion for the quarter, compared to analyst estimates of $7.76 billion. Macy’s had a return on equity of 21.99% and a net margin of 0.73%. Sell-side analysts expect that Macy’s, Inc. will post 2.39 EPS for the current fiscal year.

Macy’s Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be given a $0.1824 dividend. The ex-dividend date is Friday, March 14th. This is a positive change 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 currently 35.44%.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Charles Schwab Investment Management Inc. lifted its stake in Macy’s by 4.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,661,876 shares of the company’s stock valued at $41,765,000 after buying an additional 118,626 shares in the last quarter. FMR LLC raised its holdings in shares of Macy’s by 4.4% in the third quarter. FMR LLC now owns 4,691,591 shares of the company’s stock worth $73,611,000 after acquiring an additional 195,880 shares during the last quarter. Virtu Financial LLC purchased a new stake in shares of Macy’s in the third quarter valued at $594,000. HB Wealth Management LLC boosted its stake in shares of Macy’s by 724.1% during the fourth quarter. HB Wealth Management LLC now owns 103,584 shares of the company’s stock valued at $1,754,000 after acquiring an additional 91,015 shares during the last quarter. Finally, Alerus Financial NA purchased a new stake in Macy’s during the 3rd quarter worth about $2,144,000. 87.36% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

M has been the topic of a number of recent research reports. Citigroup dropped their target price on Macy’s from $16.00 to $14.00 and set a “neutral” rating on the stock in a report on Friday, March 7th. Guggenheim reissued a “neutral” rating on shares of Macy’s in a research note on Thursday, December 12th. Morgan Stanley set a $14.00 target price on shares of Macy’s in a research note on Monday, March 10th. Benchmark upgraded shares of Macy’s to a “strong-buy” rating in a research note on Monday, February 3rd. Finally, UBS Group reduced their price objective on shares of Macy’s from $9.00 to $8.00 and set a “sell” rating for the company in a research report on Friday, March 7th. One equities 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. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price 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.