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

Macy’s, Inc. (NYSE:M) CEO Antony Spring sold 20,868 shares of the company’s stock in a transaction dated Monday, March 31st. The stock was sold at an average price of $12.68, for a total value of $264,606.24. Following the completion of the transaction, the chief executive officer now directly owns 321,244 shares of the company’s stock, valued at approximately $4,073,373.92. The trade was a 6.10 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through 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 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 stock was sold at an average price of $13.74, for a total transaction of $42,923.76.

Macy’s Price Performance

M stock opened at $12.60 on Tuesday. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.17 and a current ratio of 1.26. The business has a 50-day simple moving average of $14.36 and a two-hundred day simple moving average of $15.26. The company has a market capitalization of $3.50 billion, a P/E ratio of 21.35 and a beta of 2.07. Macy’s, Inc. has a 52-week low of $12.48 and a 52-week high of $20.70.

Macy’s (NYSE:M) last announced 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 for 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%. Research analysts expect 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. Stockholders of record on Friday, March 14th will be issued a $0.1824 dividend. The ex-dividend date is Friday, March 14th. This represents a $0.73 annualized dividend and a dividend yield of 5.79%. This is an increase from Macy’s’s previous quarterly dividend of $0.17. Macy’s’s dividend payout ratio is currently 35.44%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. StockNews.com raised shares of Macy’s from a “hold” rating to a “buy” rating in a research note on Friday, February 14th. Guggenheim reaffirmed a “neutral” rating on shares of Macy’s in a research report on Thursday, December 12th. Citigroup reduced their price objective on shares of Macy’s from $16.00 to $14.00 and set a “neutral” rating on the stock in a research note on Friday, March 7th. Cowen reiterated a “hold” rating on shares of Macy’s in a report on Friday, March 7th. Finally, New Street Research set a $13.00 price objective on shares of Macy’s in a research report on Thursday, March 6th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Macy’s currently has an average rating of “Hold” and a consensus target price of $15.30.

Institutional Inflows and Outflows

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

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.