Macy’s, Inc. (NYSE:M) CEO Sells $264,606.24 in Stock

Macy’s, Inc. (NYSE:M) CEO Antony Spring sold 20,868 shares of the business’s stock in a transaction that occurred on Monday, March 31st. The shares were sold at an average price of $12.68, for a total value of $264,606.24. Following the sale, the chief executive officer now owns 321,244 shares of the company’s stock, valued at approximately $4,073,373.92. This represents a 6.10 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

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 transaction 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 transaction of $42,923.76.

Macy’s Stock Performance

NYSE M opened at $13.22 on Thursday. The company has a market capitalization of $3.67 billion, a PE ratio of 22.41 and a beta of 2.07. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.17 and a current ratio of 1.26. Macy’s, Inc. has a 52-week low of $12.48 and a 52-week high of $20.70. The company has a 50-day simple moving average of $14.30 and a 200 day simple moving average of $15.24.

Macy’s (NYSE:M) last issued its quarterly earnings results on Thursday, March 6th. The company reported $1.80 earnings per share (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 analyst estimates of $7.76 billion. On average, research analysts predict that Macy’s, Inc. will post 2.39 EPS for the current year.

Macy’s Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th were given a dividend of $0.1824 per share. This represents a $0.73 dividend on an annualized basis and a dividend yield of 5.52%. The ex-dividend date of this dividend was Friday, March 14th. This is a boost 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

A number of equities research analysts recently weighed in on M shares. Citigroup lowered their target price on shares of Macy’s from $16.00 to $14.00 and set a “neutral” rating on the stock in a report on Friday, March 7th. Telsey Advisory Group reissued a “market perform” rating and issued a $15.00 price objective on shares of Macy’s in a research note on Wednesday. Morgan Stanley set a $14.00 target price on Macy’s in a research report on Monday, March 10th. StockNews.com raised Macy’s from a “hold” rating to a “buy” rating in a research report on Friday, February 14th. Finally, Benchmark raised shares of Macy’s to a “strong-buy” rating in a report on Monday, February 3rd. One research analyst has rated the stock with a sell rating, ten have issued a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $15.30.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in M. Coldstream Capital Management Inc. grew its position in shares of Macy’s by 4.9% during the 4th quarter. Coldstream Capital Management Inc. now owns 15,442 shares of the company’s stock valued at $261,000 after purchasing an additional 717 shares in the last quarter. Treasurer of the State of North Carolina boosted its stake in Macy’s by 0.6% during the fourth quarter. Treasurer of the State of North Carolina now owns 120,414 shares of the company’s stock valued at $2,039,000 after buying an additional 760 shares during the period. Quantinno Capital Management LP grew its position in Macy’s by 0.9% during the fourth quarter. Quantinno Capital Management LP now owns 102,538 shares of the company’s stock worth $1,736,000 after buying an additional 872 shares in the last quarter. ProShare Advisors LLC raised its holdings in shares of Macy’s by 7.7% in the 4th quarter. ProShare Advisors LLC now owns 12,978 shares of the company’s stock valued at $220,000 after acquiring an additional 924 shares in the last quarter. Finally, Arizona State Retirement System raised its holdings in shares of Macy’s by 1.2% in the 4th quarter. Arizona State Retirement System now owns 80,549 shares of the company’s stock valued at $1,364,000 after acquiring an additional 958 shares in the last quarter. Institutional investors own 87.36% of the company’s stock.

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.