Antony Spring Sells 50,044 Shares of Macy’s (NYSE:M) Stock

Macy’s, Inc. (NYSE:M) CEO Antony Spring sold 50,044 shares of the company’s stock in a transaction dated Monday, April 6th. The shares were sold at an average price of $17.92, for a total value of $896,788.48. Following the sale, the chief executive officer owned 485,791 shares in the company, valued at approximately $8,705,374.72. The trade was a 9.34% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

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

• On Wednesday, April 1st, Antony Spring sold 14,606 shares of Macy’s stock. The stock was sold at an average price of $18.08, for a total value of $264,076.48.

Macy’s Stock Down 0.2%

NYSE:M traded down $0.03 on Tuesday, hitting $18.10. The stock had a trading volume of 4,733,326 shares, compared to its average volume of 7,639,447. The company has a market cap of $4.77 billion, a PE ratio of 7.80 and a beta of 1.51. Macy’s, Inc. has a 52 week low of $9.76 and a 52 week high of $24.41. The business’s fifty day moving average is $19.55 and its 200 day moving average is $20.19. The company has a quick ratio of 0.50, a current ratio of 1.49 and a debt-to-equity ratio of 0.50.

Macy’s (NYSE:M) last issued its quarterly earnings results on Wednesday, March 18th. The company reported $1.67 EPS for the quarter, beating analysts’ consensus estimates of $1.55 by $0.12. Macy’s had a return on equity of 14.22% and a net margin of 2.84%.The company had revenue of $7.92 billion during the quarter, compared to the consensus estimate of $7.48 billion. During the same period last year, the business posted $1.80 earnings per share. Macy’s’s revenue was down 1.7% on a year-over-year basis. On average, equities 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 declared a quarterly dividend, which was paid on Wednesday, April 1st. Shareholders of record on Friday, March 13th were given a dividend of $0.1915 per share. The ex-dividend date was Friday, March 13th. This is a positive change from Macy’s’s previous quarterly dividend of $0.18. This represents a $0.77 dividend on an annualized basis and a yield of 4.2%. Macy’s’s dividend payout ratio (DPR) is 33.19%.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Telsey Advisory Group restated a “market perform” rating and set a $20.00 price target on shares of Macy’s in a report on Wednesday, April 1st. Guggenheim assumed coverage on Macy’s in a report on Tuesday, December 9th. They set a “neutral” rating on the stock. Citigroup reduced their price target on Macy’s from $24.00 to $18.00 and set a “neutral” rating on the stock in a report on Thursday, March 19th. Weiss Ratings restated a “hold (c)” rating on shares of Macy’s in a report on Friday, March 27th. Finally, TD Cowen reduced their price target on Macy’s from $21.00 to $20.00 and set a “hold” rating on the stock in a report on Thursday, March 19th. One investment analyst has rated the stock with a Buy rating, ten have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Macy’s currently has an average rating of “Reduce” and an average target price of $18.90.

Institutional Trading of Macy’s

A number of hedge funds have recently made changes to their positions in the stock. Strengthening Families & Communities LLC purchased a new position in Macy’s in the 4th quarter worth approximately $28,000. V Square Quantitative Management LLC purchased a new stake in Macy’s during the 4th quarter valued at $29,000. Cullen Frost Bankers Inc. purchased a new stake in Macy’s during the 3rd quarter valued at $31,000. Smartleaf Asset Management LLC raised its stake in Macy’s by 51.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,543 shares of the company’s stock valued at $34,000 after buying an additional 526 shares during the last quarter. Finally, Bessemer Group Inc. raised its stake in Macy’s by 41.4% during the 3rd quarter. Bessemer Group Inc. now owns 2,023 shares of the company’s stock valued at $37,000 after buying an additional 592 shares during the last quarter. 87.36% of the stock is owned by institutional investors.

Macy’s Company Profile

Macy’s, Inc is a leading American omnichannel retailer operating under the Macy’s brand, as well as specialty divisions Bloomingdale’s and Bluemercury. The company’s retail portfolio encompasses full-line department stores, fashion-focused specialty outlets and a high-end beauty chain, offering consumers a wide array of apparel, footwear, accessories, cosmetics and home furnishings. Through its integrated network of physical stores and digital platforms, Macy’s seeks to deliver a seamless shopping experience that blends in-store service with online convenience.

The company’s product assortment spans men’s, women’s and children’s clothing, beauty and personal care products, housewares and home décor.