Macy’s (NYSE:M) CEO Olivier Bron Sells 7,228 Shares of Stock

Macy’s, Inc. (NYSE:M) CEO Olivier Bron sold 7,228 shares of Macy’s stock in a transaction dated Monday, April 6th. The shares were sold at an average price of $17.92, for a total transaction of $129,525.76. Following the completion of the sale, the chief executive officer directly owned 21,590 shares in the company, valued at approximately $386,892.80. The trade was a 25.08% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Macy’s Stock Down 0.2%

Shares of NYSE:M opened at $18.10 on Wednesday. The company has a market cap of $4.77 billion, a price-to-earnings ratio of 7.80 and a beta of 1.51. The firm’s 50-day simple moving average is $19.51 and its 200-day simple 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, Inc. has a fifty-two week low of $9.76 and a fifty-two week high of $24.41.

Macy’s (NYSE:M) last issued its earnings results on Wednesday, March 18th. The company reported $1.67 earnings per share for the quarter, beating the consensus estimate of $1.55 by $0.12. The business had revenue of $7.92 billion for the quarter, compared to the consensus estimate of $7.48 billion. Macy’s had a net margin of 2.84% and a return on equity of 14.22%. The business’s quarterly revenue was down 1.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.80 earnings per share. As a group, equities research analysts predict that Macy’s, Inc. will post 2.39 earnings per share for the current year.

Macy’s Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 1st. Investors of record on Friday, March 13th were paid a $0.1915 dividend. This represents a $0.77 annualized dividend and a dividend yield of 4.2%. This is a positive change from Macy’s’s previous quarterly dividend of $0.18. The ex-dividend date was Friday, March 13th. Macy’s’s dividend payout ratio (DPR) is 33.19%.

Institutional Investors Weigh In On Macy’s

A number of institutional investors have recently bought and sold shares of the stock. Hsbc Holdings PLC grew its holdings in Macy’s by 112.1% in the fourth quarter. Hsbc Holdings PLC now owns 383,947 shares of the company’s stock valued at $8,442,000 after purchasing an additional 202,906 shares during the period. Corient Private Wealth LLC grew its holdings in Macy’s by 51.9% in the fourth quarter. Corient Private Wealth LLC now owns 292,216 shares of the company’s stock valued at $6,444,000 after purchasing an additional 99,832 shares during the period. Pacer Advisors Inc. grew its holdings in Macy’s by 1,859.1% in the fourth quarter. Pacer Advisors Inc. now owns 1,337,481 shares of the company’s stock valued at $29,491,000 after purchasing an additional 1,269,211 shares during the period. Kera Capital Partners Inc. purchased a new stake in Macy’s in the fourth quarter valued at approximately $271,000. Finally, Mercer Global Advisors Inc. ADV grew its holdings in Macy’s by 420.3% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 66,243 shares of the company’s stock valued at $1,461,000 after purchasing an additional 53,512 shares during the period. 87.36% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

M has been the subject of several recent analyst reports. Weiss Ratings reiterated a “hold (c)” rating on shares of Macy’s in a research note on Friday, March 27th. UBS Group raised their price objective on shares of Macy’s from $8.00 to $9.00 and gave the company a “sell” rating in a research note on Monday, March 9th. Guggenheim initiated coverage on shares of Macy’s in a research note on Tuesday, December 9th. They issued a “neutral” rating for the company. JPMorgan Chase & Co. reduced their price objective on shares of Macy’s from $24.00 to $21.00 and set a “neutral” rating for the company in a research note on Wednesday, March 18th. Finally, Jefferies Financial Group reiterated a “buy” rating and issued a $22.00 price objective on shares of Macy’s in a research note on Wednesday, March 18th. One analyst has rated the stock with a Buy rating, ten have issued a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Reduce” and a consensus price target of $18.90.

Trending Headlines about Macy’s

Here are the key news stories impacting Macy’s this week:

• Positive Sentiment: Intraday market note showed a small uptick for Macy’s on April 6, with Schaeffer’s reporting the shares about 0.6% higher at $17.92 — a short-term bullish signal for momentum traders. Retail Stock Could Be Ready to Burn Options Bears
• Neutral Sentiment: Multiple insiders sold shares on April 6 to cover tax withholding tied to equity vesting — quantity and owners: Paul Griscom (745 shares), Tracy M. Preston (5,271), Olivier Bron (7,228), Danielle L. Kirgan (10,010), and Antony Spring (50,044). These are disclosed Form 4 sales at an average price ? $17.92; because filings state the sales were for tax purposes (not discretionary diversification), the transactions are more likely sentiment-neutral than a signal of fundamental concern. Filings: Paul Griscom (SEC filing – Paul Griscom), Tracy Preston (SEC filing – Tracy M. Preston), Olivier Bron (SEC filing – Olivier Bron), Danielle Kirgan (SEC filing – Danielle L. Kirgan), Antony Spring (SEC filing – Antony Spring).

About Macy’s

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.