Macy’s, Inc. (NYSE:M) CEO Antony Spring Sells 3,075 Shares

Macy’s, Inc. (NYSE:M) CEO Antony Spring sold 3,075 shares of Macy’s stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $20.28, for a total transaction of $62,361.00. Following the transaction, the chief executive officer now owns 228,750 shares of the company’s stock, valued at $4,639,050. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

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

• On Friday, March 22nd, Antony Spring sold 13,404 shares of Macy’s stock. The stock was sold at an average price of $20.42, for a total transaction of $273,709.68.

Macy’s Stock Up 4.0 %

Shares of Macy’s stock opened at $19.85 on Thursday. The stock has a 50-day simple moving average of $19.43 and a 200-day simple moving average of $16.30. Macy’s, Inc. has a 52-week low of $10.54 and a 52-week high of $22.10. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.37 and a quick ratio of 0.39. The firm has a market cap of $5.44 billion, a price-to-earnings ratio of 53.64 and a beta of 2.14.

Macy’s (NYSE:M) last released its quarterly earnings data on Tuesday, February 27th. The company reported $2.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.98 by $0.47. Macy’s had a return on equity of 23.34% and a net margin of 0.45%. The business had revenue of $8.12 billion for the quarter, compared to analysts’ expectations of $8.07 billion. During the same period in the previous year, the business posted $1.88 earnings per share. Macy’s’s quarterly revenue was down 1.7% on a year-over-year basis. On average, equities research analysts expect that Macy’s, Inc. will post 2.57 earnings per share for the current fiscal year.

Macy’s Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, April 1st. Shareholders of record on Friday, March 15th will be paid a $0.1737 dividend. This is a positive change from Macy’s’s previous quarterly dividend of $0.17. The ex-dividend date is Thursday, March 14th. This represents a $0.69 annualized dividend and a yield of 3.50%. Macy’s’s dividend payout ratio is presently 186.49%.

Institutional Investors Weigh In On Macy’s

Several large investors have recently modified their holdings of the business. Glassman Wealth Services increased its position in shares of Macy’s by 154.5% during the 4th quarter. Glassman Wealth Services now owns 1,224 shares of the company’s stock worth $25,000 after purchasing an additional 743 shares during the last quarter. Lindbrook Capital LLC lifted its position in shares of Macy’s by 253.1% during the 4th quarter. Lindbrook Capital LLC now owns 1,317 shares of the company’s stock valued at $26,000 after acquiring an additional 944 shares during the period. FinTrust Capital Advisors LLC bought a new stake in shares of Macy’s during the 4th quarter valued at $26,000. Atlas Capital Advisors LLC acquired a new position in shares of Macy’s during the 4th quarter worth $29,000. Finally, Quarry LP acquired a new position in shares of Macy’s during the 1st quarter worth $33,000. 87.36% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. TD Cowen lowered shares of Macy’s from an “outperform” rating to a “market perform” rating and decreased their price target for the stock from $23.00 to $20.00 in a research note on Thursday, February 29th. StockNews.com started coverage on shares of Macy’s in a research report on Saturday, March 23rd. They issued a “hold” rating for the company. The Goldman Sachs Group boosted their target price on shares of Macy’s from $16.00 to $22.00 and gave the stock a “buy” rating in a research report on Wednesday, February 28th. Morgan Stanley decreased their price objective on shares of Macy’s from $21.00 to $20.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 28th. Finally, Telsey Advisory Group lifted their price target on shares of Macy’s from $15.00 to $21.00 and gave the company a “market perform” rating in a research report on Wednesday, February 28th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $17.45.

Macy’s Company Profile

Macy's, Inc, an omni-channel retail organization, operates stores, websites, and mobile applications in the United States. The company sells a range of merchandise, such as apparel and accessories for men, women, and kids; cosmetics; home furnishings; and other consumer goods under the Macy's, Bloomingdale's, and bluemercury brands.