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

Macy’s, Inc. (NYSE:M) CEO Antony Spring sold 20,868 shares of the stock in a transaction that occurred on Monday, March 31st. The stock was 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 in the company, valued at approximately $4,073,373.92. This trade represents a 6.10 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available 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 shares were 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 Stock Performance

NYSE:M traded down $0.22 during mid-day trading on Monday, hitting $12.60. 6,535,153 shares of the stock were exchanged, compared to its average volume of 6,063,796. The firm’s 50-day simple moving average is $14.38 and its 200 day simple moving average is $15.28. The stock has a market capitalization of $3.50 billion, a price-to-earnings ratio of 21.35 and a beta of 2.07. Macy’s, Inc. has a fifty-two week low of $12.48 and a fifty-two week high of $20.70. 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 (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 analysts’ consensus estimates of $1.55 by $0.25. The business had revenue of $7.77 billion for the quarter, compared to the consensus estimate of $7.76 billion. Macy’s had a return on equity of 21.99% and a net margin of 0.73%. As a group, equities analysts anticipate that Macy’s, Inc. will post 2.39 EPS for the current fiscal year.

Macy’s Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be given a dividend of $0.1824 per share. This is a boost from Macy’s’s previous quarterly dividend of $0.17. The ex-dividend date is Friday, March 14th. This represents a $0.73 annualized dividend and a yield of 5.79%. Macy’s’s dividend payout ratio is currently 35.44%.

Wall Street Analysts Forecast Growth

M has been the subject of a number of recent analyst reports. Morgan Stanley set a $14.00 price objective on Macy’s in a report on Monday, March 10th. The Goldman Sachs Group lowered their price target on Macy’s from $19.00 to $17.00 and set a “buy” rating for the company in a report on Friday, March 7th. Cowen reiterated a “hold” rating on shares of Macy’s in a report on Friday, March 7th. Guggenheim reissued a “neutral” rating on shares of Macy’s in a research note on Thursday, December 12th. Finally, New Street Research set a $13.00 price target on Macy’s in a research note on Thursday, March 6th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $15.30.

Institutional Investors Weigh In On Macy’s

A number of large investors have recently bought and sold shares of the company. Quest Partners LLC acquired a new position in shares of Macy’s during the 3rd quarter worth $35,000. Charles Schwab Investment Management Inc. boosted its stake in shares of Macy’s by 4.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,661,876 shares of the company’s stock valued at $41,765,000 after purchasing an additional 118,626 shares in the last quarter. FMR LLC grew its holdings in shares of Macy’s by 4.4% during the 3rd quarter. FMR LLC now owns 4,691,591 shares of the company’s stock valued at $73,611,000 after purchasing an additional 195,880 shares during the last quarter. BNP Paribas Financial Markets lifted its stake in Macy’s by 8.4% in the 3rd quarter. BNP Paribas Financial Markets now owns 362,508 shares of the company’s stock valued at $5,688,000 after purchasing an additional 27,985 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Macy’s by 8.1% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 63,751 shares of the company’s stock valued at $1,000,000 after buying an additional 4,783 shares in the last quarter. 87.36% of the stock is currently owned by institutional investors and hedge funds.

About Macy’s

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.