Macy’s, Inc. (NYSE:M) CEO Antony Spring Sells 3,124 Shares

Macy’s, Inc. (NYSE:M) CEO Antony Spring sold 3,124 shares of the company’s stock in a transaction dated Tuesday, March 25th. The stock was sold at an average price of $13.74, for a total value of $42,923.76. Following the sale, the chief executive officer now owns 272,680 shares of the company’s stock, valued at approximately $3,746,623.20. This trade represents a 1.13 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Macy’s Trading Down 2.2 %

NYSE:M traded down $0.30 during trading hours on Wednesday, hitting $13.29. The company had a trading volume of 5,825,748 shares, compared to its average volume of 5,984,544. Macy’s, Inc. has a 52 week low of $12.60 and a 52 week high of $20.70. The company has a market capitalization of $3.69 billion, a PE ratio of 22.52 and a beta of 2.07. The stock has a 50-day moving average price of $14.43 and a 200 day moving average price of $15.31. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.26 and a quick ratio of 0.17.

Macy’s (NYSE:M) last posted its quarterly earnings results on Thursday, March 6th. The company reported $1.80 earnings per share for the quarter, topping the consensus estimate of $1.55 by $0.25. The company 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%. On average, equities research analysts predict that Macy’s, Inc. will post 2.39 EPS for the current fiscal year.

Macy’s Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be issued a dividend of $0.1824 per share. This represents a $0.73 annualized dividend and a yield of 5.49%. The ex-dividend date of this dividend is Friday, March 14th. This is a positive change from Macy’s’s previous quarterly dividend of $0.17. Macy’s’s payout ratio is currently 35.44%.

Analyst Upgrades and Downgrades

M has been the subject of a number of recent research reports. StockNews.com raised Macy’s from a “hold” rating to a “buy” rating in a report on Friday, February 14th. Cowen reiterated a “hold” rating on shares of Macy’s in a report on Friday, March 7th. Morgan Stanley set a $14.00 price target on Macy’s in a research note on Monday, March 10th. Benchmark upgraded Macy’s to a “strong-buy” rating in a research note on Monday, February 3rd. Finally, New Street Research set a $13.00 price target on Macy’s in a report on Thursday, March 6th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Macy’s presently has an average rating of “Hold” and an average price target of $15.30.

Hedge Funds Weigh In On Macy’s

Several large investors have recently made changes to their positions in M. Trifecta Capital Advisors LLC bought a new position in Macy’s during the fourth quarter valued at approximately $34,000. Quest Partners LLC purchased a new stake in shares of Macy’s during the third quarter valued at $35,000. Jones Financial Companies Lllp boosted its holdings in shares of Macy’s by 82.1% in the fourth quarter. Jones Financial Companies Lllp now owns 2,149 shares of the company’s stock valued at $36,000 after purchasing an additional 969 shares during the period. Kestra Investment Management LLC purchased a new position in Macy’s during the 4th quarter worth $38,000. Finally, Bessemer Group Inc. increased its stake in shares of Macy’s by 495.5% during the fourth quarter. Bessemer Group Inc. now owns 3,412 shares of the company’s stock valued at $58,000 after buying an additional 2,839 shares during the period. 87.36% of the stock is currently owned by hedge funds and other institutional investors.

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.