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

Macy’s, Inc. (NYSE:M) CEO Antony Spring sold 3,124 shares of the stock in a transaction dated Tuesday, March 25th. The shares were sold at an average price of $13.74, for a total transaction of $42,923.76. Following the completion of the transaction, the chief executive officer now directly owns 272,680 shares in the company, valued at $3,746,623.20. The trade was a 1.13 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Macy’s Trading Down 2.2 %

Shares of M opened at $13.29 on Thursday. 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, Inc. has a 52-week low of $12.60 and a 52-week high of $20.70. The firm has a market cap of $3.69 billion, a price-to-earnings ratio of 22.52 and a beta of 2.07. The business’s fifty day moving average is $14.42 and its 200-day moving average is $15.30.

Macy’s (NYSE:M) last posted its earnings results on Thursday, March 6th. The company reported $1.80 EPS for the quarter, topping analysts’ consensus estimates of $1.55 by $0.25. The firm had revenue of $7.77 billion during the quarter, compared to analysts’ expectations of $7.76 billion. Macy’s had a net margin of 0.73% and a return on equity of 21.99%. 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 issued a dividend of $0.1824 per share. This is an increase from Macy’s’s previous quarterly dividend of $0.17. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.73 annualized dividend and a dividend yield of 5.49%. Macy’s’s dividend payout ratio (DPR) is 35.44%.

Analyst Ratings Changes

A number of research analysts recently commented on the stock. JPMorgan Chase & Co. lowered shares of Macy’s from an “overweight” rating to a “neutral” rating and decreased their price target for the company from $19.00 to $14.00 in a research note on Thursday, March 6th. The Goldman Sachs Group decreased their target price on Macy’s from $19.00 to $17.00 and set a “buy” rating on the stock in a research report on Friday, March 7th. Morgan Stanley set a $14.00 price target on Macy’s in a report on Monday, March 10th. StockNews.com upgraded Macy’s from a “hold” rating to a “buy” rating in a research note on Friday, February 14th. Finally, Benchmark upgraded Macy’s to a “strong-buy” rating in a research report on Monday, February 3rd. 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 given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $15.30.

Hedge Funds Weigh In On Macy’s

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Norges Bank bought a new stake in shares of Macy’s during the fourth quarter worth about $96,689,000. Junto Capital Management LP acquired a new position in Macy’s in the 4th quarter valued at approximately $48,775,000. FMR LLC lifted its holdings in shares of Macy’s by 59.9% during the fourth quarter. FMR LLC now owns 7,503,742 shares of the company’s stock worth $127,038,000 after purchasing an additional 2,812,151 shares during the period. Marshall Wace LLP increased its holdings in Macy’s by 1,230.8% in the fourth quarter. Marshall Wace LLP now owns 2,387,193 shares of the company’s stock valued at $40,415,000 after purchasing an additional 2,207,809 shares during the period. Finally, Cooper Creek Partners Management LLC raised its position in Macy’s by 26.2% during the 4th quarter. Cooper Creek Partners Management LLC now owns 7,838,240 shares of the company’s stock worth $132,701,000 after purchasing an additional 1,627,572 shares during the last quarter. Institutional investors and hedge funds own 87.36% of the company’s stock.

Macy’s Company Profile

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.