Antony Spring Sells 4,582 Shares of Macy’s, Inc. (NYSE:M) Stock

Macy’s, Inc. (NYSE:M) CEO Antony Spring sold 4,582 shares of the firm’s stock in a transaction on Friday, March 28th. The stock was sold at an average price of $12.77, for a total transaction of $58,512.14. Following the completion of the sale, the chief executive officer now owns 288,961 shares in the company, valued at approximately $3,690,031.97. The trade was a 1.56 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link.

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

• On Monday, March 31st, Antony Spring sold 20,868 shares of Macy’s stock. The stock was sold at an average price of $12.68, for a total transaction of $264,606.24.
• On Tuesday, March 25th, Antony Spring sold 3,124 shares of Macy’s stock. The shares were sold at an average price of $13.74, for a total transaction of $42,923.76.

Macy’s Stock Up 2.4 %

NYSE M opened at $12.87 on Wednesday. The stock’s 50 day simple moving average is $14.32 and its 200 day simple moving average is $15.25. Macy’s, Inc. has a one year low of $12.48 and a one year high of $20.70. The firm has a market cap of $3.57 billion, a PE ratio of 21.81 and a beta of 2.07. 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 announced its earnings results on Thursday, March 6th. The company reported $1.80 EPS 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 analysts’ expectations of $7.76 billion. Macy’s had a return on equity of 21.99% and a net margin of 0.73%. As a group, sell-side analysts forecast that Macy’s, Inc. will post 2.39 earnings per share for the current fiscal year.

Macy’s Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th were given a dividend of $0.1824 per share. This represents a $0.73 dividend on an annualized basis and a dividend yield of 5.67%. This is a positive change from Macy’s’s previous quarterly dividend of $0.17. The ex-dividend date of this dividend was Friday, March 14th. Macy’s’s dividend payout ratio is presently 35.44%.

Analyst Ratings Changes

Several equities analysts recently issued reports on M shares. Citigroup lowered their price target on Macy’s from $16.00 to $14.00 and set a “neutral” rating on the stock in a research note on Friday, March 7th. JPMorgan Chase & Co. lowered Macy’s from an “overweight” rating to a “neutral” rating and cut their target price for the company from $19.00 to $14.00 in a research note on Thursday, March 6th. UBS Group decreased their price target on shares of Macy’s from $9.00 to $8.00 and set a “sell” rating on the stock in a research note on Friday, March 7th. Benchmark upgraded shares of Macy’s to a “strong-buy” rating in a research note on Monday, February 3rd. Finally, Telsey Advisory Group set a $15.00 target price on shares of Macy’s in a research report on Friday, March 7th. One analyst has rated the stock with a sell rating, ten have issued a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Macy’s currently has an average rating of “Hold” and a consensus price target of $15.30.

Institutional Trading of Macy’s

Hedge funds have recently modified their holdings of the stock. Trifecta Capital Advisors LLC acquired a new position in Macy’s during the 4th quarter worth $34,000. Quest Partners LLC acquired a new position in shares of Macy’s during the third quarter valued at $35,000. Jones Financial Companies Lllp boosted its holdings in 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 acquiring an additional 969 shares during the last quarter. Kestra Investment Management LLC acquired a new stake in Macy’s in the fourth quarter worth about $38,000. Finally, Bessemer Group Inc. lifted its position in Macy’s by 495.5% during the 4th quarter. Bessemer Group Inc. now owns 3,412 shares of the company’s stock valued at $58,000 after purchasing an additional 2,839 shares during the period. 87.36% of the stock is owned by institutional investors.

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.