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 on Tuesday, March 25th. The stock was sold at an average price of $13.74, for a total transaction of $42,923.76. Following the sale, the chief executive officer now directly owns 272,680 shares of the company’s stock, valued at $3,746,623.20. The trade was a 1.13 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Macy’s Stock Down 0.8 %

Shares of NYSE:M opened at $13.17 on Friday. The company has a market capitalization of $3.66 billion, a price-to-earnings ratio of 22.31 and a beta of 2.07. Macy’s, Inc. has a 12-month low of $12.60 and a 12-month high of $20.70. The business has a 50-day moving average price of $14.41 and a 200 day moving average price of $15.28. The company has a current ratio of 1.26, a quick ratio of 0.17 and a debt-to-equity ratio of 0.67.

Macy’s (NYSE:M) last released its quarterly earnings results on Thursday, March 6th. The company reported $1.80 earnings per share (EPS) for the quarter, beating 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 net margin of 0.73% and a return on equity of 21.99%. Sell-side analysts expect that Macy’s, Inc. will post 2.39 EPS for the current year.

Macy’s Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be paid a dividend of $0.1824 per share. This is a positive change 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 yield of 5.54%. Macy’s’s dividend payout ratio is presently 35.44%.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on M shares. StockNews.com upgraded shares of Macy’s from a “hold” rating to a “buy” rating in a research report on Friday, February 14th. New Street Research set a $13.00 price target on Macy’s in a research report on Thursday, March 6th. Gordon Haskett downgraded Macy’s from an “accumulate” rating to a “hold” rating in a research report on Thursday, March 6th. JPMorgan Chase & Co. lowered Macy’s from an “overweight” rating to a “neutral” rating and lowered their price objective for the stock from $19.00 to $14.00 in a research note on Thursday, March 6th. Finally, Cowen reaffirmed a “hold” rating on shares of Macy’s in a research note on Friday, March 7th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $15.30.

Hedge Funds Weigh In On Macy’s

A number of hedge funds and other institutional investors have recently bought and sold shares of M. Charles Schwab Investment Management Inc. boosted its position in 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 buying an additional 118,626 shares during the period. FMR LLC raised its stake in shares of Macy’s by 4.4% in the third quarter. FMR LLC now owns 4,691,591 shares of the company’s stock valued at $73,611,000 after acquiring an additional 195,880 shares in the last quarter. Virtu Financial LLC purchased a new position in Macy’s in the third quarter valued at $594,000. HB Wealth Management LLC grew its stake in Macy’s by 724.1% during the 4th quarter. HB Wealth Management LLC now owns 103,584 shares of the company’s stock worth $1,754,000 after purchasing an additional 91,015 shares in the last quarter. Finally, Alerus Financial NA purchased a new stake in Macy’s during the 3rd quarter worth about $2,144,000. 87.36% of the stock is currently owned by hedge funds and other 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.