Antony Spring Sells 13,404 Shares of Macy’s, Inc. (NYSE:M) Stock

Macy’s, Inc. (NYSE:M) CEO Antony Spring sold 13,404 shares of the stock in a transaction dated Friday, March 22nd. The shares were sold at an average price of $20.42, for a total value of $273,709.68. Following the completion of the sale, the chief executive officer now owns 223,286 shares of the company’s stock, valued at $4,559,500.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

• On Monday, March 25th, Antony Spring sold 3,075 shares of Macy’s stock. The stock was sold at an average price of $20.28, for a total value of $62,361.00.

Macy’s Price Performance

Shares of M opened at $19.09 on Wednesday. Macy’s, Inc. has a fifty-two week low of $10.54 and a fifty-two week high of $22.10. The company has a market capitalization of $5.23 billion, a price-to-earnings ratio of 51.59 and a beta of 2.14. The firm has a 50-day simple moving average of $19.39 and a 200-day simple moving average of $16.27. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.39 and a current ratio of 1.37.

Macy’s (NYSE:M) last issued its earnings results on Tuesday, February 27th. The company reported $2.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.98 by $0.47. Macy’s had a net margin of 0.45% and a return on equity of 23.34%. The company had revenue of $8.12 billion during the quarter, compared to analysts’ expectations of $8.07 billion. During the same period last year, the company posted $1.88 earnings per share. The firm’s quarterly revenue was down 1.7% compared to the same quarter last year. On average, equities research analysts anticipate that Macy’s, Inc. will post 2.57 earnings per share for the current year.

Macy’s Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, April 1st. Investors of record on Friday, March 15th will be given a dividend of $0.1737 per share. The ex-dividend date is Thursday, March 14th. This represents a $0.69 dividend on an annualized basis and a yield of 3.64%. This is a positive change from Macy’s’s previous quarterly dividend of $0.17. Macy’s’s dividend payout ratio (DPR) is 186.49%.

Analyst Ratings Changes

Several research analysts recently weighed in on M shares. StockNews.com started coverage on Macy’s in a research report on Saturday. They set a “hold” rating for the company. TD Cowen lowered Macy’s from an “outperform” rating to a “market perform” rating and dropped their price objective for the company from $23.00 to $20.00 in a report on Thursday, February 29th. Telsey Advisory Group raised their price objective on Macy’s from $15.00 to $21.00 and gave the company a “market perform” rating in a report on Wednesday, February 28th. Morgan Stanley dropped their price objective on Macy’s from $21.00 to $20.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 28th. Finally, The Goldman Sachs Group raised their price objective on Macy’s from $16.00 to $22.00 and gave the company a “buy” rating in a report on Wednesday, February 28th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $17.45.

Hedge Funds Weigh In On Macy’s

Hedge funds have recently made changes to their positions in the stock. Point72 Asset Management L.P. lifted its stake in shares of Macy’s by 1,054.0% in the 2nd quarter. Point72 Asset Management L.P. now owns 10,846,841 shares of the company’s stock worth $174,092,000 after acquiring an additional 9,906,912 shares during the period. Holocene Advisors LP lifted its stake in shares of Macy’s by 171.1% in the 2nd quarter. Holocene Advisors LP now owns 5,582,759 shares of the company’s stock worth $89,603,000 after acquiring an additional 3,523,368 shares during the period. Norges Bank acquired a new stake in shares of Macy’s in the 4th quarter worth approximately $62,529,000. Vanguard Group Inc. boosted its holdings in shares of Macy’s by 7.8% during the 3rd quarter. Vanguard Group Inc. now owns 36,381,604 shares of the company’s stock worth $422,390,000 after buying an additional 2,645,577 shares during the period. Finally, Schonfeld Strategic Advisors LLC boosted its holdings in shares of Macy’s by 196.2% during the 4th quarter. Schonfeld Strategic Advisors LLC now owns 3,453,241 shares of the company’s stock worth $71,309,000 after buying an additional 2,287,287 shares during the period. Institutional investors and hedge funds own 87.36% of the company’s stock.

About Macy’s

Macy's, Inc, an omni-channel retail organization, operates stores, websites, and mobile applications in the United States. The company sells a range of merchandise, such as apparel and accessories for men, women, and kids; cosmetics; home furnishings; and other consumer goods under the Macy's, Bloomingdale's, and bluemercury brands.