Macy's, Inc. (NYSE:M) CEO Antony Spring Sells 4,582 Shares

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

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 value of $42,923.76.

Macy's Trading Up 2.7 %

NYSE M traded up $0.35 during trading on Wednesday, hitting $13.22. The company had a trading volume of 6,200,581 shares, compared to its average volume of 6,071,394. The company's fifty day moving average is $14.32 and its 200-day moving average is $15.25. The company has a market cap of $3.67 billion, a price-to-earnings ratio of 22.41 and a beta of 2.07. 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, Inc. has a one year low of $12.48 and a one year high of $20.70.

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Macy's (NYSE:M - Get Free Report) last announced its earnings results on Thursday, March 6th. The company reported $1.80 EPS for the quarter, beating analysts' consensus estimates of $1.55 by $0.25. The firm had revenue of $7.77 billion for 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%. On average, sell-side analysts predict that Macy's, Inc. will post 2.39 earnings per share for the current year.

Macy's Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Friday, March 14th were paid a $0.1824 dividend. The ex-dividend date was Friday, March 14th. This represents a $0.73 annualized dividend and a dividend yield of 5.52%. This is an increase from Macy's's previous quarterly dividend of $0.17. Macy's's dividend payout ratio is presently 35.44%.

Analysts Set New Price Targets

M has been the topic of a number of research reports. UBS Group decreased their price objective on Macy's from $9.00 to $8.00 and set a "sell" rating on the stock in a report on Friday, March 7th. Gordon Haskett downgraded shares of Macy's from an "accumulate" rating to a "hold" rating in a research note on Thursday, March 6th. The Goldman Sachs Group cut their price objective on shares of Macy's from $19.00 to $17.00 and set a "buy" rating for the company in a research note on Friday, March 7th. New Street Research set a $13.00 target price on shares of Macy's in a research report on Thursday, March 6th. Finally, Morgan Stanley set a $14.00 price target on shares of Macy's in a research report on Monday, March 10th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $15.30.

Hedge Funds Weigh In On Macy's

Several large investors have recently modified their holdings of the stock. Dimensional Fund Advisors LP lifted its stake in Macy's by 7.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 15,751,211 shares of the company's stock valued at $266,666,000 after acquiring an additional 1,149,454 shares during the period. Cooper Creek Partners Management LLC boosted its holdings in Macy's by 26.2% in the fourth 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. FMR LLC grew its position in Macy's by 59.9% in the 4th 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. American Century Companies Inc. raised its stake in Macy's by 12.2% during the 4th quarter. American Century Companies Inc. now owns 7,137,132 shares of the company's stock valued at $120,832,000 after buying an additional 774,693 shares during the last quarter. Finally, Norges Bank bought a new position in shares of Macy's during the 4th quarter valued at $96,689,000. Hedge funds and other institutional investors own 87.36% of the company's stock.

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.