Antony Spring Sells 20,868 Shares of Macy's, Inc. (NYSE:M) Stock

Macy's, Inc. (NYSE:M - Get Free Report) CEO Antony Spring sold 20,868 shares of the stock in a transaction on Monday, March 31st. The stock was sold at an average price of $12.68, for a total transaction of $264,606.24. Following the transaction, the chief executive officer now owns 321,244 shares in the company, valued at approximately $4,073,373.92. This trade represents a 6.10 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

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

• On Friday, March 28th, Antony Spring sold 4,582 shares of Macy's stock. The stock was sold at an average price of $12.77, for a total value of $58,512.14.
• 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 Stock Performance

Shares of M traded down $0.06 on Friday, reaching $11.36. 14,090,949 shares of the stock traded hands, compared to its average volume of 6,112,047. The firm has a market cap of $3.15 billion, a price-to-earnings ratio of 19.25 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. The stock's 50-day moving average price is $14.15 and its 200-day moving average price is $15.18. Macy's, Inc. has a 12 month low of $10.78 and a 12 month high of $20.70.

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Macy's (NYSE:M - Get Free Report) last issued its earnings results on Thursday, March 6th. The company reported $1.80 earnings per share for the quarter, beating the consensus estimate of $1.55 by $0.25. Macy's had a net margin of 0.73% and a return on equity of 21.99%. The business had revenue of $7.77 billion for the quarter, compared to analyst estimates of $7.76 billion. Equities analysts forecast that Macy's, Inc. will post 2.39 EPS for the current fiscal year.

Macy's Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Friday, March 14th were given a dividend of $0.1824 per share. This represents a $0.73 annualized dividend and a dividend yield of 6.43%. The ex-dividend date was Friday, March 14th. This is an increase from Macy's's previous quarterly dividend of $0.17. Macy's's dividend payout ratio (DPR) is 35.44%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Versant Capital Management Inc raised its stake in shares of Macy's by 343.4% in the first quarter. Versant Capital Management Inc now owns 9,449 shares of the company's stock valued at $119,000 after acquiring an additional 7,318 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its stake in Macy's by 22.8% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 28,731 shares of the company's stock worth $486,000 after purchasing an additional 5,332 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in Macy's in the fourth quarter worth $2,591,000. Forum Financial Management LP bought a new stake in shares of Macy's during the fourth quarter worth $177,000. Finally, Vise Technologies Inc. increased its stake in shares of Macy's by 37.2% in the fourth quarter. Vise Technologies Inc. now owns 23,129 shares of the company's stock valued at $392,000 after buying an additional 6,266 shares in the last quarter. 87.36% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

M has been the topic of several analyst reports. StockNews.com upgraded Macy's from a "hold" rating to a "buy" rating in a report on Friday, February 14th. The Goldman Sachs Group dropped their target price on shares of Macy's from $19.00 to $17.00 and set a "buy" rating on the stock in a report on Friday, March 7th. Gordon Haskett lowered shares of Macy's from an "accumulate" rating to a "hold" rating in a research report on Thursday, March 6th. Telsey Advisory Group reiterated a "market perform" rating and issued a $15.00 price objective on shares of Macy's in a research note on Wednesday. Finally, Cowen reissued a "hold" rating on shares of Macy's in a research report on Friday, March 7th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $15.30.

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.