Antony Spring Sells 50,044 Shares of Macy’s (NYSE:M) Stock

Macy’s, Inc. (NYSE:M) CEO Antony Spring sold 50,044 shares of the firm’s stock in a transaction dated Monday, April 6th. The shares were sold at an average price of $17.92, for a total transaction of $896,788.48. Following the transaction, the chief executive officer owned 485,791 shares of the company’s stock, valued at $8,705,374.72. This trade represents a 9.34% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

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

• On Wednesday, April 1st, Antony Spring sold 14,606 shares of Macy’s stock. The shares were sold at an average price of $18.08, for a total transaction of $264,076.48.

Macy’s Stock Performance

NYSE:M opened at $18.36 on Thursday. The company has a current ratio of 1.49, a quick ratio of 0.50 and a debt-to-equity ratio of 0.50. The firm has a 50-day moving average price of $19.47 and a two-hundred day moving average price of $20.18. Macy’s, Inc. has a twelve month low of $9.81 and a twelve month high of $24.41. The company has a market capitalization of $4.84 billion, a P/E ratio of 7.91 and a beta of 1.51.

Macy’s (NYSE:M) last posted its earnings results on Wednesday, March 18th. The company reported $1.67 earnings per share for the quarter, beating the consensus estimate of $1.55 by $0.12. Macy’s had a net margin of 2.84% and a return on equity of 14.22%. The firm had revenue of $7.92 billion during the quarter, compared to the consensus estimate of $7.48 billion. During the same period last year, the firm posted $1.80 EPS. The firm’s revenue for the quarter was down 1.7% on a year-over-year basis. As a group, research analysts expect that Macy’s, Inc. will post 2.39 earnings per share for the current fiscal year.

Macy’s Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 1st. Shareholders of record on Friday, March 13th were issued a dividend of $0.1915 per share. This is an increase from Macy’s’s previous quarterly dividend of $0.18. The ex-dividend date was Friday, March 13th. This represents a $0.77 annualized dividend and a yield of 4.2%. Macy’s’s payout ratio is 33.19%.

Key Stories Impacting Macy’s

Here are the key news stories impacting Macy’s this week:

• Positive Sentiment: Macy’s reported an earnings and revenue beat for the March quarter (EPS $1.67 vs. $1.55 est.; revenue $7.92B vs. $7.48B est.), which supports near-term upside and helped lift the stock. MarketBeat – Macy’s
• Positive Sentiment: The company recently raised its quarterly dividend (paid April 1), increasing annualized payout and boosting yield (~4.2%), a shareholder-friendly move that can support the stock’s appeal to income investors. Dividend disclosure (MarketBeat)
• Neutral Sentiment: Multiple insiders sold shares on April 6 (CEO Antony Spring sold 50,044 shares; several other executives also sold smaller blocks). Company disclosures say the sales were to cover tax withholding tied to vested awards, which typically makes these Form 4 sales neutral from a governance perspective. InsiderTrades – insider sale alert
• Negative Sentiment: Analyst coverage is mixed-to-weak: several price targets have been cut and the consensus rating skews toward “Reduce” with an average target near $18.90 — that limits upside unless fundamentals or guidance improve. Analyst notes (MarketBeat)
• Negative Sentiment: Technically, the stock is trading below its 50- and 200-day moving averages, which can attract short-term selling pressure from momentum and quant funds. Market data (MarketBeat)

Institutional Investors Weigh In On Macy’s

Several hedge funds have recently modified their holdings of M. Strengthening Families & Communities LLC acquired a new stake in shares of Macy’s in the fourth quarter worth approximately $28,000. V Square Quantitative Management LLC acquired a new stake in shares of Macy’s in the fourth quarter worth approximately $29,000. Cullen Frost Bankers Inc. acquired a new stake in shares of Macy’s in the third quarter worth approximately $31,000. Smartleaf Asset Management LLC boosted its position in shares of Macy’s by 51.7% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,543 shares of the company’s stock worth $34,000 after acquiring an additional 526 shares during the last quarter. Finally, Bessemer Group Inc. boosted its position in shares of Macy’s by 41.4% in the third quarter. Bessemer Group Inc. now owns 2,023 shares of the company’s stock worth $37,000 after acquiring an additional 592 shares during the last quarter. 87.36% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

M has been the topic of several analyst reports. Zacks Research cut shares of Macy’s from a “hold” rating to a “strong sell” rating in a research note on Friday, March 13th. Jefferies Financial Group reaffirmed a “buy” rating and set a $22.00 price target on shares of Macy’s in a research note on Wednesday, March 18th. Citigroup decreased their price target on shares of Macy’s from $24.00 to $18.00 and set a “neutral” rating on the stock in a research note on Thursday, March 19th. Telsey Advisory Group reaffirmed a “market perform” rating and set a $20.00 price target on shares of Macy’s in a research note on Wednesday, April 1st. Finally, JPMorgan Chase & Co. decreased their price target on shares of Macy’s from $24.00 to $21.00 and set a “neutral” rating on the stock in a research note on Wednesday, March 18th. One investment analyst has rated the stock with a Buy rating, ten have assigned a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Reduce” and a consensus price target of $18.90.

Macy’s Company Profile

Macy’s, Inc is a leading American omnichannel retailer operating under the Macy’s brand, as well as specialty divisions Bloomingdale’s and Bluemercury. The company’s retail portfolio encompasses full-line department stores, fashion-focused specialty outlets and a high-end beauty chain, offering consumers a wide array of apparel, footwear, accessories, cosmetics and home furnishings. Through its integrated network of physical stores and digital platforms, Macy’s seeks to deliver a seamless shopping experience that blends in-store service with online convenience.

The company’s product assortment spans men’s, women’s and children’s clothing, beauty and personal care products, housewares and home décor.