Insider Selling: Macy’s, Inc. (NYSE:M) CEO Sells 18,981 Shares of Stock

Macy’s, Inc. (NYSE:M) CEO Antony Spring sold 18,981 shares of the company’s stock in a transaction dated Wednesday, July 10th. The shares were sold at an average price of $18.96, for a total value of $359,879.76. Following the completion of the sale, the chief executive officer now directly owns 267,265 shares of the company’s stock, valued at $5,067,344.40. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Macy’s Price Performance

Shares of NYSE M traded up $0.74 during trading on Thursday, hitting $19.56. 3,825,849 shares of the company were exchanged, compared to its average volume of 6,641,688. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.38 and a quick ratio of 0.35. Macy’s, Inc. has a 1 year low of $10.54 and a 1 year high of $22.10. The company has a market cap of $5.41 billion, a price-to-earnings ratio of 655.00 and a beta of 2.18. The firm’s fifty day moving average price is $19.08 and its 200 day moving average price is $19.22.

Macy’s (NYSE:M) last released its quarterly earnings data on Tuesday, May 21st. The company reported $0.27 EPS for the quarter, topping analysts’ consensus estimates of $0.15 by $0.12. The firm had revenue of $4.85 billion for the quarter, compared to the consensus estimate of $4.82 billion. Macy’s had a net margin of 0.05% and a return on equity of 21.40%. The firm’s revenue was down 2.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.56 earnings per share. On average, sell-side analysts expect that Macy’s, Inc. will post 2.79 earnings per share for the current fiscal year.

Macy’s Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, July 1st. Shareholders of record on Friday, June 14th were issued a $0.1737 dividend. This represents a $0.69 annualized dividend and a dividend yield of 3.55%. The ex-dividend date was Friday, June 14th. Macy’s’s dividend payout ratio (DPR) is presently 2,300.00%.

Institutional Investors Weigh In On Macy’s

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Glassman Wealth Services boosted its holdings in shares of Macy’s by 154.5% during the fourth quarter. Glassman Wealth Services now owns 1,224 shares of the company’s stock worth $25,000 after purchasing an additional 743 shares during the last quarter. Lindbrook Capital LLC boosted its stake in Macy’s by 253.1% in the 4th quarter. Lindbrook Capital LLC now owns 1,317 shares of the company’s stock worth $26,000 after buying an additional 944 shares during the last quarter. Riverview Trust Co acquired a new stake in Macy’s in the 1st quarter worth about $27,000. Fidelis Capital Partners LLC acquired a new position in shares of Macy’s during the 1st quarter valued at about $42,000. Finally, Fortitude Family Office LLC acquired a new position in shares of Macy’s during the 4th quarter valued at about $50,000. Hedge funds and other institutional investors own 87.36% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the stock. Telsey Advisory Group restated a “market perform” rating and set a $21.00 target price on shares of Macy’s in a research report on Tuesday, May 21st. TD Cowen lifted their price objective on shares of Macy’s from $20.00 to $21.00 and gave the company a “hold” rating in a research note on Wednesday, May 22nd. StockNews.com initiated coverage on shares of Macy’s in a research note on Friday, July 5th. They set a “hold” rating for the company. Finally, JPMorgan Chase & Co. lifted their target price on Macy’s from $25.00 to $27.00 and gave the company an “overweight” rating in a research note on Wednesday, May 22nd. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $17.70.

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.