Macy’s (NYSE:M) EVP Sells $2,033,200.00 in Stock

Macy’s, Inc. (NYSE:M) EVP Danielle Kirgan sold 85,000 shares of the company’s stock in a transaction dated Thursday, December 11th. The stock was sold at an average price of $23.92, for a total value of $2,033,200.00. Following the completion of the transaction, the executive vice president owned 51,161 shares in the company, valued at $1,223,771.12. This represents a 62.43% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Macy’s Price Performance

Shares of M traded up $0.73 during trading hours on Thursday, reaching $23.99. 8,058,951 shares of the company’s stock traded hands, compared to its average volume of 7,738,649. Macy’s, Inc. has a 12 month low of $9.76 and a 12 month high of $24.03. The company has a current ratio of 1.25, a quick ratio of 0.18 and a debt-to-equity ratio of 0.56. The stock has a market cap of $6.44 billion, a PE ratio of 14.20 and a beta of 1.44. The firm’s 50 day simple moving average is $19.85 and its 200-day simple moving average is $15.69.

Macy’s (NYSE:M) last announced its earnings results on Wednesday, December 3rd. The company reported $0.09 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.22. Macy’s had a net margin of 2.10% and a return on equity of 15.57%. The business had revenue of $4.91 billion for the quarter, compared to the consensus estimate of $4.52 billion. During the same period last year, the firm posted $0.04 earnings per share. Macy’s’s quarterly revenue was down .6% on a year-over-year basis. Macy’s has set its FY 2025 guidance at 2.000-2.20 EPS. Equities analysts expect that Macy’s, Inc. will post 2.39 EPS for the current year.

Macy’s Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 2nd. Stockholders of record on Monday, December 15th will be issued a dividend of $0.1824 per share. This represents a $0.73 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date of this dividend is Monday, December 15th. Macy’s’s payout ratio is currently 43.20%.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. The Goldman Sachs Group increased their target price on Macy’s from $16.50 to $22.00 and gave the company a “neutral” rating in a research note on Friday, December 5th. Morgan Stanley upped their price objective on Macy’s from $20.00 to $21.00 and gave the stock an “equal weight” rating in a report on Friday, December 5th. Jefferies Financial Group increased their price objective on Macy’s from $18.50 to $26.00 and gave the company a “buy” rating in a research report on Thursday, December 4th. Evercore ISI boosted their target price on Macy’s from $14.00 to $21.00 and gave the stock a “cautious” rating in a research report on Friday, December 5th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Macy’s in a research note on Monday. Two equities research analysts have rated the stock with a Strong Buy rating, one has given a Buy rating, eleven have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $20.36.

Institutional Investors Weigh In On Macy’s

Hedge funds and other institutional investors have recently modified their holdings of the stock. US Bancorp DE grew its position in Macy’s by 6.7% during the 1st quarter. US Bancorp DE now owns 19,624 shares of the company’s stock worth $246,000 after acquiring an additional 1,227 shares during the last quarter. PNC Financial Services Group Inc. grew its holdings in shares of Macy’s by 6.2% in the first quarter. PNC Financial Services Group Inc. now owns 25,399 shares of the company’s stock worth $319,000 after purchasing an additional 1,491 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Macy’s by 2.6% in the first quarter. Charles Schwab Investment Management Inc. now owns 2,849,558 shares of the company’s stock worth $35,790,000 after buying an additional 73,096 shares during the period. Headlands Technologies LLC bought a new stake in Macy’s during the 1st quarter valued at $29,000. Finally, Nuveen LLC bought a new stake in Macy’s during the 1st quarter valued at $9,201,000. Institutional investors own 87.36% of the company’s stock.

Macy’s Company Profile

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.