Danielle L. Kirgan Sells 100,000 Shares of Macy's (NYSE:M) Stock

Key Points

• Danielle Kirgan, EVP of Macy's, sold 100,000 shares of the company's stock for a total of $1.73 million, reducing her ownership by 25.9%.
• Macy's reported earnings of $0.41 per share for the quarter, exceeding analysts' estimates and setting guidance for future earnings between -0.200 and 0.150 EPS.
• The company announced a quarterly dividend of $0.1824 per share, marking a dividend yield of 4.2% with a payout ratio of 41.71%.

Macy's, Inc. (NYSE:M - Get Free Report) EVP Danielle L. Kirgan sold 100,000 shares of Macy's stock in a transaction on Friday, September 5th. The shares were sold at an average price of $17.30, for a total value of $1,730,000.00. Following the completion of the transaction, the executive vice president owned 286,161 shares of the company's stock, valued at approximately $4,950,585.30. The trade was a 25.90% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Macy's Trading Down 2.6%

Shares of Macy's stock traded down $0.46 during trading on Friday, reaching $17.00. 4,687,901 shares of the company were exchanged, compared to its average volume of 7,683,210. The company has a quick ratio of 0.35, a current ratio of 1.38 and a debt-to-equity ratio of 0.55. Macy's, Inc. has a twelve month low of $9.76 and a twelve month high of $18.13. The business has a 50-day moving average price of $13.35 and a 200-day moving average price of $12.55. The firm has a market capitalization of $4.62 billion, a price-to-earnings ratio of 9.72 and a beta of 1.78.

Macy's (NYSE:M - Get Free Report) last posted its earnings results on Wednesday, September 3rd. The company reported $0.41 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.19 by $0.22. The firm had revenue of $4.81 billion during the quarter, compared to analysts' expectations of $4.69 billion. Macy's had a return on equity of 15.39% and a net margin of 2.18%.The company's revenue was down 2.5% on a year-over-year basis. During the same period in the previous year, the firm earned $0.53 earnings per share. Macy's has set its Q3 2025 guidance at -0.200--0.150 EPS. FY 2025 guidance at 1.700-2.050 EPS. Sell-side analysts anticipate that Macy's, Inc. will post 2.39 EPS for the current fiscal year.

Macy's Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Monday, September 15th will be paid a $0.1824 dividend. The ex-dividend date is Monday, September 15th. This represents a $0.73 annualized dividend and a yield of 4.3%. Macy's's dividend payout ratio is currently 41.71%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in M. Summit Securities Group LLC grew its position in Macy's by 106.0% in the first quarter. Summit Securities Group LLC now owns 2,200 shares of the company's stock worth $28,000 after acquiring an additional 38,800 shares in the last quarter. Headlands Technologies LLC purchased a new position in shares of Macy's during the first quarter valued at approximately $29,000. UMB Bank n.a. lifted its holdings in shares of Macy's by 523.0% during the second quarter. UMB Bank n.a. now owns 3,171 shares of the company's stock valued at $37,000 after purchasing an additional 2,662 shares during the last quarter. Fifth Third Bancorp increased its position in shares of Macy's by 28.7% during the second quarter. Fifth Third Bancorp now owns 4,876 shares of the company's stock valued at $57,000 after acquiring an additional 1,087 shares in the last quarter. Finally, Raiffeisen Bank International AG bought a new stake in Macy's in the 4th quarter worth approximately $111,000. 87.36% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. Barclays upped their target price on Macy's from $12.00 to $15.00 and gave the company an "equal weight" rating in a research report on Thursday, September 4th. JPMorgan Chase & Co. raised their target price on Macy's from $12.00 to $16.00 and gave the company a "neutral" rating in a report on Monday, July 28th. Citigroup increased their price target on Macy's from $12.00 to $16.00 and gave the company a "neutral" rating in a research note on Thursday, September 4th. The Goldman Sachs Group raised their target price on Macy's from $13.00 to $14.50 and gave the stock a "neutral" rating in a research report on Thursday, September 4th. Finally, UBS Group increased their price target on Macy's from $6.00 to $6.50 and gave the stock a "sell" rating in a report on Thursday, September 4th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, nine have issued a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $14.85.

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.