Insider Selling: Macy's (NYSE:M) EVP Sells $1,775,000.00 in Stock

Key Points

• Macy's EVP Danielle Kirgan sold 100,000 shares of the company at an average price of $17.75, resulting in a total transaction of $1.775 million, and a 42.34% decrease in her ownership position.
• The company recently announced a quarterly dividend of $0.1824 per share, translating to an annualized yield of 4.1%, payable on October 1st to investors who were on record by September 15th.
• Analysts have revised their target prices for Macy’s stock, with updates from various firms reflecting sentiments from a "strong buy" to a "sell," indicating mixed expectations for the company's future performance.

Macy's, Inc. (NYSE:M - Get Free Report) EVP Danielle L. Kirgan sold 100,000 shares of the company's stock in a transaction that occurred on Wednesday, September 17th. The shares were sold at an average price of $17.75, for a total value of $1,775,000.00. Following the completion of the sale, the executive vice president owned 136,161 shares in the company, valued at $2,416,857.75. The trade was a 42.34% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Macy's Trading Down 3.6%

Macy's stock traded down $0.64 during mid-day trading on Monday, hitting $16.92. 10,731,115 shares of the stock were exchanged, compared to its average volume of 12,104,927. The stock has a market capitalization of $4.54 billion, a price-to-earnings ratio of 9.67 and a beta of 1.78. Macy's, Inc. has a 12 month low of $9.76 and a 12 month high of $18.13. The company has a quick ratio of 0.35, a current ratio of 1.38 and a debt-to-equity ratio of 0.55. The firm's fifty day simple moving average is $14.02 and its two-hundred day simple moving average is $12.70.

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

Macy's Announces Dividend

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

Institutional Investors Weigh In On Macy's

Hedge funds have recently added to or reduced their stakes in the stock. Summit Securities Group LLC raised its position in shares of Macy's by 106.0% in the 1st quarter. Summit Securities Group LLC now owns 2,200 shares of the company's stock worth $28,000 after purchasing an additional 38,800 shares during the last quarter. Headlands Technologies LLC purchased a new stake in shares of Macy's during the first quarter valued at approximately $29,000. UMB Bank n.a. raised its holdings in Macy's by 523.0% in the 2nd quarter. UMB Bank n.a. now owns 3,171 shares of the company's stock worth $37,000 after acquiring an additional 2,662 shares during the last quarter. Fifth Third Bancorp raised its holdings in Macy's by 28.7% in the 2nd quarter. Fifth Third Bancorp now owns 4,876 shares of the company's stock worth $57,000 after acquiring an additional 1,087 shares during the last quarter. Finally, GAMMA Investing LLC lifted its position in Macy's by 116.2% in the 2nd quarter. GAMMA Investing LLC now owns 7,590 shares of the company's stock valued at $88,000 after acquiring an additional 4,080 shares in the last quarter. 87.36% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have issued reports on the company. Barclays boosted their price target on Macy's from $12.00 to $15.00 and gave the company an "equal weight" rating in a research note on Thursday, September 4th. UBS Group increased their target price on shares of Macy's from $6.00 to $6.50 and gave the stock a "sell" rating in a research note on Thursday, September 4th. Zacks Research raised shares of Macy's from a "hold" rating to a "strong-buy" rating in a research note on Thursday. Jefferies Financial Group upped their price objective on shares of Macy's from $14.50 to $18.50 and gave the company a "buy" rating in a report on Wednesday, September 3rd. Finally, 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 research note on Monday, July 28th. Two analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating, ten have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $15.25.

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.