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Bron Olivier, the CEO of Bloomingdale’s, a division of Macy’s, Inc. (NYSE:M), recently sold shares of the company’s stock according to a Form 4 filing with the Securities and Exchange Commission. On March 31, Olivier sold 3,113 shares at an average price of $12.6793, totaling approximately $39,470. This transaction was executed to cover tax withholding obligations upon the vesting of restricted shares, and was not a discretionary sale by Olivier.
Prior to this, on March 28, Olivier acquired 7,503 shares of common stock at no cost, as these shares were part of a vesting of restricted stock units. Following these transactions, Olivier holds a total of 6,246 shares in Macy’s. The company maintains strong fundamentals with a healthy current ratio of 1.43 and pays a significant 5.8% dividend yield. For deeper insights into insider transactions and comprehensive financial analysis, including 16 additional ProTips, check out the detailed Pro Research Report available on InvestingPro.
In other recent news, Macy’s reported fourth-quarter earnings per share of $1.80, surpassing expectations of $1.54. Despite this, the company faces challenges, as its owned comparable sales declined by 1.1%, missing the expected -0.2%. Analysts from firms such as TD Cowen and Citi have adjusted their price targets for Macy’s to $14, citing future sales slowdowns and macroeconomic uncertainties. Telsey Advisory Group also revised its target to $15, reflecting concerns about Macy’s fiscal year 2025 outlook, despite positive sales momentum in luxury and beauty segments.
JPMorgan downgraded Macy’s stock from Overweight to Neutral, adjusting the price target to $14, due to mixed performance in other areas despite the EPS beat. The firm noted that Macy’s same-store sales marginally increased by 0.2%, which was below expectations. CFRA further lowered its price target to $13, maintaining a Hold rating, and highlighted the company’s ongoing struggle with stagnant sales growth in the department store sector. Macy’s management has provided a cautious fiscal year 2025 EPS guidance, expecting a range of $2.05 to $2.25, which is below the Street’s forecast.
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