Fannie Mae, Freddie Mac shares tumble after conservatorship comments
In a recent filing with the Securities and Exchange Commission, Spring Antony, Chairman and CEO of Macy’s, Inc. (NYSE:M), disclosed the sale of company shares totaling $102,518. The transactions occurred on March 25 and March 26, 2025, with shares sold at prices ranging from $13.2802 to $13.7377. The sales come as Macy’s stock trades near its 52-week low of $12.60, with shares down over 20% year-to-date. InvestingPro analysis suggests the stock is currently undervalued, trading at an attractive P/E ratio of 6.3x.
On March 25, Antony sold 3,124 shares, followed by an additional sale of 4,488 shares on March 26. The sales were conducted to cover tax withholding obligations upon the vesting of restricted shares. Following these transactions, Antony’s direct ownership stands at 280,365.1058 shares.
In addition to these sales, Antony also acquired 8,539 and 12,173 shares through the vesting of restricted stock units on March 24 and March 25, respectively, without any cash transactions involved.
In other recent news, Macy’s reported fourth-quarter earnings per share of $1.80, surpassing analyst expectations of $1.54. Despite this earnings beat, several firms, including TD Cowen, Telsey Advisory Group, Citi, JPMorgan, and CFRA, have adjusted their price targets for Macy’s shares, citing various concerns and future projections. TD Cowen reduced its target to $14, while Telsey and Citi also lowered their targets to $15 and $14, respectively. JPMorgan downgraded Macy’s stock rating from Overweight to Neutral, cutting its price target to $14. CFRA set its target even lower at $13, maintaining a Hold rating.
Macy’s comparable store sales have shown mixed results, with a decline of 1.1% in owned comparable sales but increases in its Bluemercury and Bloomingdale’s brands. The company’s fiscal year 2025 guidance indicates a cautious outlook, with expected EPS ranging from $2.05 to $2.25 and projected same-store sales declines. Analysts have noted the challenges Macy’s faces due to macroeconomic pressures and shifts in consumer shopping habits, with the retail sector under pressure from alternative retail sources and online shopping.
Macy’s strategic initiatives include closing underperforming stores and focusing on high-potential locations, as well as expanding luxury offerings. However, the company’s fiscal year 2025 projections reflect ongoing challenges, with anticipated sales and profitability growth remaining difficult in the current competitive environment. Analyst firms have highlighted these factors in their revised ratings and price targets, signaling a need for investors to remain cautious.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.