Macy’s EVP Adrian V. Mitchell sells $171,959 in stock

Adrian V. Mitchell, the Executive Vice President, Chief Operating Officer, and Chief Financial Officer of Macy’s, Inc. (NYSE:M), has recently reported selling a significant portion of the company’s stock. According to the latest SEC filing, Mitchell sold shares amounting to $171,959 in two separate transactions. The sales come as Macy’s stock trades near its 52-week low of $12.48, with shares down about 25% year-to-date. Based on InvestingPro analysis, the stock currently appears undervalued, trading at just 6x earnings and 0.77x book value.

The first transaction, which occurred on March 28, involved the sale of 5,122 shares at a weighted average price of approximately $12.7728. The second sale took place on March 31, with 8,403 shares sold at a weighted average price of $12.6785. These transactions were conducted to cover tax withholding obligations upon the vesting of restricted shares and do not represent discretionary actions by Mitchell. The timing coincides with a period of significant market volatility for Macy’s, which InvestingPro data shows has experienced a 10% decline in just the past week.

Following these sales, Mitchell retains direct ownership of 142,723 shares of Macy’s common stock. Additionally, Mitchell acquired 13,664 shares of common stock on March 27 and 20,635 shares on March 28 through non-discretionary transactions related to restricted stock units. For deeper insights into insider transactions and 16 additional key investment tips for Macy’s, including detailed valuation metrics and financial health analysis, visit InvestingPro.

In other recent news, Macy’s reported fourth-quarter earnings per share of $1.80, surpassing expectations of $1.54, although this was partly due to one-time adjustments. The company experienced a 1.1% decline in owned comparable sales, which fell short of the anticipated -0.2%. Macy’s gross margin for the quarter was 35.7%, slightly above the forecast of 35.5%, while Selling, General & Administrative expenses decreased by 1.0% year-over-year. Looking ahead, Macy’s has provided a cautious fiscal year 2025 outlook, with an EPS range of $2.05 to $2.25, below the Street’s expectation of $2.26. Analysts from firms such as TD Cowen, Telsey Advisory Group, Citi, JPMorgan, and CFRA have responded by lowering their price targets for Macy’s stock, with targets now ranging from $13 to $15. These adjustments reflect concerns about ongoing macroeconomic challenges and a competitive promotional environment. Macy’s "Bold New Chapter" strategy includes closing 150 stores and expanding luxury locations by 20%, aiming to enhance its omni-channel shopping experience. Despite strategic moves, analysts remain cautious about the company’s near-term sales and profitability growth due to structural shifts in consumer traffic and broader challenges in the department store sector.

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