Palantir a high-risk investment with ’a one-of-a-kind growth and margin model’
Danielle Kirgan, Executive Vice President and Chief Human Resources Officer at Macy’s, Inc. (NYSE:M), executed a significant stock transaction according to a recent SEC filing. On April 1, Kirgan sold 4,522 shares of Macy’s common stock, generating a total of $58,256. The shares were sold at a weighted average price of $12.8828, with individual transaction prices ranging from $12.735 to $13.01. The transaction occurred as Macy’s stock trades near its 52-week low of $12.48, with a current market capitalization of $3.68 billion. This sale was conducted to cover tax withholding obligations from the vesting of restricted stock units, not as a discretionary transaction by Kirgan. Following this transaction, Kirgan holds 386,161 shares of Macy’s common stock.
In other recent news, Macy’s announced the appointment of Thomas J. Edwards as its new Chief Operating Officer and Chief Financial Officer, effective June 22nd. This leadership change is part of Macy’s strategy to drive long-term growth, with CEO Tony Spring expressing confidence in Edwards’ ability to enhance the company’s "Bold New Chapter" strategy. Meanwhile, Macy’s reiterated its first-quarter 2025 financial guidance, signaling stability in its financial outlook. However, analysts have expressed cautious sentiments regarding Macy’s future performance. TD Cowen, Telsey Advisory Group, Citi, and JPMorgan have all adjusted their price targets for Macy’s to $14 or $15, citing mixed financial results and macroeconomic challenges. Although Macy’s fourth-quarter earnings per share exceeded expectations, analysts pointed to a decline in comparable sales and a cautious fiscal year 2025 outlook. Telsey and Citi noted that Macy’s strategy to close underperforming stores and focus on high-potential locations is prudent, yet they acknowledge the competitive pressures within the retail sector. JPMorgan downgraded Macy’s stock to Neutral, highlighting ongoing challenges in meeting previous performance benchmarks.
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