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Paul Griscom, Senior Vice President and Controller at Macy’s, Inc. (NYSE:M), recently sold a portion of his shares in the company. According to a Form 4 filing with the Securities and Exchange Commission, Griscom sold 489 shares of Macy’s common stock on April 1, 2025, at a weighted average price of $12.8888 per share, totaling approximately $6,302. 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 and a P/E ratio of 6.27. InvestingPro analysis shows the stock is currently fairly valued based on its proprietary Fair Value model.
The sale was conducted to cover tax withholding obligations upon the vesting of restricted shares, as noted in the filing. Following this transaction, Griscom’s direct ownership of Macy’s common stock stands at 36,222 shares.
In a separate transaction on March 31, 2025, Griscom acquired 1,715 shares of common stock through the vesting of restricted stock units, which did not involve any cash exchange. This acquisition increased his total holdings to 36,711 shares before the subsequent sale.
In other recent news, Macy’s announced the appointment of Thomas J. Edwards as Chief Operating Officer and Chief Financial Officer, effective June 22nd. This strategic move is part of the company’s plan to stimulate long-term growth and follows the departure of Adrian Mitchell. In terms of financial performance, Macy’s reported a fourth-quarter earnings per share (EPS) of $1.80, surpassing expectations of $1.54, although this was largely due to one-time adjustments. Despite the EPS beat, analysts have shown caution regarding Macy’s future outlook. TD Cowen, Telsey Advisory Group, and Citi have all adjusted their price targets for Macy’s to $14 or $15, citing concerns over macroeconomic uncertainties and comparable sales trends.
JPMorgan also downgraded Macy’s stock from Overweight to Neutral, lowering the price target to $14, following mixed fourth-quarter results. The company’s fiscal year 2025 guidance projects an EPS range of $2.05 to $2.25, which is below analysts’ expectations. Additionally, Macy’s expects a decline in same-store sales for the first quarter of 2025, anticipating a decrease between 4.5% and 2.5%. Analysts have noted the company’s strategic efforts to close underperforming stores and focus on top-performing locations. However, they remain cautious due to ongoing challenges in the retail sector and broader economic pressures.
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