Macy's, Inc. (NYSE:M) executive vice president Danielle L. Kirgan, who oversees transformation and human resources, has recently carried out transactions in the company's stock, according to the latest filings. Kirgan sold a total of 6,680 shares of common stock on April 1, 2024, at an average price of $19.6553, netting a total of $131,297.
The transactions included a sale that took place over a range of prices, from $19.48 to $19.84. This sale was not a discretionary move by Kirgan but was instead aimed at covering tax withholding obligations that arose upon the vesting of restricted shares.
Additionally, Kirgan acquired 12,864 shares of common stock on March 31, 2024, which did not involve any monetary transaction as these shares represent vested restricted stock units. Each restricted stock unit is equivalent to one share of Macy's common stock. Following these transactions, Kirgan's ownership in the company stands at 324,635 shares of common stock.
The transactions are part of the regular disclosure of stock activities by company executives and are reported to the Securities and Exchange Commission. Macy's investors and the broader market often monitor these filings for insights into executive confidence and company performance.
These filings provide transparency into the actions of Macy's executives with respect to their holdings in the company and are readily available for public review. The recent activities by EVP Kirgan reflect a mix of acquiring shares through vested units and selling shares primarily for tax-related purposes.
InvestingPro Insights
Macy's, Inc. (NYSE:M) has been navigating a dynamic retail environment, and recent stock activities by its executive vice president are just one aspect of the company's ongoing story. For investors looking at the broader financial picture, InvestingPro offers additional context with real-time data and expert insights.
According to InvestingPro data, Macy's currently boasts a market capitalization of $5.24 billion and trades at an earnings multiple of 49.9, signaling that investors may expect future growth or that the stock is trading at a premium compared to earnings. Notably, the company has experienced a large price uptick over the last six months, with a 72.05% total return, potentially indicating investor optimism about Macy's prospects.
Despite a decrease in revenue growth over the last twelve months as of Q4 2024, with a -6.22% change, Macy's has maintained a gross profit margin of 40.74%, reflecting its ability to retain a significant portion of sales as gross profit. This figure is crucial for investors as it demonstrates the company's efficiency in managing its cost of goods sold and maintaining profitability.
Moreover, Macy's has consistently rewarded its shareholders, maintaining dividend payments for 22 consecutive years, a testament to its commitment to returning value. The dividend yield as of the latest data stands at an attractive 3.56%.
For those interested in further insights, there are additional InvestingPro Tips available. For instance, while some analysts have revised their earnings downwards for the upcoming period, others predict that the company will be profitable this year. Also, Macy's is recognized as a prominent player in the Broadline Retail industry, which may influence its performance relative to sector peers.
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