Macy's, Inc. (NYSE:M) executive vice president Danielle L. Kirgan, who oversees the company's transformation and human resources, has recently engaged in several stock transactions, according to the latest SEC filings. On March 22, Kirgan sold 15,070 shares of Macy's common stock at an average price of $20.4165, totaling approximately $307,676. The transactions occurred in a range of prices from $20.325 to $20.57.
In addition to the sale, Kirgan also acquired 44,634 shares on March 21 through the settlement of performance restricted stock units, which included 3,552 dividend shares accrued during a three-year performance period from fiscal 2021 to 2023. The shares were granted at no cost to the executive. On the same day, Macy's withheld 1,281 shares valued at $20.79 each to cover tax obligations related to the vesting of dividends on performance restricted stock units, which amounted to a total of $26,631.
Following these transactions, Kirgan's direct ownership in Macy's common stock has adjusted to a total of 306,555 shares. The reported sales were made to cover tax withholding obligations upon the vesting of performance restricted shares and were not discretionary sales by Kirgan.
Investors and market watchers often monitor insider transactions such as these for insights into executive confidence and company performance. However, it is important to note that these transactions can be influenced by a variety of factors, including personal financial planning and tax considerations.
InvestingPro Insights
Amid the recent insider transactions at Macy's, Inc. (NYSE:M), investors looking to understand the broader financial landscape of the company can turn to real-time data and analysis from InvestingPro. As the executive vice president's stock activity draws attention, it's worth noting that Macy's is poised for a year of growth with net income expected to increase. This projection aligns with the company's status as a prominent player in the Broadline Retail industry, as highlighted by InvestingPro Tips.
Analyzing the financial metrics from InvestingPro, Macy's currently holds a market capitalization of $5.41 billion USD. The company's Price/Earnings (P/E) ratio stands at 51.49, suggesting that the stock is trading at a high earnings multiple. Despite this, the adjusted P/E ratio for the last twelve months as of Q4 2024 is significantly lower at 5.57, indicating a potentially more favorable earning capacity in the recent period.
Furthermore, Macy's has demonstrated a commitment to its shareholders, maintaining dividend payments for 22 consecutive years. This is underscored by a dividend yield of 3.43% as of the latest data, with an impressive dividend growth of 10.29% over the last twelve months as of Q4 2024. The company's stock has also experienced a large price uptick, with a six-month total return of 85.36%.
For those looking to delve deeper into Macy's financials and stock analysis, InvestingPro offers additional insights and metrics. With the use of coupon code PRONEWS24, readers can get an extra 10% off a yearly or biyearly Pro and Pro+ subscription. There are currently 8 additional InvestingPro Tips available for Macy's, providing a comprehensive view of the company's performance and stock potential. To explore these tips and more, visit https://www.investing.com/pro/M.
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