Macy's, Inc. (NYSE:M) director Jeffrey Gennette has made significant changes to his holdings in the company, according to a recent filing with the Securities and Exchange Commission. The transactions, which took place on March 25 and 26, 2024, involved both acquiring and disposing of the company's shares.
On March 25, Gennette acquired 55,158 shares of Macy's common stock at no cost, as detailed in the filing. This transaction was related to the vesting of restricted stock units, each representing one share of common stock, which did not involve any discretionary trading by Gennette.
The following day, Gennette disposed of 27,132 shares of Macy's stock. The sales were executed at a weighted average price of $19.4356, with individual transactions ranging from $19.315 to $19.55 per share. The total value of the shares sold amounted to approximately $527,326. The filing noted that these sales were carried out to cover tax withholding obligations upon the vesting of restricted shares and were not discretionary sales.
After these transactions, Gennette's ownership in Macy's stood at 1,043,041 shares of common stock. Investors and market watchers often pay close attention to insider trading patterns for insights into company performance and executive confidence.
For those interested in the finer details of these transactions, Macy's, and the SEC, upon request, are prepared to provide full information regarding the number of shares sold at each price within the specified ranges.
Macy's stock continues to be closely monitored by investors, and insider transactions like these provide valuable information for market analysis.
InvestingPro Insights
Following the recent insider transactions at Macy's, Inc. (NYSE:M), investors are keenly observing the company's performance metrics and market position. According to InvestingPro, Macy's stock price has experienced significant volatility, with a large price uptick over the last six months, reflecting a 77.2% return. This could signal growing investor confidence or a response to broader market trends.
InvestingPro Tips suggest that Macy's is a prominent player in the Broadline Retail industry, which may have contributed to its ability to maintain dividend payments for 22 consecutive years, a testament to its financial resilience. Notably, the company's dividend yield stands at 3.64%, with a dividend growth of 10.29% over the last twelve months as of Q4 2024, which could attract income-focused investors.
From a valuation standpoint, Macy's current P/E ratio is high at 51.57, indicating that the stock is trading at a premium relative to earnings. This could be a point of caution for value investors, especially considering that analysts have revised their earnings downwards for the upcoming period. For those seeking additional insights, there are more InvestingPro Tips available, which can be accessed through the company's dedicated page on Investing.com/pro.
InvestingPro Data further reveals that despite a recent revenue decline of 6.22% over the last twelve months as of Q4 2024, the company has managed to maintain a robust gross profit margin of 40.74%. However, the market has reacted to these mixed signals, as reflected in the stock's recent performance, with a 10.0% decline over the past week.
Those interested in exploring further insights and tips can use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription at InvestingPro. This offer provides access to a comprehensive set of tools and data to help investors make well-informed decisions.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.