Hillsdale Investment Management Inc. Takes $919,000 Position in Macy’s, Inc. $M

Hillsdale Investment Management Inc. bought a new stake in Macy’s, Inc. (NYSE:M) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 41,700 shares of the company’s stock, valued at approximately $919,000.

Other institutional investors have also modified their holdings of the company. Strengthening Families & Communities LLC acquired a new position in Macy’s during the fourth quarter worth about $28,000. V Square Quantitative Management LLC purchased a new stake in Macy’s during the 4th quarter valued at about $29,000. Bessemer Group Inc. grew its stake in Macy’s by 41.4% during the 3rd quarter. Bessemer Group Inc. now owns 2,023 shares of the company’s stock valued at $37,000 after acquiring an additional 592 shares in the last quarter. Hantz Financial Services Inc. grew its stake in Macy’s by 101.1% during the 3rd quarter. Hantz Financial Services Inc. now owns 2,311 shares of the company’s stock valued at $41,000 after acquiring an additional 1,162 shares in the last quarter. Finally, CoreCap Advisors LLC grew its stake in Macy’s by 7,265.6% during the 4th quarter. CoreCap Advisors LLC now owns 2,357 shares of the company’s stock valued at $52,000 after acquiring an additional 2,325 shares in the last quarter. Institutional investors and hedge funds own 87.36% of the company’s stock.

Macy’s Trading Up 0.4%

Shares of Macy’s stock opened at $21.84 on Tuesday. The firm has a market capitalization of $5.76 billion, a price-to-earnings ratio of 9.42 and a beta of 1.47. Macy’s, Inc. has a fifty-two week low of $10.54 and a fifty-two week high of $24.41. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.50 and a current ratio of 1.49. The stock has a 50 day moving average of $19.30 and a 200 day moving average of $20.51.

Macy’s (NYSE:M) last issued its quarterly earnings data on Wednesday, March 18th. The company reported $1.67 earnings per share for the quarter, topping the consensus estimate of $1.55 by $0.12. The company had revenue of $7.92 billion during the quarter, compared to analyst estimates of $7.48 billion. Macy’s had a return on equity of 14.22% and a net margin of 2.84%.The firm’s revenue for the quarter was down 1.7% compared to the same quarter last year. During the same period in the prior year, the business posted $1.80 earnings per share. As a group, research analysts predict that Macy’s, Inc. will post 2.1 earnings per share for the current year.

Macy’s Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Monday, June 15th will be given a $0.1915 dividend. This represents a $0.77 annualized dividend and a yield of 3.5%. The ex-dividend date is Monday, June 15th. Macy’s’s dividend payout ratio is presently 32.76%.

Insiders Place Their Bets

In other news, EVP Danielle L. Kirgan sold 10,010 shares of the company’s stock in a transaction that occurred on Monday, April 6th. The shares were sold at an average price of $17.92, for a total value of $179,379.20. Following the transaction, the executive vice president directly owned 108,008 shares in the company, valued at approximately $1,935,503.36. This represents a 8.48% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Antony Spring sold 50,044 shares of the company’s stock in a transaction that occurred on Monday, April 6th. The stock was sold at an average price of $17.92, for a total transaction of $896,788.48. Following the completion of the transaction, the chief executive officer owned 485,791 shares in the company, valued at approximately $8,705,374.72. This represents a 9.34% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last ninety days, insiders have sold 94,967 shares of company stock valued at $1,705,276. 1.05% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. UBS Group upped their price objective on shares of Macy’s from $8.00 to $9.00 and gave the company a “sell” rating in a research note on Monday, March 9th. Zacks Research raised shares of Macy’s from a “strong sell” rating to a “hold” rating in a research note on Monday, April 13th. TD Cowen dropped their price objective on shares of Macy’s from $21.00 to $20.00 and set a “hold” rating for the company in a research note on Thursday, March 19th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Macy’s in a research note on Friday, March 27th. Finally, Jefferies Financial Group reaffirmed a “buy” rating and set a $22.00 price objective on shares of Macy’s in a research note on Wednesday, March 18th. One investment analyst has rated the stock with a Buy rating, eleven have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Reduce” and a consensus price target of $18.90.

Macy’s Profile

Macy’s, Inc is a leading American omnichannel retailer operating under the Macy’s brand, as well as specialty divisions Bloomingdale’s and Bluemercury. The company’s retail portfolio encompasses full-line department stores, fashion-focused specialty outlets and a high-end beauty chain, offering consumers a wide array of apparel, footwear, accessories, cosmetics and home furnishings. Through its integrated network of physical stores and digital platforms, Macy’s seeks to deliver a seamless shopping experience that blends in-store service with online convenience.

The company’s product assortment spans men’s, women’s and children’s clothing, beauty and personal care products, housewares and home décor.