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

Hillsdale Investment Management Inc. acquired a new position in Macy’s, Inc. (NYSE:M) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 41,700 shares of the company’s stock, valued at approximately $919,000.

Other large investors have also recently made changes to their positions in the company. Strengthening Families & Communities LLC acquired a new position in shares of Macy’s in the 4th quarter worth approximately $28,000. V Square Quantitative Management LLC purchased a new stake in Macy’s during the 4th quarter worth approximately $29,000. Bessemer Group Inc. increased 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 worth $37,000 after buying an additional 592 shares during the period. Hantz Financial Services Inc. increased 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 worth $41,000 after buying an additional 1,162 shares during the period. Finally, CoreCap Advisors LLC increased 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 worth $52,000 after buying an additional 2,325 shares during the period. 87.36% of the stock is currently owned by institutional investors and hedge funds.

Macy’s Trading Up 0.4%

NYSE M opened at $21.84 on Tuesday. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.49 and a quick ratio of 0.50. The firm’s fifty day moving average price is $19.30 and its 200 day moving average price is $20.51. The company 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 12 month low of $10.54 and a 12 month high of $24.41.

Macy’s (NYSE:M) last posted its earnings results on Wednesday, March 18th. The company reported $1.67 EPS for the quarter, beating analysts’ consensus estimates of $1.55 by $0.12. The firm had revenue of $7.92 billion for the quarter, compared to the consensus estimate of $7.48 billion. Macy’s had a net margin of 2.84% and a return on equity of 14.22%. The company’s revenue was down 1.7% on a year-over-year basis. During the same period last year, the firm posted $1.80 EPS. On average, sell-side analysts expect that Macy’s, Inc. will post 2.1 earnings per share for the current fiscal year.

Macy’s Announces Dividend

The business also recently announced 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 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date of this dividend is Monday, June 15th. Macy’s’s dividend payout ratio (DPR) is 32.76%.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on M shares. TD Cowen cut their target price on shares of Macy’s from $21.00 to $20.00 and set a “hold” rating on the stock in a research note on Thursday, March 19th. Telsey Advisory Group reaffirmed a “market perform” rating and set a $20.00 target price on shares of Macy’s in a research note on Wednesday, April 1st. JPMorgan Chase & Co. cut their target price on shares of Macy’s from $24.00 to $21.00 and set a “neutral” rating on the stock in a research note on Wednesday, March 18th. Wall Street Zen downgraded shares of Macy’s from a “buy” rating to a “hold” rating in a research note on Sunday, April 26th. Finally, Zacks Research raised shares of Macy’s from a “strong sell” rating to a “hold” rating in a research note on Monday, April 13th. One analyst has rated the stock with a Buy rating, eleven have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, Macy’s currently has a consensus rating of “Reduce” and a consensus target price of $18.90.

Insider Activity at Macy’s

In related news, EVP Danielle L. Kirgan sold 10,010 shares of the stock in a transaction 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 of the company’s stock, valued at $1,935,503.36. This trade represents a 8.48% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, EVP Tracy M. Preston sold 5,271 shares of the stock in a transaction on Monday, April 6th. The shares were sold at an average price of $17.92, for a total transaction of $94,456.32. Following the completion of the transaction, the executive vice president directly owned 28,773 shares in the company, valued at $515,612.16. This trade represents a 15.48% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last 90 days, insiders sold 94,967 shares of company stock valued at $1,705,276. Corporate insiders own 1.05% of the company’s stock.

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.