Hussman Strategic Advisors Inc. cut its position in Macy’s, Inc. (NYSE:M – Free Report) by 28.5% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 186,000 shares of the company’s stock after selling 74,000 shares during the quarter. Hussman Strategic Advisors Inc. owned 0.07% of Macy’s worth $3,253,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors have also modified their holdings of the company. Raymond James Financial Services Advisors Inc. lifted its holdings in Macy’s by 1.6% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 46,490 shares of the company’s stock worth $960,000 after buying an additional 728 shares during the last quarter. Webster Bank N. A. lifted its holdings in Macy’s by 2,613.0% during the 1st quarter. Webster Bank N. A. now owns 5,019 shares of the company’s stock worth $88,000 after buying an additional 4,834 shares during the last quarter. Profund Advisors LLC purchased a new stake in Macy’s during the 4th quarter worth about $210,000. Strs Ohio lifted its holdings in Macy’s by 19.8% during the 1st quarter. Strs Ohio now owns 45,355 shares of the company’s stock worth $793,000 after buying an additional 7,481 shares during the last quarter. Finally, Integrated Wealth Concepts LLC lifted its holdings in Macy’s by 278.8% during the 4th quarter. Integrated Wealth Concepts LLC now owns 64,896 shares of the company’s stock worth $1,340,000 after buying an additional 47,766 shares during the last quarter. 81.29% of the stock is owned by institutional investors and hedge funds.
Insider Buying and Selling
In other Macy’s news, EVP Danielle L. Kirgan sold 24,202 shares of the firm’s stock in a transaction dated Monday, July 10th. The shares were sold at an average price of $15.97, for a total value of $386,505.94. Following the transaction, the executive vice president now owns 303,272 shares of the company’s stock, valued at $4,843,253.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO Antony Spring sold 19,026 shares of Macy’s stock in a transaction that occurred on Monday, July 10th. The stock was sold at an average price of $15.97, for a total transaction of $303,845.22. Following the sale, the chief executive officer now owns 198,155 shares of the company’s stock, valued at $3,164,535.35. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Danielle L. Kirgan sold 24,202 shares of Macy’s stock in a transaction that occurred on Monday, July 10th. The shares were sold at an average price of $15.97, for a total value of $386,505.94. Following the sale, the executive vice president now directly owns 303,272 shares in the company, valued at approximately $4,843,253.84. The disclosure for this sale can be found here. Over the last three months, insiders sold 51,610 shares of company stock worth $823,642. Corporate insiders own 1.52% of the company’s stock.
Analyst Upgrades and Downgrades
Several analysts have recently weighed in on M shares. StockNews.com started coverage on Macy’s in a report on Thursday, May 18th. They issued a “hold” rating for the company. Citigroup reduced their target price on Macy’s from $16.00 to $15.00 in a report on Friday, June 2nd. UBS Group reduced their target price on Macy’s from $12.75 to $12.00 in a report on Wednesday, June 7th. JPMorgan Chase & Co. reduced their price objective on Macy’s from $26.00 to $23.00 in a research note on Friday, June 2nd. Finally, Gordon Haskett raised Macy’s from a “hold” rating to a “buy” rating and set a $18.00 price objective for the company in a research note on Thursday, June 1st. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $20.67.
Macy’s Trading Down 1.3 %
Shares of M traded down $0.21 during trading hours on Wednesday, hitting $16.12. The stock had a trading volume of 2,985,959 shares, compared to its average volume of 10,699,509. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.26 and a current ratio of 1.22. The firm has a market cap of $4.39 billion, a P/E ratio of 4.33, a P/E/G ratio of 0.47 and a beta of 1.84. The company’s fifty day simple moving average is $15.71 and its 200 day simple moving average is $18.02. Macy’s, Inc. has a 12-month low of $12.80 and a 12-month high of $25.12.
Macy’s (NYSE:M – Get Free Report) last announced its quarterly earnings results on Thursday, June 1st. The company reported $0.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.45 by $0.11. The firm had revenue of $4.98 billion during the quarter, compared to the consensus estimate of $5.01 billion. Macy’s had a return on equity of 28.86% and a net margin of 4.31%. The firm’s quarterly revenue was down 6.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.08 EPS. Equities research analysts forecast that Macy’s, Inc. will post 2.94 EPS for the current fiscal year.
Macy’s Cuts Dividend
The company also recently declared a quarterly dividend, which was paid on Monday, July 3rd. Investors of record on Thursday, June 15th were paid a $0.165 dividend. The ex-dividend date was Wednesday, June 14th. This represents a $0.66 dividend on an annualized basis and a yield of 4.09%. Macy’s’s dividend payout ratio (DPR) is 17.51%.
About Macy’s
Macy’s, Inc, an omni-channel retail organization, operates stores, websites, and mobile applications in the United States. The company sells a range of merchandise, such as apparel and accessories for men, women, and kids; cosmetics; home furnishings; and other consumer goods under the Macy’s, Bloomingdale’s, and bluemercury brands.