Hussman Strategic Advisors Inc. Reduces Stake in Macy's, Inc. (NYSE:M)

Hussman Strategic Advisors Inc. trimmed its stake in Macy's, Inc. (NYSE:M - Free Report) by 32.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 105,000 shares of the company's stock after selling 51,000 shares during the period. Hussman Strategic Advisors Inc.'s holdings in Macy's were worth $2,113,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Lindbrook Capital LLC lifted its stake in Macy's by 253.1% during the fourth quarter. Lindbrook Capital LLC now owns 1,317 shares of the company's stock worth $26,000 after purchasing an additional 944 shares during the last quarter. FinTrust Capital Advisors LLC purchased a new stake in Macy's in the fourth quarter worth approximately $26,000. Quarry LP bought a new position in Macy's during the first quarter valued at approximately $33,000. Belpointe Asset Management LLC raised its stake in shares of Macy's by 267.1% during the first quarter. Belpointe Asset Management LLC now owns 1,964 shares of the company's stock worth $34,000 after acquiring an additional 1,429 shares in the last quarter. Finally, Estabrook Capital Management raised its stake in shares of Macy's by 77.8% during the first quarter. Estabrook Capital Management now owns 1,600 shares of the company's stock worth $39,000 after acquiring an additional 700 shares in the last quarter. 87.36% of the stock is owned by hedge funds and other institutional investors.

Macy's Trading Down 2.7 %

M stock traded down $0.51 on Friday, reaching $18.53. The company's stock had a trading volume of 4,797,292 shares, compared to its average volume of 6,265,738. The firm has a market cap of $5.10 billion, a PE ratio of 50.08 and a beta of 2.15. The business has a fifty day simple moving average of $19.70 and a two-hundred day simple moving average of $17.30. Macy's, Inc. has a 12-month low of $10.54 and a 12-month high of $22.10. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.39 and a current ratio of 1.37.

Macy's (NYSE:M - Get Free Report) last issued its quarterly earnings data on Tuesday, February 27th. The company reported $2.45 EPS for the quarter, topping the consensus estimate of $1.98 by $0.47. The business had revenue of $8.12 billion during the quarter, compared to analyst estimates of $8.07 billion. Macy's had a net margin of 0.45% and a return on equity of 23.34%. The company's revenue for the quarter was down 1.7% on a year-over-year basis. During the same period in the prior year, the business earned $1.88 EPS. As a group, research analysts forecast that Macy's, Inc. will post 2.57 EPS for the current year.

Macy's Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 15th were given a dividend of $0.1737 per share. This represents a $0.69 annualized dividend and a yield of 3.75%. This is a boost from Macy's's previous quarterly dividend of $0.17. The ex-dividend date was Thursday, March 14th. Macy's's payout ratio is presently 186.49%.

Insiders Place Their Bets

In other news, SVP Paul Griscom sold 2,969 shares of the firm's stock in a transaction that occurred on Friday, March 22nd. The stock was sold at an average price of $20.43, for a total value of $60,656.67. Following the completion of the transaction, the senior vice president now owns 21,436 shares in the company, valued at approximately $437,937.48. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, SVP Paul Griscom sold 2,969 shares of the company's stock in a transaction dated Friday, March 22nd. The shares were sold at an average price of $20.43, for a total value of $60,656.67. Following the sale, the senior vice president now directly owns 21,436 shares of the company's stock, valued at approximately $437,937.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jeffrey Gennette sold 78,567 shares of the stock in a transaction dated Friday, March 22nd. The stock was sold at an average price of $20.42, for a total transaction of $1,604,338.14. Following the completion of the transaction, the director now owns 994,301 shares of the company's stock, valued at $20,303,626.42. The disclosure for this sale can be found here. In the last quarter, insiders have sold 218,424 shares of company stock worth $4,405,507. Company insiders own 1.52% of the company's stock.

Analyst Ratings Changes

Several research firms recently commented on M. StockNews.com assumed coverage on shares of Macy's in a report on Tuesday, April 16th. They set a "hold" rating on the stock. Morgan Stanley lowered their target price on Macy's from $21.00 to $20.00 and set an "equal weight" rating for the company in a research note on Wednesday, February 28th. JPMorgan Chase & Co. increased their target price on Macy's from $23.00 to $25.00 and gave the company an "overweight" rating in a report on Monday, March 18th. Citigroup raised Macy's from a "sell" rating to a "neutral" rating and lifted their price target for the stock from $14.00 to $18.00 in a research note on Friday, February 2nd. Finally, TD Cowen lowered Macy's from an "outperform" rating to a "market perform" rating and dropped their price objective for the company from $23.00 to $20.00 in a research note on Thursday, February 29th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $17.45.

Macy's Profile

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.