Towle & Co. Has $9.77 Million Holdings in Macy’s, Inc. (NYSE:M)

Towle & Co. lessened its stake in Macy’s, Inc. (NYSE:M) by 44.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 577,042 shares of the company’s stock after selling 460,607 shares during the quarter. Towle & Co. owned approximately 0.21% of Macy’s worth $9,769,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in M. Trifecta Capital Advisors LLC acquired a new stake in Macy’s during the 4th quarter valued at $34,000. Jones Financial Companies Lllp lifted its holdings in Macy’s by 82.1% during the 4th quarter. Jones Financial Companies Lllp now owns 2,149 shares of the company’s stock valued at $36,000 after purchasing an additional 969 shares during the last quarter. Kestra Investment Management LLC acquired a new stake in Macy’s during the 4th quarter valued at $38,000. Bessemer Group Inc. lifted its holdings in Macy’s by 495.5% during the 4th quarter. Bessemer Group Inc. now owns 3,412 shares of the company’s stock valued at $58,000 after purchasing an additional 2,839 shares during the last quarter. Finally, Raiffeisen Bank International AG acquired a new stake in Macy’s during the 4th quarter valued at $111,000. Institutional investors and hedge funds own 87.36% of the company’s stock.

Insider Buying and Selling at Macy’s

In other news, CEO Antony Spring sold 20,868 shares of Macy’s stock in a transaction dated Monday, March 31st. The stock was sold at an average price of $12.68, for a total transaction of $264,606.24. Following the sale, the chief executive officer now directly owns 321,244 shares of the company’s stock, valued at approximately $4,073,373.92. This trade represents a 6.10% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Adrian V. Mitchell sold 3,489 shares of Macy’s stock in a transaction dated Tuesday, March 25th. The shares were sold at an average price of $13.74, for a total value of $47,938.86. Following the sale, the executive vice president now directly owns 116,165 shares in the company, valued at $1,596,107.10. The trade was a 2.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 41,751 shares of company stock worth $537,790 over the last 90 days. Insiders own 1.09% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on M shares. Morgan Stanley reaffirmed a “negative” rating on shares of Macy’s in a report on Tuesday, May 6th. Citigroup cut their price target on Macy’s from $14.00 to $11.00 and set a “neutral” rating for the company in a report on Thursday, April 17th. Telsey Advisory Group reaffirmed a “market perform” rating and set a $15.00 price target on shares of Macy’s in a report on Wednesday, April 2nd. Cowen reaffirmed a “hold” rating on shares of Macy’s in a report on Friday, March 7th. Finally, UBS Group cut their price target on Macy’s from $9.00 to $8.00 and set a “sell” rating for the company in a report on Friday, March 7th. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $14.00.

Macy’s Stock Up 1.9%

M stock opened at $12.24 on Monday. The company has a market cap of $3.41 billion, a PE ratio of 20.74 and a beta of 1.77. The business has a 50-day simple moving average of $12.04 and a 200 day simple moving average of $14.27. Macy’s, Inc. has a 52 week low of $9.76 and a 52 week high of $20.70. The company has a quick ratio of 0.17, a current ratio of 1.26 and a debt-to-equity ratio of 0.67.

Macy’s (NYSE:M) last posted its quarterly earnings results on Thursday, March 6th. The company reported $1.80 EPS for the quarter, beating analysts’ consensus estimates of $1.55 by $0.25. The business had revenue of $7.77 billion during the quarter, compared to the consensus estimate of $7.76 billion. Macy’s had a return on equity of 21.99% and a net margin of 0.73%. Sell-side analysts anticipate that Macy’s, Inc. will post 2.39 EPS for the current fiscal year.

Macy’s Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th will be given a $0.1824 dividend. This represents a $0.73 dividend on an annualized basis and a yield of 5.96%. Macy’s’s dividend payout ratio is presently 35.44%.

About Macy’s

Macy’s, Inc engages in the retail of apparel, accessories, cosmetics, home furnishings, and other consumer goods. The firm’s brands include Macy’s, Bloomingdale’s, and Bluemercury. It offers men’s, women’s, and children’s apparel, women’s accessories, intimate apparel, shoes, cosmetics, fragrances, as well as home and miscellaneous products.