Vontobel Holding Ltd. Has $269,000 Stock Position in Macy’s, Inc. (NYSE:M)

Vontobel Holding Ltd. reduced its position in Macy’s, Inc. (NYSE:M) by 79.9% in the 4th quarter, HoldingsChannel reports. The firm owned 13,384 shares of the company’s stock after selling 53,190 shares during the period. Vontobel Holding Ltd.’s holdings in Macy’s were worth $269,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the stock. Vanguard Group Inc. lifted its position in Macy’s by 7.8% during the third quarter. Vanguard Group Inc. now owns 36,381,604 shares of the company’s stock worth $422,390,000 after acquiring an additional 2,645,577 shares during the last quarter. Newport Trust Company LLC lifted its position in Macy’s by 0.6% during the third quarter. Newport Trust Company LLC now owns 7,810,216 shares of the company’s stock worth $90,677,000 after acquiring an additional 45,159 shares during the last quarter. AQR Capital Management LLC lifted its position in Macy’s by 48.9% during the third quarter. AQR Capital Management LLC now owns 5,272,297 shares of the company’s stock worth $61,211,000 after acquiring an additional 1,730,307 shares during the last quarter. American Century Companies Inc. lifted its position in Macy’s by 20.8% during the third quarter. American Century Companies Inc. now owns 3,287,930 shares of the company’s stock worth $38,173,000 after acquiring an additional 565,269 shares during the last quarter. Finally, Deutsche Bank AG increased its holdings in shares of Macy’s by 260.8% during the third quarter. Deutsche Bank AG now owns 2,547,529 shares of the company’s stock worth $29,577,000 after purchasing an additional 1,841,432 shares during the period. 87.36% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on M. Morgan Stanley lowered their target price on shares of Macy’s from $21.00 to $20.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 28th. StockNews.com began coverage on shares of Macy’s in a report on Wednesday. They set a “hold” rating on the stock. JPMorgan Chase & Co. raised their target price on shares of Macy’s from $23.00 to $25.00 and gave the stock an “overweight” rating in a report on Monday, March 18th. The Goldman Sachs Group raised their target price on shares of Macy’s from $16.00 to $22.00 and gave the stock a “buy” rating in a report on Wednesday, February 28th. Finally, Telsey Advisory Group reaffirmed a “market perform” rating and set a $21.00 target price on shares of Macy’s in a report on Thursday, March 28th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, Macy’s currently has an average rating of “Hold” and a consensus price target of $17.45.

Macy’s Stock Performance

Shares of NYSE:M opened at $19.02 on Wednesday. The company’s 50 day simple moving average is $19.68 and its 200 day simple moving average is $17.41. The stock has a market capitalization of $5.23 billion, a price-to-earnings ratio of 51.41 and a beta of 2.15. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.37 and a quick ratio of 0.39. Macy’s, Inc. has a 1 year low of $10.54 and a 1 year high of $22.10.

Macy’s (NYSE:M) last announced its quarterly earnings data on Tuesday, February 27th. The company reported $2.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.98 by $0.47. The business had revenue of $8.12 billion for the quarter, compared to analysts’ expectations of $8.07 billion. Macy’s had a net margin of 0.45% and a return on equity of 23.34%. The firm’s quarterly revenue was down 1.7% compared to the same quarter last year. During the same period last year, the firm posted $1.88 earnings per share. As a group, research analysts predict that Macy’s, Inc. will post 2.57 EPS for the current fiscal year.

Macy’s Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 15th were paid a dividend of $0.1737 per share. This represents a $0.69 dividend on an annualized basis and a dividend yield of 3.65%. The ex-dividend date was Thursday, March 14th. This is a boost from Macy’s’s previous quarterly dividend of $0.17. Macy’s’s payout ratio is presently 186.49%.

Insiders Place Their Bets

In other Macy’s news, Director Jeffrey Gennette sold 30,090 shares of the business’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $19.66, for a total transaction of $591,569.40. Following the sale, the director now owns 1,073,699 shares of the company’s stock, valued at $21,108,922.34. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, EVP Danielle L. Kirgan sold 15,070 shares of Macy’s stock in a transaction on Friday, March 22nd. The shares were sold at an average price of $20.42, for a total transaction of $307,729.40. Following the transaction, the executive vice president now owns 306,555 shares in the company, valued at $6,259,853.10. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Jeffrey Gennette sold 30,090 shares of Macy’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $19.66, for a total transaction of $591,569.40. Following the transaction, the director now owns 1,073,699 shares in the company, valued at approximately $21,108,922.34. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 218,424 shares of company stock valued at $4,405,507. 1.52% of the stock is currently owned by insiders.

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.