Vontobel Holding Ltd. Acquires New Stake in Macy's, Inc. (NYSE:M)

Vontobel Holding Ltd. acquired a new stake in Macy's, Inc. (NYSE:M - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 24,210 shares of the company's stock, valued at approximately $304,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Coldstream Capital Management Inc. raised its position in Macy's by 4.9% in the 4th quarter. Coldstream Capital Management Inc. now owns 15,442 shares of the company's stock valued at $261,000 after purchasing an additional 717 shares in the last quarter. Treasurer of the State of North Carolina raised its position in Macy's by 0.6% in the 4th quarter. Treasurer of the State of North Carolina now owns 120,414 shares of the company's stock valued at $2,039,000 after purchasing an additional 760 shares in the last quarter. Quantinno Capital Management LP raised its position in Macy's by 0.9% in the 4th quarter. Quantinno Capital Management LP now owns 102,538 shares of the company's stock valued at $1,736,000 after purchasing an additional 872 shares in the last quarter. ProShare Advisors LLC raised its position in Macy's by 7.7% in the 4th quarter. ProShare Advisors LLC now owns 12,978 shares of the company's stock valued at $220,000 after purchasing an additional 924 shares in the last quarter. Finally, Arizona State Retirement System raised its position in Macy's by 1.2% in the 4th quarter. Arizona State Retirement System now owns 80,549 shares of the company's stock valued at $1,364,000 after purchasing an additional 958 shares in the last quarter. Hedge funds and other institutional investors own 87.36% of the company's stock.

Macy's Trading Up 0.7%

NYSE:M opened at $12.54 on Wednesday. The stock's 50 day moving average price is $11.79 and its 200 day moving average price is $13.21. The company has a market capitalization of $3.41 billion, a PE ratio of 6.37 and a beta of 1.71. The company has a quick ratio of 0.37, a current ratio of 1.43 and a debt-to-equity ratio of 0.62. Macy's, Inc. has a 52-week low of $9.76 and a 52-week high of $19.71.

Macy's (NYSE:M - Get Free Report) last announced its earnings results on Wednesday, May 28th. The company reported $0.16 earnings per share for the quarter, beating the consensus estimate of $0.15 by $0.01. Macy's had a return on equity of 16.34% and a net margin of 2.45%. The company had revenue of $4.60 billion for the quarter, compared to the consensus estimate of $4.38 billion. During the same period last year, the business posted $0.27 EPS. The company's revenue was down 5.1% on a year-over-year basis. On average, research analysts anticipate that Macy's, Inc. will post 2.39 EPS for the current year.

Macy's Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th were given a dividend of $0.1824 per share. This represents a $0.73 dividend on an annualized basis and a yield of 5.82%. The ex-dividend date was Friday, June 13th. Macy's's dividend payout ratio (DPR) is presently 37.06%.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on M shares. Telsey Advisory Group reduced their price target on Macy's from $15.00 to $14.00 and set a "market perform" rating on the stock in a research report on Thursday, May 29th. The Goldman Sachs Group downgraded Macy's from a "buy" rating to a "neutral" rating and dropped their price objective for the company from $17.00 to $12.00 in a report on Tuesday, April 22nd. Morgan Stanley reiterated a "negative" rating on shares of Macy's in a report on Tuesday, May 6th. JPMorgan Chase & Co. dropped their price objective on Macy's from $13.00 to $12.00 and set a "neutral" rating on the stock in a report on Thursday, May 29th. Finally, Barclays began coverage on Macy's in a report on Monday, April 28th. They issued a "cautious" rating and a $12.00 price objective on the stock. Two research analysts have rated the stock with a sell rating, ten have given a hold rating, one has given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, Macy's presently has a consensus rating of "Hold" and a consensus price target of $13.20.

Macy's Company Profile

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.

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