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

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

A number of other institutional investors also recently bought and sold shares of M. Waterfront Wealth Inc. raised its stake in shares of Macy's by 3.4% in the 1st quarter. Waterfront Wealth Inc. now owns 196,227 shares of the company's stock valued at $2,465,000 after acquiring an additional 6,396 shares during the period. Highland Capital Management LLC raised its stake in shares of Macy's by 15.6% in the 1st quarter. Highland Capital Management LLC now owns 25,582 shares of the company's stock valued at $321,000 after acquiring an additional 3,443 shares during the period. Illinois Municipal Retirement Fund raised its stake in shares of Macy's by 15.6% in the 1st quarter. Illinois Municipal Retirement Fund now owns 276,903 shares of the company's stock valued at $3,478,000 after acquiring an additional 37,334 shares during the period. PFG Investments LLC purchased a new stake in shares of Macy's in the 1st quarter valued at approximately $156,000. Finally, Jamison Private Wealth Management Inc. raised its stake in shares of Macy's by 9.6% in the 1st quarter. Jamison Private Wealth Management Inc. now owns 15,397 shares of the company's stock valued at $193,000 after acquiring an additional 1,353 shares during the period. 87.36% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Macy's Stock Down 1.6%

NYSE M traded down $0.20 on Friday, hitting $12.53. 5,278,903 shares of the stock were exchanged, compared to its average volume of 6,723,665. 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 fifty-two week low of $9.76 and a fifty-two week high of $18.13. The company has a market cap of $3.40 billion, a PE ratio of 6.36 and a beta of 1.71. The company has a 50-day moving average price of $11.84 and a 200-day moving average price of $13.12.

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

Macy's Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 1st. Stockholders of record on Friday, June 13th were issued a $0.1824 dividend. This represents a $0.73 annualized dividend and a dividend yield of 5.82%. The ex-dividend date of this dividend was Friday, June 13th. Macy's's payout ratio is 37.06%.

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.