Vontobel Holding Ltd. Acquires 11,276 Shares of Macy’s, Inc. (NYSE:M)

Vontobel Holding Ltd. boosted its holdings in shares of Macy’s, Inc. (NYSE:M) by 54.8% in the third quarter, according to its most recent filing with the SEC. The firm owned 31,860 shares of the company’s stock after acquiring an additional 11,276 shares during the period. Vontobel Holding Ltd.’s holdings in Macy’s were worth $500,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in M. Dimensional Fund Advisors LP grew its stake in shares of Macy’s by 9.8% during the second quarter. Dimensional Fund Advisors LP now owns 15,489,334 shares of the company’s stock worth $297,385,000 after purchasing an additional 1,379,476 shares during the period. LSV Asset Management grew its position in shares of Macy’s by 1.3% during the 2nd quarter. LSV Asset Management now owns 5,374,167 shares of the company’s stock worth $103,184,000 after buying an additional 68,300 shares during the period. American Century Companies Inc. increased its stake in shares of Macy’s by 18.9% in the 2nd quarter. American Century Companies Inc. now owns 4,704,854 shares of the company’s stock valued at $90,333,000 after acquiring an additional 747,542 shares during the last quarter. Marshall Wace LLP raised its position in shares of Macy’s by 1,539.5% in the 2nd quarter. Marshall Wace LLP now owns 3,534,952 shares of the company’s stock valued at $67,871,000 after acquiring an additional 3,319,337 shares during the period. Finally, Bank of New York Mellon Corp boosted its stake in Macy’s by 1.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 3,185,513 shares of the company’s stock worth $61,162,000 after acquiring an additional 37,254 shares during the last quarter. Institutional investors own 87.36% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on M. Morgan Stanley cut their target price on shares of Macy’s from $18.00 to $17.00 and set an “equal weight” rating on the stock in a report on Thursday, August 22nd. Argus upgraded Macy’s to a “hold” rating in a report on Thursday, October 10th. Evercore ISI lowered their price target on Macy’s from $22.00 to $17.00 and set an “in-line” rating for the company in a report on Tuesday, July 16th. Telsey Advisory Group reiterated a “market perform” rating and set a $21.00 price objective on shares of Macy’s in a report on Wednesday, August 21st. Finally, StockNews.com started coverage on Macy’s in a research report on Thursday, October 17th. They issued a “hold” rating for the company. Seven equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $20.43.

Macy’s Stock Down 1.1 %

NYSE:M opened at $16.01 on Tuesday. The stock has a 50-day simple moving average of $15.55 and a 200 day simple moving average of $17.44. Macy’s, Inc. has a 52-week low of $10.59 and a 52-week high of $22.10. The company has a market cap of $4.43 billion, a PE ratio of 535.33 and a beta of 2.11. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.34 and a current ratio of 1.48.

Macy’s (NYSE:M) last posted its quarterly earnings data on Wednesday, August 21st. The company reported $0.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.30 by $0.23. Macy’s had a net margin of 0.80% and a return on equity of 23.14%. The company had revenue of $4.94 billion for the quarter, compared to the consensus estimate of $5.06 billion. During the same period last year, the company earned $0.26 earnings per share. The firm’s revenue was down 3.8% compared to the same quarter last year. On average, sell-side analysts expect that Macy’s, Inc. will post 2.72 EPS for the current fiscal year.

Macy’s Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th were issued a $0.1737 dividend. This represents a $0.69 annualized dividend and a dividend yield of 4.34%. The ex-dividend date was Friday, September 13th. Macy’s’s payout ratio is 2,300.00%.

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.