Macy’s, Inc. (NYSE:M) Stock Position Decreased by Vontobel Holding Ltd.

Vontobel Holding Ltd. lessened its holdings in Macy’s, Inc. (NYSE:M) by 79.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. 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 SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of M. Vanguard Group Inc. boosted its position in shares of Macy’s by 7.8% in the third quarter. Vanguard Group Inc. now owns 36,381,604 shares of the company’s stock worth $422,390,000 after buying an additional 2,645,577 shares during the period. Deutsche Bank AG boosted its position in shares of Macy’s by 260.8% in the third quarter. Deutsche Bank AG now owns 2,547,529 shares of the company’s stock worth $29,577,000 after buying an additional 1,841,432 shares during the period. AQR Capital Management LLC raised its holdings in shares of 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 in the last quarter. Barclays PLC raised its holdings in shares of Macy’s by 140.0% during the third quarter. Barclays PLC now owns 2,526,523 shares of the company’s stock worth $29,331,000 after acquiring an additional 1,473,923 shares in the last quarter. Finally, American Century Companies Inc. raised its holdings in shares of 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 in the last quarter. Institutional investors and hedge funds own 87.36% of the company’s stock.

Insider Activity at Macy’s

In related news, EVP Danielle L. Kirgan sold 15,070 shares of the business’s stock in a transaction dated Friday, March 22nd. The stock was sold at an average price of $20.42, for a total transaction of $307,729.40. Following the transaction, the executive vice president now directly owns 306,555 shares in the company, valued at $6,259,853.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, EVP Danielle L. Kirgan sold 15,070 shares of the business’s stock in a transaction dated Friday, March 22nd. The stock was sold at an average price of $20.42, for a total transaction of $307,729.40. Following the transaction, the executive vice president now directly owns 306,555 shares in the company, valued at $6,259,853.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Adrian V. Mitchell sold 13,249 shares of the business’s stock in a transaction dated Friday, March 22nd. The shares were sold at an average price of $20.42, for a total value of $270,544.58. Following the transaction, the chief financial officer now owns 99,098 shares in the company, valued at $2,023,581.16. The disclosure for this sale can be found here. Insiders have sold 218,424 shares of company stock worth $4,405,507 over the last three months. Company insiders own 1.52% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. JPMorgan Chase & Co. increased their price objective on 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 increased their price objective on Macy’s from $16.00 to $22.00 and gave the stock a “buy” rating in a report on Wednesday, February 28th. Citigroup upgraded Macy’s from a “sell” rating to a “neutral” rating and increased their price objective for the stock from $14.00 to $18.00 in a report on Friday, February 2nd. TD Cowen lowered Macy’s from an “outperform” rating to a “market perform” rating and cut their target price for the company from $23.00 to $20.00 in a report on Thursday, February 29th. Finally, StockNews.com assumed coverage on Macy’s in a report on Wednesday. They set a “hold” rating on the stock. Two research analysts have rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $17.45.

Macy’s Trading Up 1.4 %

Shares of NYSE:M opened at $19.02 on Wednesday. The company has a market cap of $5.23 billion, a P/E ratio of 51.41 and a beta of 2.15. The stock’s 50-day moving average is $19.68 and its 200-day moving average is $17.41. Macy’s, Inc. has a 52-week low of $10.54 and a 52-week high of $22.10. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.39 and a current ratio of 1.37.

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

Macy’s Increases Dividend

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

Macy’s Company 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.