Macy’s Inc. (M) Sees Large Increase in Short Interest

Macy’s Inc. (NYSE:M) was the target of a large growth in short interest in March. As of March 15th, there was short interest totalling 52,342,975 shares, a growth of 22.0% from the February 28th total of 42,909,255 shares. Approximately 17.2% of the shares of the stock are short sold. Based on an average daily volume of 10,645,196 shares, the short-interest ratio is currently 4.9 days.

NYSE:M opened at $29.74 on Friday. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.45 and a current ratio of 1.47. Macy’s has a 1 year low of $17.41 and a 1 year high of $31.04. The company has a market cap of $9,064.75, a P/E ratio of 7.89, a P/E/G ratio of 0.96 and a beta of 0.79.

Macy’s (NYSE:M) last posted its quarterly earnings results on Tuesday, February 27th. The company reported $2.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.71 by $0.11. Macy’s had a return on equity of 24.93% and a net margin of 6.23%. The business had revenue of $8.67 billion for the quarter, compared to analyst estimates of $8.70 billion. During the same period last year, the company earned $2.02 EPS. Macy’s’s revenue for the quarter was up 1.8% compared to the same quarter last year. research analysts forecast that Macy’s will post 3.63 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Monday, April 2nd. Investors of record on Thursday, March 15th will be given a dividend of $0.3775 per share. The ex-dividend date of this dividend is Wednesday, March 14th. This represents a $1.51 annualized dividend and a yield of 5.08%. Macy’s’s payout ratio is 40.05%.

M has been the topic of a number of research analyst reports. Vetr upgraded Macy’s from a “buy” rating to a “strong-buy” rating and set a $27.57 target price on the stock in a research note on Monday, December 18th. Guggenheim restated a “buy” rating and issued a $27.00 target price on shares of Macy’s in a research note on Friday, December 15th. Royal Bank of Canada set a $26.00 target price on Macy’s and gave the stock a “hold” rating in a research note on Friday, January 19th. ValuEngine upgraded Macy’s from a “hold” rating to a “buy” rating in a research report on Thursday, March 1st. Finally, Credit Suisse Group began coverage on Macy’s in a research report on Monday, March 12th. They set a “neutral” rating and a $31.00 price objective on the stock. Two analysts have rated the stock with a sell rating, thirteen have issued a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. Macy’s presently has a consensus rating of “Hold” and an average price target of $26.60.

In other Macy’s news, Director Deirdre P. Connelly sold 9,092 shares of the company’s stock in a transaction dated Thursday, March 8th. The stock was sold at an average price of $29.25, for a total value of $265,941.00. Following the transaction, the director now directly owns 16,184 shares in the company, valued at approximately $473,382. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Marna C. Whittington sold 20,000 shares of the company’s stock in a transaction dated Friday, March 2nd. The stock was sold at an average price of $30.30, for a total value of $606,000.00. Following the completion of the transaction, the director now owns 54,834 shares in the company, valued at $1,661,470.20. The disclosure for this sale can be found here. Insiders have sold a total of 107,392 shares of company stock worth $3,173,164 in the last three months. 1.40% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Cambridge Investment Research Advisors Inc. grew its position in Macy’s by 27.9% during the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 13,997 shares of the company’s stock worth $353,000 after acquiring an additional 3,055 shares during the last quarter. Xact Kapitalforvaltning AB grew its position in Macy’s by 7.1% during the 4th quarter. Xact Kapitalforvaltning AB now owns 53,586 shares of the company’s stock worth $1,350,000 after acquiring an additional 3,568 shares during the last quarter. Delek Group Ltd. bought a new position in Macy’s during the 4th quarter worth approximately $7,414,000. Sawtooth Solutions LLC bought a new position in Macy’s during the 4th quarter worth approximately $1,064,000. Finally, Edmonds Duncan Registered Investment Advisors LLC bought a new position in Macy’s during the 4th quarter worth approximately $243,000. Institutional investors and hedge funds own 86.88% of the company’s stock.

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About Macy’s

Macy's, Inc, together with its subsidiaries, operates stores, Websites, and mobile applications. Its stores and Websites sell a range of merchandise, including apparel and accessories for men, women, and children; cosmetics; home furnishings; and other consumer goods. The company also operates stores that offer a range of women's, men's, and children's apparel; shoes; fashion accessories; housewares; home textiles; intimate apparel; and jewelry.

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