Macy’s Inc (NYSE:M) Short Interest Update

Macy’s Inc (NYSE:M) was the recipient of a large decline in short interest during the month of December. As of December 31st, there was short interest totalling 88,950,000 shares, a decline of 5.2% from the December 15th total of 93,800,000 shares. Approximately 28.8% of the shares of the stock are short sold. Based on an average daily volume of 17,170,000 shares, the days-to-cover ratio is presently 5.2 days.

A number of institutional investors and hedge funds have recently modified their holdings of M. BlackRock Inc. boosted its stake in shares of Macy’s by 1.9% in the 2nd quarter. BlackRock Inc. now owns 30,631,976 shares of the company’s stock worth $657,361,000 after buying an additional 558,052 shares during the last quarter. Yacktman Asset Management LP boosted its position in Macy’s by 114.9% in the third quarter. Yacktman Asset Management LP now owns 23,761,884 shares of the company’s stock worth $369,260,000 after purchasing an additional 12,705,052 shares during the last quarter. State Street Corp boosted its position in Macy’s by 1.8% in the third quarter. State Street Corp now owns 16,572,198 shares of the company’s stock worth $263,677,000 after purchasing an additional 300,985 shares during the last quarter. Invesco Ltd. grew its stake in Macy’s by 62.2% in the 2nd quarter. Invesco Ltd. now owns 5,600,515 shares of the company’s stock valued at $120,187,000 after purchasing an additional 2,148,243 shares during the period. Finally, Prudential PLC grew its stake in Macy’s by 9.9% in the 2nd quarter. Prudential PLC now owns 4,319,853 shares of the company’s stock valued at $92,700,000 after purchasing an additional 388,253 shares during the period. Institutional investors own 90.70% of the company’s stock.

M traded up $0.08 on Thursday, hitting $17.50. 1,634,824 shares of the company’s stock were exchanged, compared to its average volume of 14,766,283. Macy’s has a fifty-two week low of $14.11 and a fifty-two week high of $26.48. The company has a current ratio of 1.28, a quick ratio of 0.16 and a debt-to-equity ratio of 1.24. The stock has a market cap of $5.52 billion, a price-to-earnings ratio of 4.19, a P/E/G ratio of 0.88 and a beta of 0.65. The firm has a 50-day moving average price of $16.24 and a 200-day moving average price of $17.14.

Macy’s (NYSE:M) last announced its quarterly earnings data on Thursday, November 21st. The company reported $0.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.01 by $0.06. The business had revenue of $5.17 billion for the quarter, compared to analysts’ expectations of $5.31 billion. Macy’s had a return on equity of 17.44% and a net margin of 3.91%. The company’s revenue for the quarter was down 4.3% compared to the same quarter last year. During the same period last year, the firm earned $0.27 earnings per share. On average, equities analysts predict that Macy’s will post 2.72 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Friday, December 13th were issued a $0.3775 dividend. This is a boost from Macy’s’s previous quarterly dividend of $0.38. This represents a $1.51 annualized dividend and a dividend yield of 8.63%. The ex-dividend date of this dividend was Thursday, December 12th. Macy’s’s dividend payout ratio (DPR) is currently 36.12%.

Several research firms have recently issued reports on M. Bank of America restated a “sell” rating and set a $12.00 target price (down from $14.00) on shares of Macy’s in a research report on Thursday, November 21st. Deutsche Bank decreased their target price on shares of Macy’s from $22.00 to $18.00 and set a “hold” rating for the company in a research note on Friday, November 22nd. Goldman Sachs Group lowered shares of Macy’s from a “neutral” rating to a “sell” rating and dropped their price objective for the company from $19.00 to $12.00 in a research report on Monday, December 9th. Telsey Advisory Group reduced their price target on Macy’s from $18.00 to $16.00 and set a “market perform” rating for the company in a research note on Friday, November 22nd. Finally, Guggenheim reiterated a “hold” rating on shares of Macy’s in a research report on Wednesday, January 8th. Five research analysts have rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $16.02.

Macy’s Company Profile

Macy's, Inc, an omnichannel retail organization, operates stores, Websites, and mobile applications. The company sells a range of merchandise, including apparel and accessories for men, women, and children; cosmetics; home furnishings; and other consumer goods. As of April 1, 2019, it operated approximately 680 department stores under the Macy's and Bloomingdale's names; and 190 specialty stores, such as Bloomingdale's The Outlet, Bluemercury, Macy's Backstage, and STORY in 43 states, the District of Columbia, Guam, and Puerto Rico.

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