Macy’s Inc (M) Sees Significant Decrease in Short Interest

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Macy’s Inc (NYSE:M) was the recipient of a significant decline in short interest in August. As of August 15th, there was short interest totalling 39,010,058 shares, a decline of 7.8% from the July 31st total of 42,319,421 shares. Approximately 12.8% of the company’s shares are sold short. Based on an average daily trading volume, of 10,187,878 shares, the short-interest ratio is presently 3.8 days.

Shares of NYSE:M opened at $35.97 on Friday. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.53 and a quick ratio of 0.43. The firm has a market capitalization of $11.12 billion, a P/E ratio of 9.52, a P/E/G ratio of 1.08 and a beta of 0.79. Macy’s has a 12-month low of $17.41 and a 12-month high of $41.99.

Macy’s (NYSE:M) last issued its quarterly earnings results on Wednesday, August 15th. The company reported $0.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.50 by $0.20. The business had revenue of $5.57 billion during the quarter, compared to analyst estimates of $5.55 billion. Macy’s had a net margin of 6.65% and a return on equity of 23.55%. The business’s revenue was down 1.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.48 earnings per share. equities research analysts predict that Macy’s will post 3.95 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Monday, October 1st. Investors of record on Friday, September 14th will be paid a $0.3775 dividend. The ex-dividend date of this dividend is Thursday, September 13th. This represents a $1.51 dividend on an annualized basis and a dividend yield of 4.20%. Macy’s’s dividend payout ratio (DPR) is presently 40.05%.

A number of research analysts have recently commented on the stock. Susquehanna Bancshares reissued a “positive” rating on shares of Macy’s in a research report on Thursday, June 7th. Cowen reissued a “hold” rating on shares of Macy’s in a research report on Thursday, June 7th. Standpoint Research cut shares of Macy’s from a “buy” rating to a “hold” rating in a research report on Friday, August 10th. Atlantic Securities cut shares of Macy’s from an “overweight” rating to a “neutral” rating and set a $39.00 target price on the stock. in a research report on Wednesday, June 6th. They noted that the move was a valuation call. Finally, UBS Group assumed coverage on shares of Macy’s in a research report on Thursday, June 21st. They set a “neutral” rating and a $39.00 target price on the stock. Three research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. Macy’s currently has an average rating of “Hold” and an average price target of $33.61.

In other news, Director William H. Lenehan bought 2,092 shares of Macy’s stock in a transaction dated Friday, August 17th. The shares were acquired at an average cost of $35.78 per share, with a total value of $74,851.76. Following the completion of the transaction, the director now owns 8,060 shares in the company, valued at approximately $288,386.80. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 2.36% of the company’s stock.

Several large investors have recently modified their holdings of M. Apertura Capital LLC bought a new stake in Macy’s during the first quarter valued at $17,202,000. BlackRock Inc. increased its stake in Macy’s by 10.6% during the first quarter. BlackRock Inc. now owns 27,873,644 shares of the company’s stock valued at $828,961,000 after purchasing an additional 2,667,028 shares during the last quarter. Norinchukin Bank The increased its stake in Macy’s by 18.2% during the first quarter. Norinchukin Bank The now owns 34,260 shares of the company’s stock valued at $1,019,000 after purchasing an additional 5,276 shares during the last quarter. Beese Fulmer Investment Management Inc. bought a new stake in Macy’s during the second quarter valued at $212,000. Finally, CIBC Private Wealth Group LLC increased its stake in Macy’s by 8,081.8% during the second quarter. CIBC Private Wealth Group LLC now owns 99,981 shares of the company’s stock valued at $3,742,000 after purchasing an additional 98,759 shares during the last quarter. Institutional investors and hedge funds own 90.39% of the company’s stock.

About Macy’s

Macy's, Inc, an omni-channel retail organization, operates stores, Websites, and mobile applications. The company sells a range of merchandise, such as apparel and accessories for men, women, and children; cosmetics; home furnishings; and other consumer goods. As of April 4, 2018, it operated approximately 690 department stores under the Macy's and Bloomingdale's brands; 160 specialty stores under the Bloomingdale's The Outlet, Bluemercury, and Macy's Backstage brands in the District of Columbia, Guam, and Puerto Rico; and Websites, including macys.com, bloomingdales.com, and bluemercury.com.

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