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

Macy’s, Inc. (NYSE:M) was the recipient of a large growth in short interest in August. As of August 31st, there was short interest totalling 15,850,000 shares, a growth of 19.7% from the August 15th total of 13,240,000 shares. Based on an average daily volume of 6,220,000 shares, the short-interest ratio is currently 2.5 days. Currently, 5.8% of the shares of the stock are short sold.

Macy’s Stock Up 3.3 %

Shares of M stock traded up $0.48 during trading hours on Friday, hitting $15.00. 6,098,194 shares of the company’s stock traded hands, compared to its average volume of 6,690,982. Macy’s has a 12-month low of $10.54 and a 12-month high of $22.10. The stock has a market cap of $4.16 billion, a price-to-earnings ratio of 500.00 and a beta of 2.11. The stock’s fifty day simple moving average is $16.29 and its two-hundred day simple moving average is $18.27. The company has a quick ratio of 0.34, a current ratio of 1.48 and a debt-to-equity ratio of 0.70.

Macy’s (NYSE:M) last announced its quarterly earnings data on Wednesday, August 21st. The company reported $0.53 earnings per share for the quarter, topping 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 during the quarter, compared to analyst estimates of $5.06 billion. During the same period in the previous year, the business earned $0.26 EPS. The firm’s revenue for the quarter was down 3.8% on a year-over-year basis. On average, analysts expect that Macy’s will post 2.72 EPS for the current year.

Macy’s Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th will be given a $0.1737 dividend. This represents a $0.69 dividend on an annualized basis and a yield of 4.63%. The ex-dividend date of this dividend is Friday, September 13th. Macy’s’s dividend payout ratio (DPR) is presently 2,300.00%.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. Telsey Advisory Group reaffirmed a “market perform” rating and set a $21.00 price objective on shares of Macy’s in a research note on Wednesday, August 21st. JPMorgan Chase & Co. raised their target price on Macy’s from $25.00 to $27.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 22nd. StockNews.com started coverage on Macy’s in a research note on Sunday. They issued a “hold” rating on the stock. TD Cowen raised their target price on Macy’s from $20.00 to $21.00 and gave the stock a “hold” rating in a research note on Wednesday, May 22nd. Finally, Evercore ISI cut their target price on Macy’s from $22.00 to $17.00 and set an “in-line” rating on the stock in a research note on Tuesday, July 16th. Seven analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $19.50.

Insider Activity

In other news, EVP Danielle L. Kirgan sold 24,147 shares of the business’s stock in a transaction on Wednesday, July 10th. The shares were sold at an average price of $18.96, for a total transaction of $457,827.12. Following the completion of the transaction, the executive vice president now directly owns 348,000 shares in the company, valued at approximately $6,598,080. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Antony Spring sold 18,981 shares of the stock in a transaction on Wednesday, July 10th. The stock was sold at an average price of $18.96, for a total value of $359,879.76. Following the transaction, the chief executive officer now owns 267,265 shares of the company’s stock, valued at $5,067,344.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Danielle L. Kirgan sold 24,147 shares of the stock in a transaction on Wednesday, July 10th. The shares were sold at an average price of $18.96, for a total value of $457,827.12. Following the completion of the transaction, the executive vice president now directly owns 348,000 shares in the company, valued at approximately $6,598,080. The disclosure for this sale can be found here. Insiders sold 44,665 shares of company stock worth $842,372 in the last three months. Corporate insiders own 2.77% of the company’s stock.

Institutional Investors Weigh In On Macy’s

Large investors have recently added to or reduced their stakes in the stock. Creative Planning grew its position in shares of Macy’s by 4.2% during the 2nd quarter. Creative Planning now owns 62,703 shares of the company’s stock valued at $1,204,000 after acquiring an additional 2,554 shares during the period. Algert Global LLC lifted its stake in shares of Macy’s by 200.3% during the 2nd quarter. Algert Global LLC now owns 230,559 shares of the company’s stock valued at $4,427,000 after buying an additional 153,789 shares in the last quarter. Abich Financial Wealth Management LLC purchased a new position in shares of Macy’s during the 2nd quarter valued at $57,000. Affinity Capital Advisors LLC purchased a new position in shares of Macy’s during the 2nd quarter valued at $209,000. Finally, Alden Global Capital LLC lifted its stake in shares of Macy’s by 56.1% during the 2nd quarter. Alden Global Capital LLC now owns 606,741 shares of the company’s stock valued at $11,649,000 after buying an additional 218,146 shares in the last quarter. Institutional investors own 87.36% of the company’s stock.

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.