Macy's Inc (NYSE:M) was the target of a large decline in short interest in the month of June. As of June 30th, there was short interest totalling 23,560,021 shares, a decline of 21.2% from the June 15th total of 29,882,865 shares. Based on an average trading volume of 7,949,786 shares, the short-interest ratio is presently 3.0 days. Currently, 7.8% of the company’s shares are short sold.
Macy's (NYSE M) opened at 23.05 on Tuesday. Macy's has a 12 month low of $20.85 and a 12 month high of $45.41. The stock’s 50 day moving average price is $22.92 and its 200-day moving average price is $29.24. The firm has a market capitalization of $7.02 billion, a P/E ratio of 12.43 and a beta of 0.84.
Macy's (NYSE:M) last posted its earnings results on Thursday, May 11th. The company reported $0.24 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.36 by $0.12. Macy's had a net margin of 1.31% and a return on equity of 6.60%. The company had revenue of $5.34 billion during the quarter, compared to analyst estimates of $5.49 billion. During the same quarter last year, the business posted $0.40 EPS. Macy's’s quarterly revenue was down 7.5% compared to the same quarter last year. On average, analysts forecast that Macy's will post $3.34 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Monday, July 3rd. Stockholders of record on Thursday, June 15th were paid a $0.3775 dividend. The ex-dividend date was Tuesday, June 13th. This represents a $1.51 dividend on an annualized basis and a dividend yield of 6.55%. Macy's’s dividend payout ratio (DPR) is currently 81.62%.
A number of brokerages recently issued reports on M. Cowen and Company set a $29.00 price objective on Macy's and gave the stock a “hold” rating in a research report on Saturday, May 13th. Royal Bank Of Canada set a $28.00 price objective on Macy's and gave the stock a “hold” rating in a research report on Saturday, May 13th. Jefferies Group LLC cut their price objective on Macy's from $27.00 to $24.00 and set a “hold” rating for the company in a research report on Friday, June 9th. Northcoast Research reissued a “neutral” rating on shares of Macy's in a research report on Thursday, May 11th. Finally, Goldman Sachs Group, Inc. (The) cut their price objective on Macy's from $28.00 to $25.00 and set a “neutral” rating for the company in a research report on Wednesday, June 7th. Two research analysts have rated the stock with a sell rating, seventeen have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $32.26.
In related news, insider Jeffrey Gennette purchased 13,085 shares of Macy's stock in a transaction dated Monday, June 12th. The shares were acquired at an average price of $22.95 per share, for a total transaction of $300,300.75. Following the acquisition, the insider now directly owns 89,053 shares in the company, valued at $2,043,766.35. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, Director William H. Lenehan purchased 4,390 shares of Macy's stock in a transaction dated Thursday, June 15th. The shares were bought at an average price of $22.72 per share, for a total transaction of $99,740.80. Following the acquisition, the director now owns 5,968 shares in the company, valued at $135,592.96. The disclosure for this purchase can be found here. 1.40% of the stock is owned by insiders.
Large investors have recently bought and sold shares of the stock. Penserra Capital Management LLC raised its stake in Macy's by 9.5% in the first quarter. Penserra Capital Management LLC now owns 3,680 shares of the company’s stock worth $109,000 after buying an additional 320 shares during the period. Ropes Wealth Advisors LLC raised its stake in Macy's by 63.5% in the first quarter. Ropes Wealth Advisors LLC now owns 4,806 shares of the company’s stock worth $142,000 after buying an additional 1,866 shares during the period. Winslow Evans & Crocker Inc. raised its stake in Macy's by 241.4% in the first quarter. Winslow Evans & Crocker Inc. now owns 5,530 shares of the company’s stock worth $164,000 after buying an additional 3,910 shares during the period. First Manhattan Co. raised its stake in Macy's by 0.6% in the first quarter. First Manhattan Co. now owns 5,076 shares of the company’s stock worth $188,000 after buying an additional 29 shares during the period. Finally, Pacer Advisors Inc. raised its stake in Macy's by 3.2% in the first quarter. Pacer Advisors Inc. now owns 6,500 shares of the company’s stock worth $193,000 after buying an additional 200 shares during the period. Institutional investors and hedge funds own 84.46% of the company’s stock.
ILLEGAL ACTIVITY WARNING: This news story was originally published by Community Financial News and is owned by of Community Financial News. If you are accessing this news story on another website, it was copied illegally and republished in violation of US and international copyright and trademark legislation. The correct version of this news story can be viewed at https://www.com-unik.info/2017/07/18/macys-inc-nysem-short-interest-down-21-2-in-june.html.
Macy’s, Inc is an omnichannel retail company operating stores, Websites and mobile applications under various brands, such as Macy’s, Bloomingdale’s and Bluemercury. The Company sells a range of merchandise, including apparel and accessories (men’s, women’s and children’s), cosmetics, home furnishings and other consumer goods.
What are top analysts saying about Macy's Inc? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Macy's Inc and related companies.