Macy's Inc (M) Short Interest Update

Macy's Inc (NYSE:M) was the target of a significant decrease in short interest in the month of January. As of January 31st, there was short interest totalling 42,176,571 shares, a decrease of 11.2% from the January 12th total of 47,489,308 shares. Currently, 13.9% of the shares of the stock are short sold. Based on an average daily volume of 7,586,305 shares, the days-to-cover ratio is presently 5.6 days.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Raymond James & Associates increased its holdings in shares of Macy's by 147.2% in the 4th quarter. Raymond James & Associates now owns 309,016 shares of the company’s stock valued at $7,784,000 after purchasing an additional 184,002 shares during the period. California State Teachers Retirement System increased its holdings in shares of Macy's by 7.7% in the 4th quarter. California State Teachers Retirement System now owns 599,936 shares of the company’s stock valued at $15,112,000 after purchasing an additional 42,796 shares during the period. Stone Ridge Asset Management LLC acquired a new position in shares of Macy's in the 4th quarter valued at about $2,255,000. Guggenheim Capital LLC increased its holdings in shares of Macy's by 22.3% in the 4th quarter. Guggenheim Capital LLC now owns 2,034,800 shares of the company’s stock valued at $51,255,000 after purchasing an additional 371,533 shares during the period. Finally, Virtue Capital Management LLC acquired a new position in shares of Macy's in the 4th quarter valued at about $732,000. Hedge funds and other institutional investors own 81.99% of the company’s stock.

A number of equities research analysts have weighed in on M shares. BMO Capital Markets reissued a “buy” rating and issued a $36.00 price target on shares of Macy's in a report on Thursday, November 2nd. Citigroup downgraded shares of Macy's from a “neutral” rating to a “sell” rating and cut their price target for the company from $21.00 to $16.00 in a report on Monday, October 30th. Vetr raised shares of Macy's from a “buy” rating to a “strong-buy” rating and set a $27.57 price target for the company in a report on Monday, December 18th. Guggenheim reissued a “buy” rating and issued a $27.00 price target on shares of Macy's in a report on Friday, December 15th. Finally, Royal Bank of Canada set a $26.00 price target on shares of Macy's and gave the company a “hold” rating in a report on Friday, January 19th. Two investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $26.07.

Macy's (NYSE M) traded up $0.76 during midday trading on Wednesday, reaching $25.64. The company’s stock had a trading volume of 7,411,278 shares, compared to its average volume of 11,010,000. The company has a current ratio of 1.29, a quick ratio of 0.19 and a debt-to-equity ratio of 1.49. The firm has a market cap of $7,810.00, a P/E ratio of 11.30, a PEG ratio of 1.02 and a beta of 0.98. Macy's has a 12-month low of $17.41 and a 12-month high of $33.73.

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Macy's Company Profile

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.

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