Macy's Inc (M) Sees Significant Drop in Short Interest

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

Several equities research analysts have commented on the stock. ValuEngine lowered shares of Macy's from a “buy” rating to a “hold” rating in a research note on Friday, February 2nd. Royal Bank of Canada set a $26.00 price objective on shares of Macy's and gave the company a “hold” rating in a research note on Friday, January 19th. Zacks Investment Research upgraded shares of Macy's from a “hold” rating to a “buy” rating and set a $28.00 price objective for the company in a research note on Wednesday, January 10th. Guggenheim reiterated a “buy” rating and issued a $27.00 price objective on shares of Macy's in a research note on Friday, December 15th. Finally, Telsey Advisory Group increased their price objective on shares of Macy's from $25.00 to $28.00 and gave the company a “market perform” rating in a research note on Thursday, December 28th. 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 issued a strong buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $26.07.

Several hedge funds have recently modified their holdings of the company. Vestpro Financial Partners Inc. dba CPF Texas purchased a new position in Macy's in the 4th quarter valued at approximately $104,000. SeaCrest Wealth Management LLC purchased a new position in Macy's in the 4th quarter valued at approximately $119,000. Cerebellum GP LLC purchased a new position in Macy's in the 4th quarter valued at approximately $127,000. Enterprise Financial Services Corp grew its stake in Macy's by 102.4% in the 4th quarter. Enterprise Financial Services Corp now owns 5,348 shares of the company’s stock valued at $135,000 after buying an additional 2,706 shares in the last quarter. Finally, Kistler Tiffany Companies LLC purchased a new position in Macy's in the 3rd quarter valued at approximately $148,000. Institutional investors own 81.99% of the company’s stock.

Shares of Macy's (NYSE:M) opened at $24.19 on Tuesday. The company has a debt-to-equity ratio of 1.49, a quick ratio of 0.19 and a current ratio of 1.29. Macy's has a one year low of $17.41 and a one year high of $33.73. The stock has a market cap of $7,370.00, a P/E ratio of 10.66, a PEG ratio of 1.01 and a beta of 0.98.

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About Macy's

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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