Macy’s, Inc. (NYSE:M – Get Free Report) saw a large decrease in short interest in the month of November. As of November 30th, there was short interest totalling 31,650,000 shares, a decrease of 18.3% from the November 15th total of 38,760,000 shares. Currently, 11.6% of the shares of the stock are sold short. Based on an average trading volume of 13,520,000 shares, the short-interest ratio is presently 2.3 days.

Insider Transactions at Macy’s

In other news, CFO Adrian V. Mitchell sold 57,214 shares of the company’s stock in a transaction that occurred on Friday, November 24th. The shares were sold at an average price of $14.63, for a total value of $837,040.82. Following the completion of the sale, the chief financial officer now directly owns 78,386 shares of the company’s stock, valued at approximately $1,146,787.18. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 1.52% of the company’s stock.

Institutional Trading of Macy’s

A number of hedge funds have recently bought and sold shares of the stock. Raymond James Financial Services Advisors Inc. lifted its holdings in shares of Macy’s by 7.2% during the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 44,210 shares of the company’s stock worth $1,077,000 after acquiring an additional 2,981 shares during the period. US Bancorp DE lifted its holdings in shares of Macy’s by 7.2% during the 1st quarter. US Bancorp DE now owns 18,576 shares of the company’s stock worth $452,000 after acquiring an additional 1,244 shares during the period. Natixis Advisors L.P. lifted its holdings in shares of Macy’s by 34.4% during the 1st quarter. Natixis Advisors L.P. now owns 28,563 shares of the company’s stock worth $696,000 after acquiring an additional 7,317 shares during the period. APG Asset Management N.V. bought a new position in shares of Macy’s during the 1st quarter worth about $1,482,000. Finally, Great West Life Assurance Co. Can lifted its holdings in shares of Macy’s by 13.9% during the 1st quarter. Great West Life Assurance Co. Can now owns 219,731 shares of the company’s stock worth $5,550,000 after acquiring an additional 26,827 shares during the period. 82.69% of the stock is owned by institutional investors.

Macy’s Stock Performance

Shares of NYSE M traded up $0.09 during trading hours on Friday, hitting $19.71. 13,272,088 shares of the stock were exchanged, compared to its average volume of 11,795,108. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.18 and a quick ratio of 0.17. The company’s 50 day moving average is $13.77 and its 200 day moving average is $14.08. The firm has a market capitalization of $5.40 billion, a P/E ratio of 8.01, a P/E/G ratio of 0.54 and a beta of 1.97. Macy’s has a one year low of $10.54 and a one year high of $25.12.

Macy’s (NYSE:M – Get Free Report) last posted its quarterly earnings data on Thursday, November 16th. The company reported $0.21 earnings per share (EPS) for the quarter. The business had revenue of $4.86 billion during the quarter, compared to the consensus estimate of $4.78 billion. Macy’s had a net margin of 2.92% and a return on equity of 19.53%. Macy’s’s quarterly revenue was down 7.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.52 EPS. On average, research analysts expect that Macy’s will post 3.01 EPS for the current year.

Macy’s Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 2nd. Shareholders of record on Friday, December 15th will be issued a $0.1654 dividend. This represents a $0.66 dividend on an annualized basis and a yield of 3.36%. The ex-dividend date of this dividend is Thursday, December 14th. Macy’s’s dividend payout ratio (DPR) is presently 26.83%.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on M. Citigroup downgraded shares of Macy’s from a “neutral” rating to a “sell” rating and set a $14.00 price target for the company. in a research report on Tuesday. The Goldman Sachs Group reduced their price target on shares of Macy’s from $23.00 to $17.00 and set a “buy” rating for the company in a research report on Wednesday, August 23rd. Bank of America reduced their price target on shares of Macy’s from $13.00 to $12.00 and set an “underperform” rating for the company in a research report on Wednesday, August 23rd. UBS Group reduced their price target on shares of Macy’s from $12.00 to $10.00 and set a “sell” rating for the company in a research report on Wednesday, August 23rd. Finally, JPMorgan Chase & Co. upped their price target on shares of Macy’s from $16.00 to $19.00 and gave the company an “overweight” rating in a research report on Friday, November 17th. Four equities research analysts have rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $15.09.

Read Our Latest Analysis on M

About Macy’s (Get Free Report)

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.

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Original: MarketBeat News Feed: Macy’s, Inc. (NYSE:M) Short Interest Update