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Are Investors Interested In Selling Their Holdings Of Macy’s Inc. (NYSE: M)?

Macy’s Inc. (NYSE:M) traded at $23.23 at last check on Tuesday, November 22, made an upward move of 2.43% on its previous day’s price.

Looking at the stock we see that its previous close was $22.68 and the beta (5Y monthly) reads 1.68 with the day’s price range being $21.84 – $22.73. The company has a trailing 12-month PE ratio of 4.73. In terms of its 52-week price range, M has a high of $35.85 and a low of $15.10. The company’s stock has gained about 16.55% over that past 30 days.

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Macy’s Inc. has a market cap of $6.27 billion and is expected to release its quarterly earnings report on Feb 20, 2023 – Feb 24, 2023. With its Forward Dividend at 0.63 and a yield of 2.78%, the company’s investors could be anxious for the M stock to gain ahead of the earnings release. Estimates by analysts give the company expected earnings per share (EPS) of $0.19, with the EPS growth for the year raised at $4.1 for 2023 and $4 for next year. These figures represent -22.80% and -2.40% growth in EPS for the two years respectively.

Analysts tracking the company’s growth have also given it a consensus growth in revenue estimated at $5.2 billion, with a low of $5.18 billion and a high of $5.23 billion. According to analyst consensus estimates figures, the company’s yearly revenue forecast for 2023 is expected to hit $24.48 billion, or 0.10% up from figures reported last year.

There have been no upward and no downward revisions for the stock’s EPS in last 7 days, something that reflects the nature of company’s price movement in short term. On the other hand, looking at the outlook for the M stock, short term indicators assign the stock an average of 50% Buy, while medium term indicators assign it an average of Hold. Long term indicators on average place the stock in the category of 50% Buy.

Based on estimates by 17 analysts, where scores have ranged from 1.00 for a strong buy to 5.00 for a strong sell, 9 have rated the Macy’s Inc. (M) stock as a Hold, while 3 rate it as a Buy. 2 analyst(s) rate it as overweight while 1 of them rated it as underweight, whereas 2 suggest the stock as a Sell. The stock has an overall rating of Hold and investors could take advantage and scoop up stock of the company.

Looking further, we note the current price level is 12.67% off its SMA20 and 25.22% from its 50-day simple moving average. The RSI (14) is pointing at 65.36 while the volatility over the past week is 5.67% and jumps to 4.79% over the past one month. The beta value is 1.75, while the average true range (ATR) is currently pointing at 1.19. The average price target for the stock over the next 12 months is $23.61, with the estimates having a low of $14.00 and a high of $30.00. These price ends are 39.73% and -29.14% off the today’s price level respectively, although investors could be excited at the prospect of a -7.62% if the M share price touches on the median price of $25.00.

Let’s briefly compare Macy’s Inc. (M) stock to its peers. We find that today’s price change of 2.43% and -34.66% over the past 12 months for M competes that of Dillard’s Inc. (DDS), which has seen its stock price rise 0.95% in the latest trading session and is 5.08% over the last one year. Another of its peers The TJX Companies Inc. (TJX) has dropped -0.18% today, and was 11.24% up over the past year, while Nordstrom Inc. (JWN) is also up 3.86% yet, while its price remains in the red at -35.03% over the same period. Macy’s Inc. has a P/E ratio of 4.73 compared to Dillard’s Inc.’s 7.19 and The TJX Companies Inc.’s 27.55. In contrast to these companies, both the S&P 500 Index and the Dow Jones Industrial are today at 0.72% and 0.82%, respectively, in early deals.

Coming back to Macy’s Inc. (NYSE:M), we note that the average 3-month trading volume was 11.96 million, while that of the preceding 10-day period stands at 15.88 million. Current shares outstanding are 271.10 million.

The insiders hold 0.30% of the company’s shares while institutions hold 83.60%. The data shows that short shares as of Oct 13, 2022, stood at 22.41 million at a short ratio of 2.06. This represents a 8.27% short interest in shares outstanding on Oct 13, 2022. Shares short rose in October from the previous month at 21.83 million. Investors should be excited about this stock as its upside potential is great, with today’s price pushing the stock -13.37% down in year-to-date price movement.

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