Macy's Stock (NYSE:M), Trade Ideas

Macy's

Founded in 1858 and based in New York City, Macy's operates about 500 stores under the Macy's nameplate, nearly 60 stores under the Bloomingdale's (full-price and outlet) and Bloomie's nameplates, and 159 freestanding Bluemercury specialty beauty stores. Macy's also operates e-commerce sites and licenses Bloomingdale's stores in the United Arab Emirates and Kuwait. Women's apparel, accessories, shoes, cosmetics, and fragrances composed 62% of Macy's 2023 sales.

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Nordstrom initiates strategic review with an independent committee, responding to CEO Erik Nordstrom and President Pete Nordstrom&#39;s interest in privatization. Amid challenges in the retail sector, including inflation concerns, Nordstrom embraces external proposals to maximize shareholder value.

Nordstrom Considers Go-Private Proposal Amid Retail Sector Struggles

Indianapolis,-,Circa,February,2016:,Macys,Department,Store.,Macy's,,Inc.

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Proxy fight settled, but Macy&#39;s future uncertain amid ongoing strategic talks and acquisition bids.

Proxy Fight Concludes, Yet Macy&#39;s Future Remains In The Balance: Report

Trading Ideas

Norfolk Southern (NYSE: NSC) heads toward its May 9 annual meeting and the resolution of its battle with activist shareholder Ancora over control of the company with a public campaign that may have taken a hit Tuesday, judging from a preview of the railroad&#39;s first-quarter numbers.

In an

Preliminary Q1 Results at Embattled Norfolk Southern Miss Expectations

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<p><strong>Macy's's</strong> (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/M#NYSE">M</a>) short percent of float has fallen 10.47% since its last report. The company recently reported that it has <strong>16.65 million shares sold short</strong>, which is 6.84% of all regular shares that are available for trading. Based on its trading volume, <strong>it would take traders 2.31 days to cover their short positions on average.</strong></p>
<h3>Why Short Interest Matters</h3>
<p>Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock/">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.</p>
<p>Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.</p>
<p><strong>See Also:</strong> <a href="https://www.benzinga.com/short-interest"><strong>List of the most shorted stocks</strong></a></p>
<h3>Macy's Short Interest Graph (3 Months)</h3>
<p><img src="https://www.benzinga.com/files/images/story/2024/1714054523_0.png" alt="short_fig" /></p>
<p>As you can see from the chart above the percentage of shares that are sold short for Macy's has declined since its last report. This does not mean that the stock is going to rise in the near-term but traders should be aware that less shares are being shorted.</p>
<h3>Comparing Macy's's Short Interest Against Its Peers</h3>
<p>Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.</p>
<p>According to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, Macy's's peer group average for short interest as a percentage of float is 9.07%, which means the company has <strong>less</strong> short interest than most of its peers.</p>
<p>Did you know that increasing short interest can actually be <strong>bullish</strong> for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze/"><strong>This post by Benzinga Money explains how you can profit from it.</strong></a></p>
<p><em>This article was generated by Benzinga's automated content engine and was reviewed by an editor.</em></p>


Short Sellers

Short Ideas

(M) - Analyzing Macy's's Short Interest

<p><strong>Nordstrom Inc&nbsp;</strong>(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JWN#NYSE">JWN</a>) said its Board of Directors had formed a special committee of independent directors to explore a range of strategic,&nbsp;<a target="_blank" href="https://www.benzinga.com/pressreleases/24/04/n38323727/nordstrom-forms-special-committee-of-independent-directors-in-response-to-erik-and-pete-nordstrom-" rel="noreferrer noopener">financial&nbsp;and&nbsp;operational alternatives</a>.</p>
<p>The move comes after CEO Erik Nordstrom and President Pete Nordstrom notified the Board of their interest in pursuing a potential transaction to take the company private.</p>
<p>The special committee will carefully evaluate any&nbsp;proposal&nbsp;from Erik and Pete Nordstrom and&nbsp;any proposals from&nbsp;other parties to see if they are in the best interests of Nordstrom and all shareholders.</p>
<p>This move by Erik<strong>&nbsp;</strong>and Pete aligns with&nbsp;the challenges facing U.S. department stores&nbsp;amid inflation and borrowing concerns, reported Reuters.</p>
<p>The&nbsp;formation of the committee&nbsp;signals the company&#8217;s openness to evaluate external proposals as well.</p>
<p>The company&#8217;s market capitalization stands at approximately $3.06 billion, as per LSEG data.</p>
<p>The founding family&#8217;s interest in taking Nordstrom private was initially reported in March, marking a renewed effort after an unsuccessful attempt in 2018. The company rejected a bid valued at $8.4 billion, citing undervaluation. Challenges in securing debt financing and disagreement over the price contributed to the breakdown in negotiations.</p>
<p>The family, collectively owning around 30% of outstanding shares, underscores their significant influence in the company&#8217;s decision-making process.</p>
<p>Rival&nbsp;<strong>Macy&#8217;s Inc</strong>&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/M#NYSE">M</a>) has also received privatization offers from investors&nbsp;<a target="_blank" href="https://www.benzinga.com/markets/equities/24/03/37449882/why-is-department-store-chain-macys-stock-surging-today" rel="noreferrer noopener">Arkhouse Management Co. LP and Brigade Capital Management, LP</a>&nbsp;in recent months, indicating a broader trend within the retail sector.</p>
<p><strong>Price Action</strong>: JWN shares are trading higher by 0.16% at $18.76 in premarket on&nbsp;the last check Friday.</p>
<p><strong><em>Disclaimer</em></strong><em>: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.</em></p>
<p><em>Photo via Shutterstock</em></p>


<p><strong>Macy&#8217;s Inc</strong> (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/M#NYSE">M</a>) CEO Tony Spring faces a race against time to <a href="https://www.benzinga.com/markets/equities/24/03/37843172/macys-opens-financial-records-to-arkhouse-brigade-report" target="_blank" rel="noreferrer noopener">reverse the company&#8217;s fortunes</a>.</p>
<p>Two new members will join the CEO on the department store retailer&#8217;s board amid its deliberations over whether to back his vision or sell to activist investors, <a href="https://www.cnbc.com/2024/04/13/macys-arkhouse-take-private-fight-continues-after-proxy-settlement.html" target="_blank" rel="noreferrer noopener">reported</a> CNBC. </p>
<p>The recent board appointments mark the resolution of a proxy battle with activist Arkhouse Management.&nbsp;</p>
<p>This follows ongoing attempts by Arkhouse and Brigade Capital Management to acquire the struggling American department store retailer, the report read.</p>
<p>In December, Arkhouse initiated a bid to purchase Macy&#8217;s at $21 per share, aiming to privatize the company.&nbsp;</p>
<p>Despite being rejected, Arkhouse escalated its actions by proposing nine nominees to Macy&#8217;s 15-member board and increasing its acquisition bid, CNBC added.</p>
<p>&#8220;The Macy&#8217;s, Inc. Board is continuing to engage with Arkhouse and Brigade regarding their proposal to acquire the Company,&#8221; the company said in a&nbsp;<a target="_blank" href="https://www.benzinga.com/pressreleases/24/04/b38181158/macys-inc-appoints-richard-clark-and-richard-l-markee-to-board-of-directors" rel="noreferrer noopener">statement</a>.</p>
<p>&#8220;The Board is open-minded about the best path to create shareholder value and is committed to continuing to take actions that it believes are in the best interests of the Company and all Macy&#8217;s, Inc. shareholders,&#8221; the company added.</p>
<p>The recent settlement for Macy&#8217;s — an agreement to appoint two of Arkhouse&#8217;s nine nominees to its board — may alleviate the company&#8217;s burden and expenses of an extended campaign to garner support from shareholders. </p>
<p>The move, however, could also mean a step closer to ownership for Arkhouse and Brigade, whose focus on real estate and not retail has raised concerns about the future of Macy&#8217;s. </p>
<p>While both Macy&#8217;s and Arkhouse conveyed conciliatory messages, the battle for Macy&#8217;s persists, CNBC added.</p>
<p>Arkhouse and Brigade&#8217;s buyout bid could completely alter the retailer&#8217;s trajectory. They reportedly initiated due diligence to examine the department store operator&#8217;s finances and liabilities closely.</p>
<p><strong>Price Action:</strong>&nbsp;M shares closed lower by 3.16% to $19.30 on Friday.&nbsp;</p>
<p><em>This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors</em>.</p>
<p><strong><em>Read Next: </em></strong><a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38225558/microsofts-potential-in-gaming-business-unveiled-analyst-sees-durable-growth" target="_blank" rel="noreferrer noopener"><em>Microsoft's Potential In Gaming Business Unveiled, Analyst Sees Durable Growth</em></a></p>
<p><em>Photo: Shutterstock</em></p>


Proxy Fight Concludes, Yet Macy's Future Remains In The Balance: Report

<div><strong>Norfolk Southern</strong> (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/nsc#NYSE">NSC</a>) heads toward its May 9 annual meeting and the resolution of its battle with activist shareholder Ancora over control of the company with a public campaign that may have taken a hit Tuesday, judging from a preview of the railroad's first-quarter numbers.</div>

<p>In an outlook for Q1 earnings, which are to be released April 24, Norfolk Southern said adjusted earnings would come in at $2.49 a share and adjusted operating ratio would be 69.9%.</p>

<p>Those numbers are both below Wall Street consensus on how the railroad, which serves the Eastern half of the U.S., performed in the quarter. The report initially pushed Norfolk Southern stock down before a later rebound.</p>

<p>According to SeekingAlpha, the consensus forecast for adjusted EPS was $2.59 a share, 10 cents more than Norfolk Southern said it made in the quarter. The adjusted OR was expected to be 69%, according to consensus, 90 basis points better than what Norfolk Southern now says it will report.<br /><script type="text/javascript">
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<p>The nonadjusted numbers are far different from the adjusted figures, primarily as a result of the company's $600 million settlement over the East Palestine, Ohio, derailment and chemical spill last year. Those GAAP results, which take into account charges connected to East Palestine as well as other charges, take the OR up to 92.9% and diluted earnings per share to 23 cents a share.</p>

<h2 id="h-sitting-down-with-wolfe-research">Sitting down with Wolfe Research</h2>

<p>As part of its campaign against the Ancora push for new management, which is taking place now through proxy voting, Norfolk Southern management has been making numerous public appearances. On Wednesday, an online interview with transportation analyst Scott Group of Wolfe Research had embattled CEO Alan Shaw saying the Tuesday report wasn't all that bad. </p>

<p>"We had said that first-quarter OR was going to be 100 to 200 basis points deterioration from the fourth quarter, and it's up 110 basis points with normal seasonality" Shaw said. "But we're encouraged by the fact that OR improved throughout the quarter each and every month and really positions us well to deliver that 400-to-500-basis-point improvement in the second half of the year."</p>

<p>But Amit Mehrotra, the head of the transportation research group at <strong>Deutsche Bank</strong> (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/db#NYSE">DB</a>), described the railroad's preliminary numbers as "very difficult" in his daily transportation email update.</p>

<div>
<h1>Settlement before May 9?</h1>

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<p>Mehrotra, who will host an online session with Shaw and other NS executives next week, added that the outcome of the proxy battle will not necessarily stretch until the May 9 annual meeting. Before that, Mehrotra said, there likely will be "significant visibility" on which way the vote is going. "So, it's very possible for there to be a settlement in early May, in our view, if the results are overwhelmingly one sided" he said.</p>

<p>"The bottom line is change is coming to NSC one way or another, in our view" Mehrotra wrote. "Either with current management that will remain under pressure until tangible progress is achieved, or with new management and a new board that will likely adjust and accelerate the profit improvement plan."</p>

<p>Ancora recently boasted that its effort to replace existing management got the backing of asset manager Neuberger Berman. </p>

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<p>Shaw, in the interview with Group, of Wolfe Research, said there have been negotiations between the Norfolk Southern board and representatives from Ancora. He said part of the offer Norfolk Southern has made is to have "some" of what the railroad considers "their better candidates" become members of the Norfolk Southern board.</p>

<p>"The response from the activists has been unreasonable" Shaw said. "They're looking for wholesale change. And that's not something that the board feels is the right approach for our shareholders going forward."</p>

<p>But he added that the company is open to a settlement.</p>

<p>(Settlements between company management and activist investors often end a proxy battle. That occurred Tuesday in a battle over control over <strong>Macy's</strong> (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/m#NYSE">M</a>).</p>

<p>The Norfolk Southern statement of its projected first-quarter earnings reviewed the company's operations during the three months. Among the highlights: Volume was up 4%, but revenues were down 4% because of headwinds from lower fuel surcharges and "the continuation of adverse mix" a euphemism for the type of cargo the company is hauling being less profitable than might be seen at other times.<br /><script type="text/javascript">
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<p>But NS also said the company had record revenue less fuel in its merchandise markets.</p>

<p>The report was not so dire as to change any Wall Street analyst ratings on Norfolk Southern stock. Wire services reported that the current outlook for the railroad was held steady by RBC Capital and Susquehanna even after the preliminary numbers were released.</p>

<h2 id="h-orr-hiring-attacked-by-ancora">Orr hiring attacked by Ancora</h2>

<p>Ancora also released a letter to shareholders last week, which criticized the hiring of rail veteran John Orr as COO.</p>

<p>The letter held back little. Ancora criticized Norfolk Southern for not interviewing its candidate for COO, former CSX executive Jamie Boychuk. It also said Orr was hired primarily because of his ties to Claude Mongeau, a Norfolk Southern director and a former CEO of Canadian National, where Orr had worked before he was at Canadian Pacific, now known as Canadian Pacific Kansas City (CPKS) after its merger with Kansas City Southern. </p>

<p>Norfolk Southern said when it announced Orr's hiring on March 20 that it had paid $25 million to <strong>CPKS</strong> (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/cp#NYSE">CP</a>) for the right to hire Orr. But the Ancora letter questions that figure, saying an analysis of what CPKC said about the deal and its impact on earnings suggests a figure that is far higher in total value.</p>

<p>Boychuk's Ancora-backed candidacy for COO at Norfolk Southern runs alongside the candidacy of former UPS executive Jim Barber Jr. to replace Shaw if he is pushed out. Ancora also has nominated eight directors.</p>

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<p>The letter also brought up accusations from Orr's past that he was abusive to employees, with plenty of redacted adjectives he allegedly used to describe employees. The letter leveled charges of racism and sexual harassment.</p>

<p>Former Orr colleagues interviewed by Ancora representatives "indicated that they would provide sworn affidavits regarding Mr. Orr's conduct" the activist shareholder group said. "We do not understand how the Board and Mr. Shaw have decided to bet the Company's future on Mr. Orr."</p>

<p>The issues raised by Ancora did not come up in the interview with Wolfe Research. </p>

<p>The post <a href="https://www.freightwaves.com/news/preliminary-q1-results-at-embattled-norfolk-southern-miss-expectations">Preliminary Q1 results at embattled Norfolk Southern miss expectations</a> appeared first on <a href="https://www.freightwaves.com">FreightWaves</a>.</p>

<p>"Ric Clark and Rick Markee bring tremendous dealmaking experience to Macy's Board and will be instrumental in maximizing value for shareholders. As a result of our efforts, our buyer group has begun receiving due diligence to progress discussions toward a potential transaction to acquire the Company. The appointment of Clark and Markee to the Board and the Finance Committee, which is tasked with reviewing our proposal and any alternative transactions, will ensure that our discussions continue to be constructive and that our proposal is treated seriously and expeditiously. We appreciate the Board's engagement and look forward to working with them to unlock shareholder value."</p>


Arkhouse Issues Statement On Macy's Settlement

<p><i>Arkhouse Terminates Proxy Contest as Two of its Nominees Added to Board and Finance Committee</i></p>
<p><i>Company Implements Previously Announced Board Changes as Tony Spring Assumes Chairman Role and Douglas W. Sesler Joins Board</i></p>
<p><i>Company Continues Engagement with Arkhouse and Brigade Regarding their Proposal</i></p>
<p>Macy's, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/M#NYSE">M</a>) today announced the appointment of two new independent directors, Richard (Ric) Clark and Richard (Rick) L. Markee, to its Board of Directors (the "Board"), effective immediately. The appointments of Clark and Markee follow the Board's engagement with Arkhouse Management Co. LP ("Arkhouse"), resulting in the withdrawal of its director nominations.</p>
<p>The Company is also implementing previously announced changes to its Board, effective immediately. Tony Spring, chief executive officer and chairman-elect of Macy's, Inc., has assumed the chairman role. In addition, Douglas (Doug) W. Sesler, whose nomination to stand for election to the Board at the 2024 annual meeting of shareholders was announced on March 14, 2024, has been appointed as an independent director. These changes follow the planned retirements of Jeff Gennette and Frank Blake from the Macy's, Inc. Board.</p>
<p>"We are pleased to welcome Ric and Rick to the Board as we advance our efforts to deliver value for shareholders," said Tony Spring, chairman and chief executive officer of Macy's, Inc. "Ric and Rick bring leadership experience as well as valuable real estate and retail industry expertise, respectively, that is complementary to that of our other Board members. We are confident the Company will benefit from their additional perspectives in addition to those of Doug who also joins our Board today. I look forward to working with all my fellow directors as I step into the role of chairman. At the same time, I want to extend the Board's appreciation for Jeff's and Frank's many valuable contributions throughout their years of service. We wish them all the best."</p>
<p>"The Macy's, Inc. Board is committed to acting in the best interests of all Macy's, Inc. shareholders, and the composition of our Board is something we take seriously," said Paul Varga, lead independent director of Macy's, Inc. "We are thrilled to have Tony serving as chairman moving forward, which completes our previously announced company and Board leadership succession plan. Further, adding Ric and Rick, along with Doug, our other recently announced new director, to the Board will provide us with a valuable mix of expertise as we continue to oversee the Company's strategic direction."</p>
<p>In connection with the Clark and Markee appointments, the Company has entered into an agreement with Arkhouse and its affiliates that provides for the withdrawal of Arkhouse's director nominations, among other customary provisions. Clark and Markee will join the Board's Finance Committee, which in addition to its existing responsibilities, will oversee the evaluation of and make recommendations to the full Board regarding the acquisition proposal submitted by Arkhouse and Brigade Capital Management, LP ("Brigade"). The agreement between the Company and Arkhouse will be filed on a Form 8-K with the Securities and Exchange Commission.</p>
<p>Following today's Board appointments and retirements, the Macy's, Inc. Board comprises 15 directors, 14 of whom are independent.</p>
<p><strong>Update on Previously Disclosed Acquisition Proposal</strong></p>
<p>The Macy's, Inc. Board is continuing to engage with Arkhouse and Brigade regarding their proposal to acquire the Company. As previously disclosed, the Board entered into a confidentially agreement with Arkhouse and Brigade to facilitate their access to confidential due diligence information. The Company has since begun to provide Arkhouse and Brigade with certain confidential due diligence information, and that process remains ongoing.</p>
<p>The Board is open-minded about the best path to create shareholder value and is committed to continuing to take actions that it believes are in the best interests of the Company and all Macy's, Inc. shareholders.</p>


Management

Macy's, Inc. Appoints Richard Clark And Richard L. Markee To Board Of Directors, Arkhouse Terminates Proxy Contest as Two of its Nominees Added to Board and Finance Committee

<p>The performance of the U.S. corporate bond market in the first quarter of the year was generally flat, though there were notable distinctions between the high-grade <a href="https://www.benzinga.com/money/high-yield-bonds">and high-yield sectors. </a></p>
<p>Bonds issued by companies with higher credit ratings (BBB and above) experienced a slight downward trajectory, as showed by the <strong>iShares iBoxx $ Investment Grade Corporate Bond ETF</strong> (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LQD#NYSE">LQD</a>). Conversely, lower-rated companies boasting higher yields showed modestly positive performance, as indicated by the <strong>iShares iBoxx $ High Yield Corporate Bond ETF</strong> (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HYG#NYSE">HYG</a>).</p>
<p>Also Read: <a href="https://www.benzinga.com/news/large-cap/24/04/38098774/top-10-us-high-yield-corporate-bonds-with-returns-over-20-in-april-2024">Top 10 US High-Yield Corporate Bonds With Returns Over 20% In April 2024</a></p>
<p>Below is a list of U.S. corporate bonds that have exhibited the strongest performance in the last three months.</p>
<h3 class="wp-block-heading"><strong>10) Macy&#8217;s Retail Holdings LLC 4.3% 12/43</strong></h3>
<ul>
<li>Issuer: <strong>Macy&#8217;s Inc</strong>. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/M#NYSE">M</a>)</li>
<li>ISIN: US55616XAJ63</li>
<li>Last price: $82.08</li>
<li>Yield to maturity (%): 5.9712</li>
<li>Maturity: 15/02/2043</li>
<li>Minimum investment amount: $2,000</li>
<li>3-month performance: 15.83%</li>
</ul>
<h3 class="wp-block-heading">9) Ally Financial Inc. 4.7%</h3>
<ul>
<li>Issuer: <strong>Ally Financial Inc</strong>. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALLY#NYSE">ALLY</a>)</li>
<li>ISIN: US02005NBN93</li>
<li>Last price: $78.174</li>
<li>Type: subordinated</li>
<li>Minimum investment amount: $1,000</li>
<li>3-month performance: 16.91%</li>
</ul>
<h3 class="wp-block-heading">8) Lincoln National Corp. 7.938% 06/66</h3>
<ul>
<li>Issuer: <strong>Lincoln National Corp</strong>. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LNC#NYSE">LNC</a>)</li>
<li>ISIN: US534187AS84</li>
<li>Last price: $74.73</li>
<li>Maturity: 17/05/2066</li>
<li>Minimum investment amount: $2,000</li>
<li>3-month performance: 17.87%</li>
</ul>
<h3 class="wp-block-heading">7) Carvana Co. 5.875% 20/28</h3>
<ul>
<li>Issuer: <strong>Carvana Co</strong>. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVNA#NYSE">CVNA</a>)</li>
<li>ISIN: USU1468GAD61</li>
<li>Last price: $65.00</li>
<li>Yield to maturity (%): 18.1963</li>
<li>Maturity: 01/10/2028</li>
<li>Minimum investment amount: $2,000</li>
<li>3-month performance: 20.37%</li>
</ul>
<h3 class="wp-block-heading">6) Braskem America Finance Co. 7.125% 11/41</h3>
<ul>
<li>Issuer: <strong>Braskem S.A.</strong> (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BAK#NYSE">BAK</a>)</li>
<li>ISIN: USU1065PAA94</li>
<li>Last price: $90.85</li>
<li>Yield to maturity (%): 8.2834</li>
<li>Maturity: 15/02/2043</li>
<li>Minimum investment amount: $200,000</li>
<li>3-month performance: 20.5%</li>
</ul>
<h3 class="wp-block-heading">5) M.D.C. Holdings Inc. 3.966% 21/61</h3>
<ul>
<li>Issuer: <strong>M.D.C. Holdings Inc. </strong>(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MDC#NYSE">MDC</a>)</li>
<li>ISIN: US55616XAJ63</li>
<li>Last price: $82.08</li>
<li>Yield to maturity (%): 5.9712</li>
<li>Maturity: 15/02/2043</li>
<li>Minimum investment amount: $2,000</li>
<li>3-month performance: 23.53%</li>
</ul>
<h3 class="wp-block-heading">4) QVC Inc. 5.95% 13/43</h3>
<ul>
<li>Issuer: <strong>QVC Inc.</strong></li>
<li>ISIN: US747262AM52</li>
<li>Last price: $64.53</li>
<li>Yield to maturity (%): 10.4849</li>
<li>Maturity: 15/03/2043</li>
<li>Minimum investment amount: $1,000</li>
<li>3-month performance: 23.76%</li>
</ul>
<h3 class="wp-block-heading">3) At Home Group Inc. 4.875% 21/28</h3>
<ul>
<li>Issuer: <strong>At Home Group Inc.</strong></li>
<li>ISIN: USU04798AA90</li>
<li>Last price: $47.61</li>
<li>Yield to maturity (%): 27.4573</li>
<li>Maturity: 15/07/2028</li>
<li>Minimum investment amount: $2,000</li>
<li>3-month performance: 26.38%</li>
</ul>
<h3 class="wp-block-heading">2) Lumen Technologies Inc. 4.5% 20/29</h3>
<ul>
<li>Issuer: <strong>Lumen Technologies Inc</strong>. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LUMN#NYSE">LUMN</a>)</li>
<li>ISIN: USU1566PAD79</li>
<li>Last price: $36.32</li>
<li>Yield to maturity (%): 33.1453</li>
<li>Maturity: 15/01/2029</li>
<li>Minimum investment amount: $2,000</li>
<li>3-month performance: 27.01%</li>
</ul>
<h2 class="wp-block-heading">Chart: Lumen Technologies Bond Outperforms Lumen Shares In 2024</h2>
<p><figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="495" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/04113118/image-8-1024x495.png" alt="" class="wp-image-277973" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/04113118/image-8-1024x495.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/04113118/image-8-300x145.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/04113118/image-8-768x372.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/04113118/image-8-1536x743.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/04113118/image-8.png 1920w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure></p>
<h3 class="wp-block-heading">1) Beyond Meat Inc. 0.000% 21/27</h3>
<ul>
<li>Issuer: <strong>Beyond Meat Inc.</strong> (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BYND#NASDAQ">BYND</a>)</li>
<li>ISIN: US08862EAB56</li>
<li>Last price: $23.87</li>
<li>Maturity: 15/03/2027</li>
<li>Minimum investment amount: $1,000</li>
<li>3-month performance: 28.08%</li>
</ul>
<h2 class="wp-block-heading">Chart: Beyond Meat Bonds Outperform Shares In 2024</h2>
<p><figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="495" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/04113716/image-9-1024x495.png" alt="" class="wp-image-277986" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/04113716/image-9-1024x495.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/04113716/image-9-300x145.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/04113716/image-9-768x372.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/04113716/image-9-1536x743.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/04113716/image-9.png 1920w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure></p>
<h2 class="wp-block-heading"><strong>Why Have Beyond Meat Bonds Outperformed Shares?</strong></h2>
<p>Beyond Meat reported higher than expected revenue in the fourth quarter of 2023, yet suffered larger losses than anticipated. Following the earnings announcement, the company committed to significantly cutting costs and enhancing manufacturing efficiency. </p>
<p>These efforts improved the outlook on the company&#8217;s ability to fulfill its debt obligations, boosting investor confidence in Beyond Meat&#8217;s survival prospects, rather than reflecting a true turnaround in its long-term profitability.</p>
<p>Following its earnings report, Beyond Meat saw an initial market enthusiasm with rises in both bonds and shares. However, while bond values maintained their upward trajectory, the stock&#8217;s gains quickly dissipated, reversing the post-earnings uplift. </p>
<p>Since the beginning of the year, Beyond Meat&#8217;s zero-coupon bond, due to mature in March 2027, has seen a notable increase of 28%, contrasting with a roughly 6% drop in the company&#8217;s share price.</p>
<p>Read now: <em><a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38091433/ai-revolution-is-underway-yet-its-economic-impact-is-several-years-off-goldman-sach">AI Revolution Is Underway, Yet Its Economic Impact Is &#8216;Several Years Off&#8217;: Goldman Sachs</a></em></p>
<p><em>Image generated using artificial intelligence via Midjourney.</em></p>


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Top 10 US Corporate Bonds By Market Performance In 2024: April Update

<p>With its latest quarter results, Levi Strauss &amp; Co (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/levi#NYSE">LEVI</a>) showed long gone are the days the jeans retailer depended on&nbsp;wholesalers like&nbsp;Macy&rsquo;s Inc (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/m#NYSE">M</a>)&nbsp;and&nbsp;Kohl&rsquo;s Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/kss#NYSE">KSS</a>)&nbsp;to drive its business. Now, almost half of Levi&rsquo;s sales are done through its own website and stores.&nbsp;</p>
<p>Fiscal first quarter results</p>
<p>For the quarter ended on February 25th, direct-to-consumer sales accounted for a record 48% of total sales, rising from last year&rsquo;s comparable quarter when they made 42%.&nbsp;</p>
<p>However, total sales did fall about 8% YoY to&nbsp;$1.56 billion&nbsp;due to shift away from wholesalers, but still topping LSEG&rsquo;s estimate of $1.55 billion.</p>
<p>While Levi made an income during last year&rsquo;s comparable quarter, this time, it swung to a net loss of $10.6 million, or 3 cents per share. But adjusted earnings that exclude one-time restructuring costs amounted to 26 cents per share, also surpassing LSEG&rsquo;s estimate of 21 cents.</p>
<p>A lifted full-year guidance despite an unfavorable macroeconomic backdrop</p>
<p>Despite the macroeconomic uncertainty and discretionary spending slowdown, Levi&rsquo;s reaffirmed its guidance for full-year sales growth in the range between 1% and 3%. Moreover, it lifted its profit guidance as it now expects&nbsp;adjusted earnings per share in the range between $1.17 and $1.27.&nbsp;Back in January, Levi&rsquo;s announced it plans to save about $100 million during the fiscal year by trimming its workforce by 10% to 15%.</p>
<p>Moving the focus away from wholesalers to DTC channels&nbsp;paid off.</p>
<p>Levi&rsquo;s strategic decision to focus on its own digital and physical sales channels boosted its profits and allowed the company to get to know its consumers better, as well as their shopping patterns. One might also wonder how will Levi&rsquo;s success weigh on wholesale partners and retailers like Macy&rsquo;s and Kohl&rsquo;s that are struggling with their own existential crisis. But Levi took more control of its own destiny as department stores like Macy&rsquo;s continue to shrink and fear for their survival. In February, Macy&rsquo;s announced the closure of 150 stores. Although such closures would undoubtedly impact Levi,&nbsp;CEO Michelle Gass&nbsp;expects the DTC sales to offset this loss.</p>
<p>Denim does not go out of style.</p>
<p>Fortunately for Levi, denim is still in style, even at times when consumer spending for discretionary items like clothing has been under pressure. During the quarter, sales of denim skirts, dresses and tops rose 19% in its DTC channel, while also performing well in wholesale. It also owes a special thank you to the culture shaper queen, Beyonc&eacute;, for naming a song after the brand, allowing Levi&rsquo;s to still enjoy being part of the conversation.&nbsp;</p>
<p><em>DISCLAIMER: This content is for informational purposes only. It is not intended as investing advice.</em></p>
<p class="contributor-disclaimer"><em>This article is from an unpaid external contributor. It does not represent Benzinga's reporting and has not been edited for content or accuracy.</em></p>


LEVI

Levi Proves Once Again That Denim Does Not Go Out Of Style

<p>Financial giants have made a conspicuous bearish move on Macy's. Our analysis of options history for Macy's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/M#NYSE">M</a>) revealed 9 unusual trades.</p>
<p>Delving into the details, we found 11% of traders were bullish, while 88% showed bearish tendencies. Out of all the trades we spotted, 7 were puts, with a value of $863,700, and 2 were calls, valued at $171,090.</p>
<h3>Predicted Price Range</h3>
<p>Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $15.0 to $22.0 for Macy's during the past quarter. </p>
<h3>Volume &amp; Open Interest Trends</h3>
<p>In terms of liquidity and interest, the mean open interest for Macy's options trades today is 5572.2 with a total volume of 10,230.00.</p>
<p>In the following chart, we are able to follow the development of volume and open interest of call and put options for Macy's's big money trades within a strike price range of $15.0 to $22.0 over the last 30 days.</p>
<h3>Macy's Call and Put Volume: 30-Day Overview</h3>
<p><img src="https://www.benzinga.com/files/images/story/2024/1712171755_0.png" alt="Options Call Chart" /></p>
<h3>Noteworthy Options Activity:</h3>
<p>
<table>
<thead>
<tr>
<th><strong>Symbol</strong></th>
<th><strong>PUT/CALL</strong></th>
<th><strong>Trade Type</strong></th>
<th><strong>Sentiment</strong></th>
<th><strong>Exp. Date</strong></th>
<th><strong>Ask</strong></th>
<th><strong>Bid</strong></th>
<th><strong>Price</strong></th>
<th><strong>Strike Price</strong></th>
<th><strong>Total Trade Price</strong></th>
<th><strong>Open Interest</strong></th>
<th><strong>Volume</strong></th>
</tr>
</thead>
<tbody>
<tr>
<td>M</td>
<td>PUT</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>01/17/25</td>
<td>$1.17</td>
<td>$1.02</td>
<td>$1.07</td>
<td>$15.00</td>
<td>$321.0K</td>
<td>11.2K</td>
<td>3.0K</td>
</tr>
<tr>
<td>M</td>
<td>PUT</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>01/17/25</td>
<td>$1.17</td>
<td>$0.89</td>
<td>$1.07</td>
<td>$15.00</td>
<td>$246.1K</td>
<td>11.2K</td>
<td>4.0K</td>
</tr>
<tr>
<td>M</td>
<td>CALL</td>
<td>TRADE</td>
<td>NEUTRAL</td>
<td>05/17/24</td>
<td>$0.66</td>
<td>$0.55</td>
<td>$0.6</td>
<td>$21.00</td>
<td>$125.6K</td>
<td>12.9K</td>
<td>2.1K</td>
</tr>
<tr>
<td>M</td>
<td>PUT</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>01/17/25</td>
<td>$1.17</td>
<td>$0.65</td>
<td>$1.07</td>
<td>$15.00</td>
<td>$107.0K</td>
<td>11.2K</td>
<td>4.0K</td>
</tr>
<tr>
<td>M</td>
<td>PUT</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>01/17/25</td>
<td>$1.17</td>
<td>$0.86</td>
<td>$1.07</td>
<td>$15.00</td>
<td>$107.0K</td>
<td>11.2K</td>
<td>4.0K</td>
</tr>
</tbody>
</table>
</p>
<h3>About Macy's</h3>
<p>Founded in 1858 and based in New York City, Macy's operates about 550 stores under the Macy's nameplate, nearly 60 stores under the Bloomingdale's (full-price and outlet) and Bloomie's nameplates, and 158 freestanding Bluemercury specialty beauty stores. Macy's also operates e-commerce sites and licenses two Bloomingdale's stores in the United Arab Emirates and Kuwait. Women's apparel, accessories, shoes, cosmetics, and fragrances composed 61% of Macy's 2022 sales.</p>
<p>After a thorough review of the options trading surrounding Macy's, we move to examine the company in more detail. This includes an assessment of its current market status and performance.</p>
<h3>Current Position of Macy's</h3>
<ul>
<li>Trading volume stands at 4,186,505, with M's price up by 0.63%, positioned at $19.18.</li>
<li>RSI indicators show the stock to be is currently neutral between overbought and oversold.</li>
<li>Earnings announcement expected in 57 days.</li>
</ul>
<h3>Expert Opinions on Macy's</h3>
<p>A total of 2 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $23.0.</p>
<ul>
<li>An analyst from JP Morgan persists with their Overweight rating on Macy's, maintaining a target price of $25. </li>
<li>An analyst from Telsey Advisory Group persists with their Market Perform rating on Macy's, maintaining a target price of $21. </li>
</ul>
<p>Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for Macy's with <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a> for real-time alerts.</p>


Options

Unpacking the Latest Options Trading Trends in Macy's

<p>In the last three months, 8 analysts have published ratings on Macy's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/M#NYSE">M</a>), offering a diverse range of perspectives from bullish to bearish.</p>
<p>Summarizing their recent assessments, the table below illustrates the evolving sentiments in the past 30 days and compares them to the preceding months.</p>
<table>
<thead>
<tr>
<th></th>
<th style="text-align: right;"><strong>Bullish</strong></th>
<th style="text-align: right;"><strong>Somewhat Bullish</strong></th>
<th style="text-align: right;"><strong>Indifferent</strong></th>
<th style="text-align: right;"><strong>Somewhat Bearish</strong></th>
<th style="text-align: right;"><strong>Bearish</strong></th>
</tr>
</thead>
<tbody>
<tr>
<td><strong>Total Ratings</strong></td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">6</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td><strong>Last 30D</strong></td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td><strong>1M Ago</strong></td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">3</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td><strong>2M Ago</strong></td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td><strong>3M Ago</strong></td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
</tbody>
</table>
<p>Providing deeper insights, analysts have established 12-month price targets, indicating an average target of $20.25, along with a high estimate of $25.00 and a low estimate of $15.00. Marking an increase of 6.58%, the current average surpasses the previous average price target of $19.00. </p>
<p><img src="https://www.benzinga.com/files/images/story/2024/1711630819_0.png" alt="price target chart" /></p>
<h2>Breaking Down Analyst Ratings: A Detailed Examination</h2>
<p>The standing of Macy's among financial experts becomes clear with a thorough analysis of recent analyst actions. The summary below outlines key analysts, their recent evaluations, and adjustments to ratings and price targets.</p>
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>Dana Telsey</td>
<td>Telsey Advisory Group</td>
<td>Maintains</td>
<td>Market Perform</td>
<td>$21.00</td>
<td>$21.00</td>
</tr>
<tr>
<td>Matthew Boss</td>
<td>JP Morgan</td>
<td>Raises</td>
<td>Overweight</td>
<td>$25.00</td>
<td>$23.00</td>
</tr>
<tr>
<td>Adam Maeder</td>
<td>TD Cowen</td>
<td>Lowers</td>
<td>Market Perform</td>
<td>$20.00</td>
<td>$23.00</td>
</tr>
<tr>
<td>Alexandra Walvis</td>
<td>Morgan Stanley</td>
<td>Lowers</td>
<td>Equal-Weight</td>
<td>$20.00</td>
<td>$21.00</td>
</tr>
<tr>
<td>Brooke Roach</td>
<td>Goldman Sachs</td>
<td>Raises</td>
<td>Buy</td>
<td>$22.00</td>
<td>$16.00</td>
</tr>
<tr>
<td>Dana Telsey</td>
<td>Telsey Advisory Group</td>
<td>Raises</td>
<td>Market Perform</td>
<td>$21.00</td>
<td>$15.00</td>
</tr>
<tr>
<td>Dana Telsey</td>
<td>Telsey Advisory Group</td>
<td>Maintains</td>
<td>Market Perform</td>
<td>$15.00</td>
<td>-</td>
</tr>
<tr>
<td>Paul Lejuez</td>
<td>Citigroup</td>
<td>Raises</td>
<td>Neutral</td>
<td>$18.00</td>
<td>$14.00</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li><strong>Action Taken:</strong> In response to dynamic market conditions and company performance, analysts update their recommendations. Whether they 'Maintain', 'Raise', or 'Lower' their stance, it signifies their reaction to recent developments related to Macy's. This insight gives a snapshot of analysts' perspectives on the current state of the company.</li>
<li><strong>Rating:</strong> Analysts assign qualitative assessments to stocks, ranging from 'Outperform' to 'Underperform'. These ratings convey the analysts' expectations for the relative performance of Macy's compared to the broader market.</li>
<li><strong>Price Targets:</strong> Analysts explore the dynamics of price targets, providing estimates for the future value of Macy's's stock. This examination reveals shifts in analysts' expectations over time.</li>
</ul>
<p>For valuable insights into Macy's's market performance, consider these analyst evaluations alongside crucial financial indicators. Stay well-informed and make prudent decisions using our Ratings Table.</p>
<p><a href="https://www.benzinga.com/quote/M/analyst-ratings?utm_source=Benzinga Insights"><strong>Stay up to date on Macy's analyst ratings.</strong></a></p>
<h2>Unveiling the Story Behind Macy's</h2>
<p>Founded in 1858 and based in New York City, Macy's operates about 550 stores under the Macy's nameplate, nearly 60 stores under the Bloomingdale's (full-price and outlet) and Bloomie's nameplates, and 158 freestanding Bluemercury specialty beauty stores. Macy's also operates e-commerce sites and licenses two Bloomingdale's stores in the United Arab Emirates and Kuwait. Women's apparel, accessories, shoes, cosmetics, and fragrances composed 61% of Macy's 2022 sales.</p>
<h3>Macy's: Financial Performance Dissected</h3>
<p><strong>Market Capitalization Analysis:</strong> Below industry benchmarks, the company's market capitalization reflects a smaller scale relative to peers. This could be attributed to factors such as growth expectations or operational capacity.</p>
<p><strong>Decline in Revenue:</strong> Over the 3 months period, Macy's faced challenges, resulting in a decline of approximately <strong>-2.42%</strong> in revenue growth as of 31 January, 2024. This signifies a reduction in the company's top-line earnings. As compared to competitors, the company encountered difficulties, with a growth rate lower than the average among peers in the Consumer Discretionary sector.</p>
<p><strong>Net Margin:</strong> The company's net margin is a standout performer, exceeding industry averages. With an impressive net margin of <strong>-0.84%,</strong> the company showcases strong profitability and effective cost control.</p>
<p><strong>Return on Equity (ROE):</strong> Macy's's ROE is below industry averages, indicating potential challenges in efficiently utilizing equity capital. With an ROE of <strong>-1.69%,</strong> the company may face hurdles in achieving optimal financial returns.</p>
<p><strong>Return on Assets (ROA):</strong> The company's ROA is below industry benchmarks, signaling potential difficulties in efficiently utilizing assets. With an ROA of <strong>-0.41%,</strong> the company may need to address challenges in generating satisfactory returns from its assets.</p>
<p><strong>Debt Management:</strong> Macy's's debt-to-equity ratio is below the industry average at <strong>1.45</strong>, reflecting a lower dependency on debt financing and a more conservative financial approach.</p>
<h2>Analyst Ratings: What Are They?</h2>
<p>Experts in banking and financial systems, analysts specialize in reporting for specific stocks or defined sectors. Their comprehensive research involves attending company conference calls and meetings, analyzing financial statements, and engaging with insiders to generate what are known as analyst ratings for stocks. Typically, analysts assess and rate each stock once per quarter.</p>
<p>Some analysts publish their predictions for metrics such as growth estimates, earnings, and revenue to provide additional guidance with their ratings. When using analyst ratings, it is important to keep in mind that stock and sector analysts are also human and are only offering their opinions to investors.</p>
<p>If you want to keep track of which analysts are outperforming others, you can view updated analyst ratings along withanalyst success scores in <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a>.</p>
<p>This article was generated by Benzinga's automated content engine and reviewed by an editor.</p>


Analyst Ratings

Expert Ratings For Macy's

<p>Telsey Advisory Group  analyst Dana Telsey   maintains Macy's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/M#NYSE">M</a>) with a Market Perform and maintains $21 price target.</p>


Price Target

Telsey Advisory Group Maintains Market Perform on Macy's, Maintains $21 Price Target

<p><a href="https://www.sec.gov/ix?doc=/Archives/edgar/data/794367/000162828024012734/m-20240203.htm" title="https://www.sec.gov/ix?doc=/Archives/edgar/data/794367/000162828024012734/m-20240203.htm">https://www.sec.gov/ix?doc=/Archives/edgar/data/794367/000162828024012734/m-20240203.htm</a></p>


Macy's Inc Closely Monitoring Developments On Matter Of CFPB Rule On What Credit Card Companies Can Charge For Late Fees For Missed Payment; $1B Of Impairment, Restructuring And Other Costs Recognized In 2023 Primarily Relates To Actions That Align With New Strategy; $957M Non-Cash Asset Impairment Charge Recognized In 2023 Primarily Related To About 150 Locations Planned For Closure Over Next 3 Years

<p><strong>Macy's's</strong> (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/M#NYSE">M</a>) short percent of float has fallen 16.57% since its last report. The company recently reported that it has <strong>17.16 million shares sold short</strong>, which is 7.05% of all regular shares that are available for trading. Based on its trading volume, <strong>it would take traders 2.9 days to cover their short positions on average.</strong></p>
<h3>Why Short Interest Matters</h3>
<p>Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock/">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.</p>
<p>Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.</p>
<p><strong>See Also:</strong> <a href="https://www.benzinga.com/short-interest"><strong>List of the most shorted stocks</strong></a></p>
<h3>Macy's Short Interest Graph (3 Months)</h3>
<p><img src="https://www.benzinga.com/files/images/story/2024/1710954922_0.png" alt="short_fig" /></p>
<p>As you can see from the chart above the percentage of shares that are sold short for Macy's has declined since its last report. This does not mean that the stock is going to rise in the near-term but traders should be aware that less shares are being shorted.</p>
<h3>Comparing Macy's's Short Interest Against Its Peers</h3>
<p>Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.</p>
<p>According to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, Macy's's peer group average for short interest as a percentage of float is 8.17%, which means the company has <strong>less</strong> short interest than most of its peers.</p>
<p>Did you know that increasing short interest can actually be <strong>bullish</strong> for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze/"><strong>This post by Benzinga Money explains how you can profit from it.</strong></a></p>
<p><em>This article was generated by Benzinga's automated content engine and was reviewed by an editor.</em></p>


How Is The Market Feeling About Macy's?

<p><strong>Macy&#8217;s Inc</strong>. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/M#NYSE">M</a>) has reportedly decided to disclose its financial records to Arkhouse and Brigade Capital, marking a potential breakthrough in their $6.6 billion privatization bid for the U.S. department store operator.</p>
<p>The retailer, which previously rejected acquisition advances from Arkhouse and Brigade, has now agreed to a confidentiality agreement, according to a report from Reuters.</p>
<p>This agreement allows for the exchange of sensitive commercial information, the report noted.</p>
<p>Access to Macy&#8217;s information will help Arkhouse and Brigade clinch debt commitments to finance the deal.</p>
<p>Arkhouse and Brigade have recently raised their offer&nbsp;<a target="_blank" href="https://www.benzinga.com/markets/equities/24/03/37449882/why-is-department-store-chain-macys-stock-surging-today" rel="noreferrer noopener">from $21 to $24 per share.</a></p>
<p>Macy&#8217;s is currently facing a board challenge from Arkhouse Management, which nominated nine director candidates last month&nbsp;<a target="_blank" href="https://www.benzinga.com/pressreleases/24/02/b37219010/arkhouse-nominates-nine-highly-qualified-independent-candidates-for-election-to-macys-board-of-dir" rel="noreferrer noopener">in an effort to influence the former&#8217;s decisions</a>.</p>
<p>The company&#8217;s fourth-quarter revenue declined 1.4% year-on-year to $8.12 billion,&nbsp;<a target="_blank" href="https://www.benzinga.com/news/earnings/24/02/37336140/macys-q4-sales-slightly-sour-talks-bold-new-strategy-of-150-store-closures-in-two-years" rel="noreferrer noopener">missing the consensus of $8.15 billion.</a></p>
<p>MAcy&#8217;s has also decided to close about&nbsp;<a target="_blank" href="https://www.benzinga.com/pressreleases/24/02/b37331064/macys-inc-announces-a-bold-new-chapter-challenging-the-status-quo-to-fundamentally-reposition-the-" rel="noreferrer noopener">150 unproductive locations through 2026</a>.</p>
<p><strong>Price Action</strong>: M shares closed higher by 1.41% at $21.54 on Tuesday.</p>
<p><strong><em>Disclaimer</em>: </strong><em>This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.</em></p>
<p><em>Photo via Wikimedia Commons</em></p>
