M

Macy's Inc

Consumer


Presented:05/20/2015
Price:$68.21
Cap:N/A
Current Price:$15.64
Cap:$4.34B

Presented

Date05/20/2015
Price$68.21
Market CapN/A
Ent Value$28.85B
P/E Ratio16.2x
Book Value$15.42
Div Yield2.11%
Shares O/S337.60M
Ave Daily Vol4,470,000
Short Int4.35%

Current

Price$15.64
Market Cap$4.34B
Macy's, Inc., together with its subsidiaries, operates stores and Internet Websites in the United States. Its stores and Websites sell a range of merchandise, including apparel and accessories for men, women, and children; cosmetics; home furnishings; and other consumer goods. The company also operates Bloomingdale’s Outlet stores that offer a range of apparel and accessories, including women's ready-to-wear, fashion accessories, jewelry, handbags, and intimate apparel, as well as men's, children's, and women's shoes. As of April 28, 2015, it operated approximately 885 stores under the Macy’s, Bloomingdale’s, Bloomingdale’s Outlet, and Bluemercury names in 45 states, the District of Columbia, Guam, and Puerto Rico. In addition, it operates as a beauty products and spa retailer; and macys.com, bloomingdales.com, and bluemercury.com Websites. The company was formerly known as Federated Department Stores, Inc. and changed its name to Macy’s, Inc. in June 2007. Macy’s, Inc. was founded in 1830 and is headquartered in Cincinnati, Ohio.

Publicly traded companies mentioned herein: General Growth Properties Inc (GGP), Hudson’s Bay Co (HBC CN), Kohl's Corporation (KSS), Macerich Co (MAC), Macy’s Inc (M), Sears Holdings Corp (SHLD), Vornado Realty Trust (VNO)

Highlights

Based on the value of its real estate assets the presenter believes there is substantial, underappreciated value in shares of Macy's (M) at ~$68. He does not see investors or the Street "paying attention to what could be monetized in the near future", and believes there are a number of options management could pursue to unlock value. Depending on the path taken, he sees a favorable risk/ reward setup with anywhere from 25% - 45% upside potential.

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Idea Discussion

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