Five Retailers Billionaires Are Bullish On

#4. Dollar General Corp. (NYSE:DG)

– Billionaires with long positions as of March 31: 7

– Aggregate value of billionaires’ holdings as of March 31: $253.53 Million

Although the number of billionaire money managers invested in Dollar General Corp. (NYSE:DG) jumped to seven from five during the first three months of 2016, the aggregate value of those managers’ equity investments in the company fell by 41% quarter-on-quarter to $253.53 million despite an increase of 19% in the value of DG shares. As a result, the billionaire managers invested in the U.S. discount retailer were actually trimming their exposure to the company during the first quarter of 2016. Dollar General, which offers national brand and private brand products at prices below the $10 price tag through 12,719 stores across 43 states, has seen its market value gain 26% since the start of 2016. Just recently, research firm BTIG started coverage on Dollar General with a ‘Buy’ rating and a price target of $105, saying that the company has a “strong track record of operating results with 2015 the 26th consecutive year of positive same store sales growth”. Martin D. Sass’s MD Sass acquired a new stake of nearly 745,000 shares of Dollar General Corp. (NYSE:DG) during the March quarter.

#3. Macy’s Inc. (NYSE:M)

– Billionaires with long positions as of March 31: 8

– Aggregate value of billionaires’ holdings as of March 31: $538.31 Million

There was a number of eight money managers with ten-figure fortunes invested in Macy’s Inc. (NYSE:M) both at the end of the first quarter of 2016 and the final quarter of 2015. However, the dollar value of those managers’ equity positions in Macy’s grew by almost 17% quarter-on-quarter to $538.31 million, mainly due to a 27% gain in the value of Macy’s shares. Hence, some billionaires did cut their stakes in the U.S. department store chain during the first three months of 2016. The omnichannel retail firm that operates stores under three brands, namely Macy’s Bloomingdale’s and Bluemercury, has been experiencing a tough period lately, enduring declining sales and contracting margins amid sustained weakness in the overall department store sector. Macy’s comparable sales in the first quarter dropped 5.6% year-over-year, while the company’s bottom line fell a disturbing 39.9% year-over-year. With Macy’s shares down 7% year-to-date, the company is currently refurbishing a store location in Columbus, Ohio in an attempt to inject new dynamism. David Einhorn’s Greenlight Capital reported owning 7.06 million shares of Macy’s Inc. (NYSE:M) in its latest 13F.