Here’s What Makes Macy’s (M) A Great Investment

ClearBridge Investments, an investment management firm, published its “Small Cap Value Strategy” third quarter 2021 investor letter – a copy of which can be downloaded here. The ClearBridge Small Cap Value Strategy outperformed the Russell 2000 Value Index, the Strategy’s benchmark, during the third quarter of 2021. You can take a look at the fund’s top 5 holdings to have an idea about their best picks for 2021.

ClearBridge Investments Small Cap Value Strategy, in its Q3 2021 investor letter, mentioned Macy’s, Inc. (NYSE: M) and discussed its stance on the firm. Macy’s, Inc. is a Cincinnati, Ohio-based department store company with a $7.5 billion market capitalization. Macy’s delivered a 123.47% return since the beginning of the year, while its 12-month returns are up by 133.86%. The stock closed at $25.14 per share on December 24, 2021.

Here is what ClearBridge Investments Small Cap Value Strategy has to say about Macy’s, Inc.   in its Q3 2021 investor letter:

“Meanwhile, Macy’s, an omnichannel retail organization that operates stores, websites, and mobile applications under the Macy’s, Bloomingdale’s, and Bluemercury brands, also had a strong quarter (+21.5%). Macy’s delivered strong second-quarter earnings, beating on earnings and revenue and raising guidance as the retailer continues to pay down debt and grow its digital business.”

Photo by Carson Masterson on Unsplash

Based on our calculations, Macy’s, Inc. (NYSE: M) was not able to clinch a spot in our list of the 30 Most Popular Stocks Among Hedge Funds. Macy’s was in 41 hedge fund portfolios at the end of the third quarter of 2021, compared to 35 funds in the previous quarter. Macy’s, Inc. (NYSE: M) delivered an 8.50% return in the past 3 months.

You can find more than 100 investor letters from hedge funds and prominent investors on our hedge fund investor letters 2021 Q3 page.

Disclosure: None. This article is originally published at Insider Monkey.