NY State Common Retirement Fund Decreases Stake in Macy’s by 5.2% in Q1
August 13, 2023
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Macy’s ($NYSE:M), Inc. is an American holding company that serves as the parent entity of a large portfolio of retail stores, including Macy’s, Bloomingdale’s, and Bluemercury. The company has a rich history of successful operations, and its stock has been a common sight in many investment portfolios. This decision has likely been made due to the nation-wide uncertainty surrounding the economic landscape and retail industry. A number of factors, such as the pandemic and consumer trends, have caused shifts in the way people shop and spend their money, and this has posed a significant challenge for companies like Macy’s, Inc. Despite these obstacles, the company’s stock has remained relatively stable throughout the year, which may have factored into the Retirement Fund’s decision.
Going forward, it is uncertain how long the NYS Common Retirement Fund will maintain its decreased investment in Macy’s, Inc., though it will likely depend on how the economic recovery progresses. For now, it seems that the Fund is taking a wait-and-see approach and is looking to make changes to its portfolio that will help maximize returns in the long-term.
Analysis
After examining MACY’S financials, GoodWhale classified them as a ‘cow’ company – one that has a track record of consistently and sustainably paying dividends. This type of company may be of interest to income investors, as they can rely on a regular dividend payout over time. Looking at the company’s Star Chart, MACY’S is strong in asset and dividend, medium in profitability, and weak in growth. On the other hand, their health score is 8/10 when it comes to cashflows and debt, indicating that they are able to pay off their debt and fund future operations. Therefore, they may be an attractive option for long-term investors looking for income. More…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Macy’s. More…
| Total Revenues | Net Income | Net Margin |
| 24.94k | 1.05k | 4.1% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Macy’s. More…
| Operations | Investing | Financing |
| 1.47k | -1.25k | -296 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Macy’s. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 16.87k | 12.7k | 14.99 |
Key Ratios Snapshot
Some of the financial key ratios for Macy’s are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 3.0% | 209.9% | 6.0% |
| FCF Margin | ROE | ROA |
| 0.6% | 23.0% | 5.6% |
Peers
Macy’s Inc, World Co Ltd, Kohl’s Corp, and PT Ramayana Lestari Sentosa Tbk are all retail companies.
– World Co Ltd ($TSE:3612)
As of 2022, World Co Ltd has a market cap of 46.04B and a Return on Equity of 4.14%. The company is engaged in the business of providing online services. It offers a range of services, including online search, advertising, maps, software applications, and cloud computing.
– Kohl’s Corp ($NYSE:KSS)
Kohl’s Corp is an American department store retail chain. The company has a market capitalization of $3.56 billion as of 2022 and a return on equity of 16.46%. Kohl’s operates 1,158 stores in 49 states. The company offers a wide variety of merchandise, including apparel, shoes, cosmetics, and home goods. Kohl’s is known for its discount pricing and extensive promotions.
– PT Ramayana Lestari Sentosa Tbk ($IDX:RALS)
Ramayana Lestari Sentosa Tbk is an Indonesian conglomerate with interests in retail, malls, and real estate. The company has a market cap of 3.67 trillion as of 2022 and a return on equity of 6.89%. The company was founded in 1973 and is headquartered in Jakarta, Indonesia.
Summary
Macy’s, Inc. is a top retailer in the United States with a large presence in department stores and e-commerce. Investors should consider the NYSCRF’s strategies when making their own decisions about investing in Macy’s, Inc. and should also be aware of any further developments in the company’s stock.
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