Berkshire Hathaway's Greg Abel Just Bought 3 Million Shares of Macy's Stock. It Sure Looks Cheap, but Is It a Great Value?

Greg Abel, Berkshire Hathaway's new CEO, purchased 3 million shares of Macy's in his first quarter, marking the company's first investment in the department store retailer. Macy's trades at a P/E ratio of 10 and offers a 3% dividend yield. The company showed strong Q1 performance with 3% comparable sales growth, particularly driven by its luxury brands Bloomingdale's and Bluemercury. While the stock appears cheap, the article questions whether it represents a true value investment aligned with Berkshire's long-term philosophy.