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Does Greg Abel Know Something Wall Street Doesn't? New Berkshire Hathaway CEO Doubles Down On a Legacy Department Store Stock With a 3.3% Dividend Yield
The Motley Fool·
Berkshire Hathaway CEO Greg Abel has more than doubled the company's position in Macy's during Q2, despite the stock being a legacy department store. Macy's has executed a successful turnaround strategy called 'A Bold New Chapter' since 2024, achieving its best comparable sales growth in four years, with Bloomingdale's posting record growth. The stock has risen 78% over the past year and offers a 3.3% dividend yield, trading at a low valuation with strong free cash flow generation.
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