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Hedge Fund Trade of the Week: Macy’s

Where’s the fast money finding opportunity? In this regular feature Anthony Scaramucci aka The Hedge reveals his latest greatest pick!

This week’s trade is ….retail icon Macy’s; sponsor of New York City’s Thanksgiving Day Parade and operator of the world’s largest store.

Check out the company's chart as well as some of its stats:

Macy’s (M)
Sector: Services
Industry: Retail
Based in: Cincinnati, OH
52-week high: $26.14
52-week low: $15.34

It might almost be Thanksgiving but looking at the company’s balance sheet, Macy’s is no turkey, says Scaramucci. It has “one of the highest cash flows in its peer group and one of the lowest multiples at 11.9 times forward earnings.”

He also likes that Macy’s is getting debt off the books. “They’re paying back $1.2 billion.” And Macy’s has “great brands” he says, which generates shopper loyalty.

And if you’re a Wall Street whale watcher, Scaramucci also says “Maverick and Appaloosa – two classic hedge fund value buyers own this stock.”

And that make Macy's the Hedge Fund Trade of the Week.

Click here to check out other Hedge Fund Trade Of The Week posts

* Anthony Scaramucci runs SkyBridge Capital, a leading alternative asset manager with more than $7 billion under management. Every week on Fast Money, Scaramucci, aka 'The Hedge', takes you behind the hedges, giving you an unprecedented look at the names getting the most chatter amongst the hedge fund community.



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Trader disclosure: On November 23, 2010, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s "Fast Money" were owned by the "Fast Money" traders; Seymour Owns (AAPL), (BAC), (BX), (TSO), (HPQ), (FXI); Finerman's Firm Is Short (WAG; Najarian Owns (BAC); Najarian Owns (GDXJ) Call Spread; Najarian Owns (MS); Najarian Owns (NUAN) Calls; Najarian Owns (PFE); Najarian Owns (YHOO); Najarian Owns (CRUS); Najarian Owns (WLT) Call Spread; Najarian Owns (MEE) Call Spread; Najarian Owns (TEVA); Najarian Owns (CNI); Najarian Owns (AKAM) Call Spread; Najarian Owns (DO); Najarian Owns (DOW); Najarian Owns (FIRE); Terranova Owns (UPL), (C), (PEP), (VRTS), (OXY), (GS), (FCX), (IBM), (CRM), (MCD), (NKE), (AAPL); Terranova Owns (CRM) Puts; Terranova Owns (FCX) Puts; Finerman's Firm Is Short (IJR); Finerman's Firm Is Short (MDY); Finerman's Firm Is Short (SPY); Finerman's Firm Is Short (IWM); Finerman's Firm Is Long S&P Puts; Finerman's Firm Is Long Russell 2000 Puts; Finerman Owns (AAPL); Finerman's Firm Owns (AEO); Finerman's Firm Owns (ARO); Finerman Owns (BAC); Finerman's Firm Owns (BP); Finerman Owns (BX); Finemran Owns (DYN); Fnierman's Firm And Finerman Own (HPQ); Finerman's Firm And Finerman Own (JCG); Finerman's FIrm And Finerman Own (JPM); Finerman's Firm Owns (M); Finerman's Firm And Finerman Own (MSFT); Finemran's Firm Owns (SKS); Finerman's Firm Owns (TGT); FInerman Owns (USO); Finerman's Firm Owns (WMT); Steve Cortes is short (UNP), (CSX), Nasdaq Futures, (AAPL) and corn. Steve Cortes is long 2 Year Notes, U.S. Dollar vs. Mexican Peso, Australian Dollar, Canadian Dollar. Steve Cortes Owns (TSN) and (K).

For Anthony Scaramucci
Scaramucci And Skybridge Capital Own (M)

For Joe Terranova
Terranova is chief market strategist of Virtus Investment Partners, LTD.
Virtus Investment Partners own more than 1% of (ABAX)
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Virtus Investment Partners own more than 1% of (AMKR)
Virtus Investment Partners own more than 1% of (CASS)
Virtus Investment Partners own more than 1% of (CMS)
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Virtus Investment Partners own more than 1% of (LDR)
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Virtus Investment Partners own more than 1% of (XLY)
Virtus Investment Partners own more than 1% of (XLF)
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For Brian Kelly
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Accounts Managed By Kanundrum Capital Own (JJG)

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Baker And Baker Avenue Asset Management Own (ODP)
Baker And Baker Avenue Asset Management Own (C)
Baker And Baker Avenue Asset Management Own (CTSH)
Baker And Baker Avenue Asset Management Own (IBM)
Baker And Baker Avenue Asset Management Own (GLD)
Baker And Baker Avenue Asset Management Own (GDX)
Baker And Baker Avenue Asset Management Own (PHYS)
Baker And Baker Avenue Asset Management Own (SLV)
Baker And Baker Avenue Asset Management Own (URBN)
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For Jeff Klinefelter
Piper Jaffray Is A Market Maker In (HOTT), (WTSLA)
Piper Jaffray Usually Provides Bids And Offers For And Will Buy And Sell On A
Principal Basis (ANF), (ARO), (AEO), (GES), (GPS), (JCG), (JCP), (KSS)

For Scott Nations
***No Disclosures



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