M Stock Summary and Trading Ideas (Macy's | NYSE:M)

Founded in 1858 and based in New York City, Macy's operates about 500 stores under the Macy's nameplate, nearly 60 stores under the Bloomingdale's (full-price and outlet) and Bloomie's nameplates, and 159 freestanding Bluemercury specialty beauty stores. Macy's also operates e-commerce sites and licenses Bloomingdale's stores in the United Arab Emirates and Kuwait. Women's apparel, accessories, shoes, cosmetics, and fragrances composed 62% of Macy's 2023 sales.

Macy's trades on the NYSE stock market under the symbol M.

As of April 23, 2024, M stock price climbed to $19.02 with 3,767,236 million shares trading.

M has a beta of 1.04, meaning it tends to be more sensitive to market movements. M has a correlation of 0.05 to the broad based SPY ETF.

M has a market cap of $5.21 billion. This is considered a Mid Cap stock.

Last quarter Macy's reported $8 billion in Revenue and $2.45 earnings per share. This fell short of revenue expectation by $-30 million and exceeded earnings estimates by $.49.

In the last 3 years, M stock traded as high as $37.95 and as low as $10.54.

The top ETF exchange traded funds that M belongs to (by Net Assets): VTI, IJH, VB, VBR, VXF.

M has underperformed the market in the last year with a price return of +15.3% while the SPY ETF gained +24.3%. However, in the short term, M had mixed performance relative to the market. It has outperformed in the last 3 months, returning +5.1% vs +4.9% return in SPY. But in the last 2 weeks, M shares have been beat by the market, returning -2.7% compared to an SPY return of -2.5%.

M support price is $18.24 and resistance is $19.27 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that M stock will trade within this expected range on the day.