Stock Idea: Macy*s (M, $25.00)

(May 16, 2011 update: All future stock posts will appear on my new subscription-only website at www.GoodfellowLLC.com. Please visit!)

Macy*s (M) and its wholly-owned subsidiary, Bloomingdale's, sells merchandise in 45 states.

Projected consensus EPS growth is +10.5%, +10.8% and +7.0% for fiscal years 2011 through 2013; with a PE of 10.8.

Macy*s is one of those "two-steps-forward-one-step-back" stocks which is ripe for trading, but frustrating for buy & hold investors. I would be a buyer at the current price, and plan to sell before it reaches $30, expecting it to drop again, then buy it back a few dollars cheaper.

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The Right Huff is Crista Huff's blog for politics and items of sociological or financial interest. Crista Huff also managesGoodfellow LLC, a subscription-only stock market website. We strive to identify financially healthy companies in which traders and investors can buy shares and earn dividends and capital gains. Seedisclaimer for the risks associated with investing in the stock market. See your tax advisor for the tax consequences of investing. See your estate planning attorney to clarify beneficiary and inheritance issues associated with your assets.