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NEW YORK ( TheStreet) -- Macy's (NYSE: M) hit a new 52-week high Wednesday as it is currently trading at $40.06, above its previous 52-week high of $39.96 with 766,605 shares traded as of 10 a.m. ET. Average volume has been seven million shares over the past 30 days. Macy's has a market cap of $14.81 billion and is part of the services sector and retail industry. Shares are up 23.4% year to date as of the close of trading on Tuesday. Macy's, Inc., together with its subsidiaries, operates department stores and Internet Web sites in the United States. The company has a P/E ratio of 13.6, above the average retail industry P/E ratio of 12.9 and below the S&P 500 P/E ratio of 17.7.