Nordstrom (NYSE:JWN) Shares Gap Down to $26.02

Share on StockTwits

Nordstrom, Inc. (NYSE:JWN)’s stock price gapped down prior to trading on Thursday . The stock had previously closed at $24.31, but opened at $26.02. Nordstrom shares last traded at $25.12, with a volume of 175,440 shares trading hands.

Several analysts recently weighed in on the stock. Citigroup reduced their target price on shares of Nordstrom from $48.00 to $37.00 and set a “neutral” rating on the stock in a report on Wednesday, May 22nd. Credit Suisse Group reduced their target price on shares of Nordstrom from $40.00 to $36.00 and set a “neutral” rating on the stock in a report on Wednesday, May 22nd. Piper Jaffray Companies reduced their target price on shares of Nordstrom from $40.00 to $33.00 and set a “neutral” rating on the stock in a report on Wednesday, May 22nd. Gordon Haskett raised shares of Nordstrom from a “reduce” rating to a “hold” rating and set a $33.71 target price on the stock in a report on Thursday, June 20th. Finally, Robert W. Baird reduced their target price on shares of Nordstrom from $45.00 to $38.00 and set a “neutral” rating on the stock in a report on Wednesday, May 22nd. Five research analysts have rated the stock with a sell rating, fourteen have given a hold rating and two have given a buy rating to the stock. Nordstrom has an average rating of “Hold” and an average price target of $39.56.

The company has a quick ratio of 0.24, a current ratio of 0.76 and a debt-to-equity ratio of 6.34. The business’s fifty day simple moving average is $30.40 and its two-hundred day simple moving average is $38.08. The company has a market cap of $4.42 billion, a price-to-earnings ratio of 7.14, a PEG ratio of 1.44 and a beta of 0.66.

Nordstrom (NYSE:JWN) last released its quarterly earnings data on Tuesday, May 21st. The specialty retailer reported $0.23 earnings per share for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.20). Nordstrom had a return on equity of 58.16% and a net margin of 3.27%. The company had revenue of $3.44 billion for the quarter, compared to analyst estimates of $3.54 billion. During the same period in the previous year, the business posted $0.51 EPS. Sell-side analysts predict that Nordstrom, Inc. will post 3.31 EPS for the current fiscal year.

In other news, insider Peter E. Nordstrom sold 3,380 shares of the firm’s stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $32.46, for a total transaction of $109,714.80. Following the transaction, the insider now directly owns 2,530,989 shares in the company, valued at $82,155,902.94. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Christine Deputy sold 4,812 shares of the firm’s stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of $32.59, for a total transaction of $156,823.08. Following the transaction, the insider now owns 60,056 shares in the company, valued at $1,957,225.04. The disclosure for this sale can be found here. 5.21% of the stock is currently owned by company insiders.

Institutional investors and hedge funds have recently made changes to their positions in the company. JPMorgan Chase & Co. grew its position in Nordstrom by 4.6% in the 2nd quarter. JPMorgan Chase & Co. now owns 7,679,988 shares of the specialty retailer’s stock valued at $241,535,000 after buying an additional 340,606 shares during the last quarter. Price T Rowe Associates Inc. MD grew its position in Nordstrom by 1,093.5% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 2,383,907 shares of the specialty retailer’s stock valued at $75,951,000 after buying an additional 2,184,167 shares during the last quarter. Schroder Investment Management Group grew its position in Nordstrom by 50.3% in the 2nd quarter. Schroder Investment Management Group now owns 2,072,022 shares of the specialty retailer’s stock valued at $66,015,000 after buying an additional 693,633 shares during the last quarter. Northern Trust Corp grew its position in Nordstrom by 0.6% in the 2nd quarter. Northern Trust Corp now owns 1,663,234 shares of the specialty retailer’s stock valued at $52,990,000 after buying an additional 9,433 shares during the last quarter. Finally, Geode Capital Management LLC grew its position in Nordstrom by 5.1% in the 4th quarter. Geode Capital Management LLC now owns 1,650,673 shares of the specialty retailer’s stock valued at $76,815,000 after buying an additional 80,459 shares during the last quarter. Institutional investors and hedge funds own 63.94% of the company’s stock.

About Nordstrom (NYSE:JWN)

Nordstrom, Inc, a fashion retailer, provides apparel, shoes, cosmetics, and accessories for women, men, young adults, and children. It offers a range of brand name and private label merchandise through various channels, such as Nordstrom branded full-line stores and online store at Nordstrom.com; Nordstrom Rack stores; Nordstromrack.com and HauteLook; Jeffrey boutiques; clearance stores that operate under the Last Chance name; Trunk Club clubhouses and TrunkClub.com; and Nordstrom Locals.

Recommended Story: Stock Split

Receive News & Ratings for Nordstrom Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Nordstrom and related companies with MarketBeat.com's FREE daily email newsletter.

 


Latest News

Yu Darvish Receives Cortisone Shot for Elbow Impingement
Yu Darvish Receives Cortisone Shot for Elbow Impingement
Red Sox and Brandon Phillips Agree to Minor League Deal
Red Sox and Brandon Phillips Agree to Minor League Deal
Chris Sale Proves He is 2018 AL Cy Young Candidate
Chris Sale Proves He is 2018 AL Cy Young Candidate
Strong Results by Clint Frazier Could Keep Him with Yankees
Strong Results by Clint Frazier Could Keep Him with Yankees
Giants Closer Breaks Hand Punching Door Following Poor Outing
Giants Closer Breaks Hand Punching Door Following Poor Outing
Evan Longoria Out Six to Eight Weeks With Broken Hand
Evan Longoria Out Six to Eight Weeks With Broken Hand


 
© 2006-2019 BBNS.