Vetr cut shares of Nordstrom, Inc. (NYSE:JWN) from a hold rating to a sell rating in a research note released on Monday. They currently have $41.24 price target on the stock.
A number of other analysts also recently issued reports on the company. Zacks Investment Research raised Nordstrom from a strong sell rating to a hold rating in a research note on Tuesday, February 28th. Royal Bank of Canada reduced their price objective on Nordstrom from $50.00 to $47.00 and set an outperform rating on the stock in a research note on Monday, February 27th. Telsey Advisory Group cut their target price on Nordstrom from $52.00 to $50.00 and set a market perform rating on the stock in a research report on Friday, February 24th. Robert W. Baird reissued a neutral rating and set a $56.00 target price on shares of Nordstrom in a research report on Wednesday, February 22nd. Finally, Piper Jaffray Companies began coverage on Nordstrom in a research report on Friday, February 17th. They set a neutral rating and a $41.00 target price on the stock. Seven investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating and eight have assigned a buy rating to the stock. The stock has an average rating of Hold and an average price target of $46.90.
Nordstrom (NYSE:JWN) opened at 44.53 on Monday. The company has a 50 day moving average of $44.53 and a 200-day moving average of $49.87. The stock has a market capitalization of $7.43 billion, a P/E ratio of 22.04 and a beta of 1.01. Nordstrom has a one year low of $35.01 and a one year high of $62.82.
Nordstrom (NYSE:JWN) last released its quarterly earnings data on Thursday, February 23rd. The company reported $1.37 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.15 by $0.22. Nordstrom had a return on equity of 58.85% and a net margin of 2.28%. The business had revenue of $4.24 billion for the quarter, compared to the consensus estimate of $4.36 billion. During the same quarter in the previous year, the company posted $1.17 EPS. The company’s revenue was up 2.4% compared to the same quarter last year. Equities research analysts predict that Nordstrom will post $2.92 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, March 15th. Investors of record on Wednesday, March 1st were issued a $0.37 dividend. The ex-dividend date of this dividend was Monday, February 27th. This represents a $1.48 dividend on an annualized basis and a yield of 3.32%. Nordstrom’s dividend payout ratio (DPR) is presently 79.14%.
In other Nordstrom news, President Blake W. Nordstrom sold 1,558 shares of Nordstrom stock in a transaction dated Monday, February 27th. The stock was sold at an average price of $47.50, for a total transaction of $74,005.00. Following the completion of the sale, the president now directly owns 2,115,346 shares of the company’s stock, valued at approximately $100,478,935. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Daniel F. Little sold 7,423 shares of Nordstrom stock in a transaction dated Monday, April 3rd. The stock was sold at an average price of $47.01, for a total value of $348,955.23. Following the sale, the insider now directly owns 76,371 shares of the company’s stock, valued at $3,590,200.71. The disclosure for this sale can be found here. Over the last quarter, insiders sold 19,333 shares of company stock valued at $888,010. 7.03% of the stock is currently owned by company insiders.
Hedge funds have recently made changes to their positions in the company. Evercore Wealth Management LLC increased its stake in shares of Nordstrom by 9.1% in the second quarter. Evercore Wealth Management LLC now owns 2,779 shares of the company’s stock worth $106,000 after buying an additional 231 shares during the period. Gemmer Asset Management LLC boosted its stake in Nordstrom by 1.2% in the third quarter. Gemmer Asset Management LLC now owns 2,219 shares of the company’s stock worth $115,000 after buying an additional 26 shares during the period. Advisory Services Network LLC boosted its stake in Nordstrom by 18.4% in the third quarter. Advisory Services Network LLC now owns 2,250 shares of the company’s stock worth $117,000 after buying an additional 349 shares during the period. Sowell Financial Services LLC purchased a new stake in Nordstrom during the fourth quarter worth approximately $123,000. Finally, Johnson Financial Group Inc. boosted its stake in Nordstrom by 7.9% in the fourth quarter. Johnson Financial Group Inc. now owns 2,600 shares of the company’s stock worth $125,000 after buying an additional 190 shares during the period. 66.03% of the stock is owned by institutional investors.
Nordstrom Company Profile
Nordstrom, Inc is a fashion specialty retailer in the United States. The company operates through two segments: Retail and Credit. The Retail segment includes approximately 115 Nordstrom branded full-line stores in the United States and Nordstrom.com, approximately 167 off-price Nordstrom Rack stores, two Canada full-line stores, Nordstromrack.com and HauteLook, and other retail channels, including five Trunk Club showrooms and TrunkClub.com, its two Jeffrey boutiques and one clearance store that operates under the name Last Chance.
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