Nordstrom, Inc. (NYSE:JWN) was downgraded by research analysts at Vetr from a “hold” rating to a “sell” rating in a report released on Monday. They presently have a $41.24 price target on the stock. Vetr‘s target price points to a potential downside of 3.15% from the stock’s current price.
Other equities analysts have also issued research reports about the company. Cowen and Company reiterated an “outperform” rating and issued a $55.00 target price on shares of Nordstrom in a research note on Wednesday, November 30th. Credit Suisse Group AG upgraded Nordstrom from a “neutral” rating to an “outperform” rating and set a $58.00 target price on the stock in a research note on Wednesday, January 18th. Royal Bank of Canada set a $50.00 target price on Nordstrom and gave the company a “hold” rating in a research note on Tuesday, February 14th. Goldman Sachs Group Inc lowered Nordstrom from a “neutral” rating to a “sell” rating and set a $35.00 target price on the stock. in a research note on Thursday, February 2nd. Finally, JPMorgan Chase & Co. lowered Nordstrom from a “neutral” rating to an “underweight” rating and cut their target price for the company from $55.00 to $48.00 in a research note on Friday, December 16th. Eight equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and eight have assigned a buy rating to the company’s stock. Nordstrom currently has a consensus rating of “Hold” and a consensus price target of $46.71.
Nordstrom (NYSE:JWN) traded down 3.05% during midday trading on Monday, reaching $42.58. 2,651,226 shares of the company were exchanged. The firm has a market capitalization of $7.24 billion, a PE ratio of 21.08 and a beta of 1.01. Nordstrom has a 52 week low of $35.01 and a 52 week high of $62.82. The company has a 50-day moving average of $44.76 and a 200 day moving average of $50.19.
Nordstrom (NYSE:JWN) last announced its quarterly earnings results on Thursday, February 23rd. The company reported $1.37 EPS for the quarter, beating the consensus estimate of $1.15 by $0.22. The firm had revenue of $4.24 billion for the quarter, compared to analyst estimates of $4.36 billion. Nordstrom had a return on equity of 58.85% and a net margin of 2.28%. The business’s revenue for the quarter was up 2.4% on a year-over-year basis. During the same quarter last year, the firm posted $1.17 earnings per share. Equities analysts predict that Nordstrom will post $2.92 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, March 15th. Investors of record on Wednesday, March 1st were issued a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 3.48%. The ex-dividend date of this dividend was Monday, February 27th. Nordstrom’s dividend payout ratio (DPR) is 79.14%.
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In related news, President Blake W. Nordstrom sold 3,169 shares of Nordstrom stock in a transaction dated Monday, March 13th. The stock was sold at an average price of $43.80, for a total transaction of $138,802.20. Following the completion of the sale, the president now owns 2,140,587 shares of the company’s stock, valued at $93,757,710.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Peter E. Nordstrom sold 3,297 shares of Nordstrom stock in a transaction dated Friday, March 10th. The stock was sold at an average price of $44.75, for a total value of $147,540.75. Following the sale, the insider now directly owns 2,312,789 shares of the company’s stock, valued at approximately $103,497,307.75. The disclosure for this sale can be found here. Insiders have sold 11,910 shares of company stock valued at $539,055 in the last ninety days. Corporate insiders own 7.03% of the company’s stock.
Several large investors have recently added to or reduced their stakes in the company. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake in Nordstrom by 0.3% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 6,658 shares of the company’s stock worth $319,000 after buying an additional 21 shares during the period. Synovus Financial Corp increased its stake in Nordstrom by 0.8% in the third quarter. Synovus Financial Corp now owns 3,070 shares of the company’s stock worth $158,000 after buying an additional 24 shares during the period. Gemmer Asset Management LLC increased 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. Raab & Moskowitz Asset Management LLC increased its stake in Nordstrom by 0.6% in the third quarter. Raab & Moskowitz Asset Management LLC now owns 8,124 shares of the company’s stock worth $421,000 after buying an additional 51 shares during the period. Finally, Concert Wealth Management Inc. increased its stake in Nordstrom by 0.5% in the third quarter. Concert Wealth Management Inc. now owns 14,043 shares of the company’s stock worth $730,000 after buying an additional 68 shares during the period. 66.03% of the stock is owned by hedge funds and other 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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