Nordstrom, Inc. (NYSE:JWN) was downgraded by stock analysts at Vetr from a “hold” rating to a “sell” rating in a note issued to investors on Monday. They presently have a $41.24 price objective on the stock. Vetr‘s target price would suggest a potential downside of 3.15% from the stock’s current price.
Several other equities analysts also recently commented on the stock. Cowen and Company reissued an “outperform” rating and issued a $55.00 price objective on shares of Nordstrom in a research note on Wednesday, November 30th. Credit Suisse Group AG raised shares of Nordstrom from a “neutral” rating to an “outperform” rating and set a $58.00 price objective for the company in a research note on Wednesday, January 18th. Royal Bank of Canada set a $50.00 price objective on shares of Nordstrom and gave the company a “hold” rating in a research note on Tuesday, February 14th. Goldman Sachs Group Inc downgraded shares of Nordstrom from a “neutral” rating to a “sell” rating and set a $35.00 price objective for the company. in a research note on Thursday, February 2nd. Finally, JPMorgan Chase & Co. downgraded shares of Nordstrom from a “neutral” rating to an “underweight” rating and dropped their price objective for the company from $55.00 to $48.00 in a research note on Friday, December 16th. Eight investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and eight have given a buy rating to the company. Nordstrom has an average rating of “Hold” and a consensus target price of $46.71.
Shares of Nordstrom (NYSE:JWN) traded down 3.05% on Monday, reaching $42.58. The company’s stock had a trading volume of 2,651,226 shares. The stock has a 50-day moving average price of $44.76 and a 200-day moving average price of $50.19. Nordstrom has a 1-year low of $35.01 and a 1-year high of $62.82. The company has a market capitalization of $7.24 billion, a price-to-earnings ratio of 21.08 and a beta of 1.01.
Nordstrom (NYSE:JWN) last issued its quarterly earnings data on Thursday, February 23rd. The company reported $1.37 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.15 by $0.22. The business earned $4.24 billion during the quarter, compared to the consensus estimate of $4.36 billion. Nordstrom had a net margin of 2.28% and a return on equity of 58.85%. The firm’s revenue was up 2.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.17 EPS. On average, equities research analysts forecast that Nordstrom will post $2.92 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, March 15th. Investors of record on Wednesday, March 1st were given 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 payout ratio is currently 79.14%.
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In other Nordstrom news, insider Peter E. Nordstrom sold 3,297 shares of Nordstrom stock in a transaction dated Friday, March 10th. The shares were sold at an average price of $44.75, for a total value of $147,540.75. Following the sale, the insider now owns 2,312,789 shares of the company’s stock, valued at $103,497,307.75. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, 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 directly owns 2,140,587 shares in the company, valued at approximately $93,757,710.60. The disclosure for this sale can be found here. Insiders have sold 11,910 shares of company stock worth $539,055 over the last three months. 7.03% of the stock is owned by insiders.
A number of hedge funds have recently made changes to their positions in JWN. Gemmer Asset Management LLC raised its stake in shares of Nordstrom by 1.2% in the third quarter. Gemmer Asset Management LLC now owns 2,219 shares of the company’s stock valued at $115,000 after buying an additional 26 shares in the last quarter. Advisory Services Network LLC raised its stake in shares of Nordstrom by 18.4% in the third quarter. Advisory Services Network LLC now owns 2,250 shares of the company’s stock valued at $117,000 after buying an additional 349 shares in the last quarter. Orinda Asset Management LLC bought a new stake in shares of Nordstrom during the third quarter valued at approximately $129,000. Johnson Financial Group Inc. raised its stake in shares of Nordstrom by 7.9% in the fourth quarter. Johnson Financial Group Inc. now owns 2,600 shares of the company’s stock valued at $125,000 after buying an additional 190 shares in the last quarter. Finally, Sowell Financial Services LLC bought a new stake in shares of Nordstrom during the fourth quarter valued at approximately $123,000. 66.03% of the stock is currently owned by institutional investors and hedge funds.
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.
To view Vetr’s full report, visit Vetr’s official website.
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