A number of other analysts have also recently commented on JWN. Stifel Nicolaus upped their price target on Nordstrom from $44.00 to $58.00 and gave the stock a buy rating in a research report on Friday, August 12th. Vetr upgraded Nordstrom from a hold rating to a buy rating and set a $47.50 price target for the company in a research report on Tuesday, July 26th. Telsey Advisory Group upped their price target on Nordstrom from $40.00 to $53.00 and gave the stock a market perform rating in a research report on Friday, August 12th. Credit Suisse Group AG restated a hold rating and issued a $40.00 price target on shares of Nordstrom in a research report on Friday, August 12th. Finally, Royal Bank Of Canada upped their price target on Nordstrom from $38.00 to $47.00 and gave the stock a sector perform rating in a research report on Monday, August 15th. Seven equities research analysts have rated the stock with a sell rating, eighteen 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 price target of $47.23.
Nordstrom (NYSE:JWN) traded down 1.10% during mid-day trading on Friday, reaching $51.31. The company had a trading volume of 476,394 shares. The company has a market capitalization of $8.90 billion, a PE ratio of 21.86 and a beta of 1.04. The firm has a 50-day moving average of $51.30 and a 200 day moving average of $46.67. Nordstrom has a 1-year low of $35.01 and a 1-year high of $75.67.
Nordstrom (NYSE:JWN) last issued its quarterly earnings results on Thursday, August 11th. The company reported $0.67 EPS for the quarter, topping analysts’ consensus estimates of $0.56 by $0.11. The business earned $3.65 billion during the quarter, compared to analysts’ expectations of $3.67 billion. Nordstrom had a return on equity of 47.22% and a net margin of 2.95%. The business’s quarterly revenue was down .2% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.93 earnings per share. On average, analysts predict that Nordstrom will post $2.73 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 13th. Shareholders of record on Monday, August 29th were issued a dividend of $0.37 per share. The ex-dividend date was Thursday, August 25th. This represents a $1.48 annualized dividend and a yield of 2.85%. Nordstrom’s payout ratio is currently 62.98%.
In other Nordstrom news, insider Daniel F. Little sold 5,270 shares of the firm’s stock in a transaction on Friday, September 23rd. The stock was sold at an average price of $52.00, for a total transaction of $274,040.00. Following the transaction, the insider now directly owns 68,088 shares in the company, valued at approximately $3,540,576. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 7.03% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Pacer Advisors Inc. increased its position in Nordstrom by 5.6% in the second quarter. Pacer Advisors Inc. now owns 2,632 shares of the company’s stock valued at $100,000 after buying an additional 140 shares during the last quarter. Evercore Wealth Management LLC increased its position in Nordstrom by 9.1% in the second quarter. Evercore Wealth Management LLC now owns 2,779 shares of the company’s stock valued at $106,000 after buying an additional 231 shares during the last quarter. WFG Advisors LP increased its position in Nordstrom by 51.7% in the second quarter. WFG Advisors LP now owns 2,906 shares of the company’s stock valued at $111,000 after buying an additional 991 shares during the last quarter. Blue Chip Partners Inc. purchased a new position in Nordstrom during the second quarter valued at approximately $114,000. Finally, Synovus Financial Corp increased its position in Nordstrom by 66.1% in the second quarter. Synovus Financial Corp now owns 3,046 shares of the company’s stock valued at $116,000 after buying an additional 1,212 shares during the last quarter. Institutional investors own 65.48% of the company’s stock.
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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