Nordstrom Inc. (NYSE:JWN) 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 value of $274,040.00. Following the completion of the sale, the insider now owns 68,088 shares of the company’s stock, valued at $3,540,576. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Shares of Nordstrom Inc. (NYSE:JWN) opened at 51.48 on Friday. The stock has a market capitalization of $8.93 billion, a PE ratio of 21.93 and a beta of 0.93. Nordstrom Inc. has a 52-week low of $35.01 and a 52-week high of $75.67. The stock has a 50 day moving average price of $51.17 and a 200-day moving average price of $46.70.
Nordstrom (NYSE:JWN) last posted its quarterly earnings results on Thursday, August 11th. The company reported $0.67 EPS for the quarter, beating the consensus estimate 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 company’s quarterly revenue was down .2% compared to the same quarter last year. During the same period last year, the firm earned $0.93 EPS. On average, equities research analysts anticipate that Nordstrom Inc. will post $2.73 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 13th. Investors of record on Monday, August 29th were paid a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 2.87%. The ex-dividend date of this dividend was Thursday, August 25th. Nordstrom’s payout ratio is currently 62.98%.
Institutional investors have recently added to or reduced their stakes in the stock. Brown Advisory Inc. increased its position in Nordstrom by 0.4% in the second quarter. Brown Advisory Inc. now owns 12,076 shares of the company’s stock valued at $460,000 after buying an additional 50 shares during the last quarter. Headinvest LLC increased its position in Nordstrom by 1.4% in the second quarter. Headinvest LLC now owns 7,070 shares of the company’s stock valued at $269,000 after buying an additional 100 shares during the last quarter. Ken Stern & Associates Inc. increased its position in Nordstrom by 2.1% in the second quarter. Ken Stern & Associates Inc. now owns 6,454 shares of the company’s stock valued at $246,000 after buying an additional 130 shares during the last quarter. Tradewinds Capital Management LLC increased its position in Nordstrom by 1.3% in the second quarter. Tradewinds Capital Management LLC now owns 10,514 shares of the company’s stock valued at $400,000 after buying an additional 140 shares during the last quarter. Finally, 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. 65.48% of the stock is owned by hedge funds and other institutional investors.
A number of analysts recently issued reports on the company. Cowen and Company restated an “outperform” rating and issued a $55.00 price target on shares of Nordstrom in a research report on Monday, August 29th. Vetr upgraded Nordstrom from a “hold” rating to a “buy” rating and set a $47.50 target price on the stock in a research note on Tuesday, July 26th. RBC Capital Markets reiterated a “sector perform” rating and issued a $47.00 target price (up previously from $38.00) on shares of Nordstrom in a research note on Monday, August 15th. Piper Jaffray Cos. reiterated a “neutral” rating and issued a $45.00 target price on shares of Nordstrom in a research note on Monday, July 11th. Finally, Telsey Advisory Group increased their target price on Nordstrom from $40.00 to $53.00 and gave the stock a “market perform” rating in a research note on Friday, August 12th. Seven research analysts have rated the stock with a sell rating, eighteen have given a hold rating and eight have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $47.13.
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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