JWN has been the subject of a number of other reports. Cowen and Company reiterated an outperform rating and issued a $55.00 target price on shares of Nordstrom in a research note on Monday, August 29th. Vetr cut shares of Nordstrom from a sell rating to a strong sell rating and set a $46.00 target price for the company. in a research note on Tuesday, September 6th. Piper Jaffray Cos. reiterated an overweight rating and issued a $56.00 target price (up from $53.00) on shares of Nordstrom in a research note on Wednesday, August 10th. Miller Tabak upgraded shares of Nordstrom from a sell rating to a hold rating and lifted their target price for the company from $30.00 to $39.50 in a research note on Tuesday, July 5th. They noted that the move was a valuation call. Finally, Goldman Sachs Group Inc. reissued a neutral rating and issued a $39.00 price target on shares of Nordstrom in a research report on Monday, August 1st. Seven 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. The company currently has a consensus rating of Hold and an average target price of $47.13.
Nordstrom (NYSE:JWN) opened at 51.50 on Thursday. The stock has a 50 day moving average of $50.53 and a 200-day moving average of $46.67. Nordstrom has a 52-week low of $35.01 and a 52-week high of $75.67. The company has a market capitalization of $8.93 billion, a P/E ratio of 21.94 and a beta of 0.93.
Nordstrom (NYSE:JWN) last posted its earnings results on Thursday, August 11th. The company reported $0.67 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.56 by $0.11. The firm earned $3.65 billion during the quarter, compared to analysts’ expectations of $3.67 billion. Nordstrom had a net margin of 2.95% and a return on equity of 47.22%. The company’s revenue was down .2% compared to the same quarter last year. During the same period in the previous year, the company earned $0.93 earnings per share. On average, equities analysts forecast that Nordstrom will post $2.73 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, September 13th. Stockholders of record on Monday, August 29th were paid a $0.37 dividend. The ex-dividend date was Thursday, August 25th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 2.87%. Nordstrom’s dividend payout ratio (DPR) is presently 62.98%.
In other news, insider Daniel F. Little sold 5,270 shares of the company’s stock in a transaction dated 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 directly owns 68,088 shares of the company’s stock, valued at approximately $3,540,576. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 7.03% of the stock is owned by insiders.
Hedge funds have recently made changes to their positions in the stock. Norges Bank bought a new stake in shares of Nordstrom during the fourth quarter worth approximately $83,978,000. Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its stake in shares of Nordstrom by 14.0% in the first quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 32,818 shares of the company’s stock worth $1,878,000 after buying an additional 4,033 shares during the period. Capstone Asset Management Co. boosted its stake in shares of Nordstrom by 19.5% in the first quarter. Capstone Asset Management Co. now owns 29,653 shares of the company’s stock worth $1,696,000 after buying an additional 4,830 shares during the period. Exxonmobil Investment Management Inc. TX boosted its stake in shares of Nordstrom by 2.5% in the first quarter. Exxonmobil Investment Management Inc. TX now owns 31,260 shares of the company’s stock worth $1,788,000 after buying an additional 763 shares during the period. Finally, Buffington Mohr McNeal bought a new stake in shares of Nordstrom during the first quarter worth approximately $251,000. 65.48% of the stock is owned by institutional investors.
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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