Nordstrom Inc. (JWN) Research Coverage Started at Guggenheim
Investment analysts at Guggenheim began coverage on shares of Nordstrom Inc. (NYSE:JWN) in a research note issued to investors on Friday. The brokerage set a “buy” rating on the stock.
Other research analysts have also issued research reports about the company. Credit Suisse Group AG restated a “hold” rating and set a $40.00 price objective on shares of Nordstrom in a research report on Friday, August 12th. Piper Jaffray Cos. restated a “neutral” rating and set a $45.00 price objective on shares of Nordstrom in a research report on Monday, July 11th. Royal Bank Of Canada increased their price target on shares of Nordstrom from $38.00 to $47.00 and gave the company a “sector perform” rating in a report on Monday, August 15th. Vetr downgraded shares of Nordstrom from a “buy” rating to a “hold” rating and set a $43.19 price target for the company. in a report on Wednesday, July 13th. Finally, Maxim Group assumed coverage on shares of Nordstrom in a research note on Wednesday, June 15th. They issued a “buy” rating and a $50.00 price objective for the company. 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. Nordstrom has a consensus rating of “Hold” and a consensus target price of $47.13.
Nordstrom (NYSE:JWN) opened at 51.48 on Friday. The company’s 50-day moving average price is $51.17 and its 200-day moving average price is $46.70. Nordstrom has a one year low of $35.01 and a one year high of $75.67. The stock has a market cap of $8.93 billion, a P/E ratio of 21.93 and a beta of 0.93.
Nordstrom (NYSE:JWN) last issued its quarterly earnings results on Thursday, August 11th. The company reported $0.67 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.56 by $0.11. Nordstrom had a return on equity of 47.22% and a net margin of 2.95%. The business earned $3.65 billion during the quarter, compared to analyst estimates of $3.67 billion. During the same quarter in the prior year, the business posted $0.93 EPS. Nordstrom’s revenue for the quarter was down .2% compared to the same quarter last year. Analysts forecast that Nordstrom will post $2.73 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, September 13th. Investors of record on Monday, August 29th were given a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 2.87%. The ex-dividend date of this dividend was Thursday, August 25th. Nordstrom’s dividend payout ratio (DPR) is 62.98%.
In related news, insider Daniel F. Little sold 5,270 shares of the stock in a transaction on Friday, September 23rd. The shares were sold at an average price of $52.00, for a total value of $274,040.00. Following the transaction, the insider now directly owns 68,088 shares of the company’s stock, valued at approximately $3,540,576. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 7.03% of the stock is currently owned by corporate insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of JWN. M&T Bank Corp increased its position in Nordstrom by 2.3% in the first quarter. M&T Bank Corp now owns 196,241 shares of the company’s stock worth $11,227,000 after buying an additional 4,500 shares during the period. Royce & Associates LP increased its position in Nordstrom by 0.6% in the first quarter. Royce & Associates LP now owns 171,000 shares of the company’s stock worth $9,783,000 after buying an additional 1,000 shares during the period. Landscape Capital Management L.L.C. bought a new position in Nordstrom during the first quarter worth approximately $3,771,000. NN Investment Partners Holdings N.V. bought a new position in Nordstrom during the first quarter worth approximately $884,000. Finally, Peapack Gladstone Financial Corp bought a new position in Nordstrom during the first quarter worth approximately $202,000. 65.48% of the stock is currently 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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