Nordstrom Inc. (NYSE:JWN) Receives $47.58 Consensus PT from Analysts
Nordstrom Inc. (NYSE:JWN) has been assigned a consensus recommendation of “Hold” from the thirty-three analysts that are currently covering the company. Seven research analysts have rated the stock with a sell recommendation, eighteen have assigned a hold recommendation and eight have issued a buy recommendation on the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $47.19.
Several brokerages have commented on JWN. Guggenheim began coverage on shares of Nordstrom in a report on Friday. They issued a “buy” rating for the company. Stifel Nicolaus set a $58.00 price objective on shares of Nordstrom and gave the stock a “buy” rating in a report on Thursday, September 22nd. Vetr lowered shares of Nordstrom from a “sell” rating to a “strong sell” rating and set a $46.00 price objective for the company. in a report on Tuesday, September 6th. Cowen and Company restated an “outperform” rating and issued a $55.00 price objective on shares of Nordstrom in a report on Monday, August 29th. Finally, RBC Capital Markets restated a “sector perform” rating and issued a $47.00 price objective (up from $38.00) on shares of Nordstrom in a report on Monday, August 15th.
In other news, insider Daniel F. Little sold 5,270 shares of Nordstrom stock in a transaction that occurred on Friday, September 23rd. The shares were sold at an average price of $52.00, for a total transaction of $274,040.00. Following the sale, the insider now owns 68,088 shares in the company, valued at $3,540,576. The transaction was disclosed in a document filed with the SEC, which is available at this link. Insiders own 7.03% of the company’s stock.
Several large investors have recently added to or reduced their stakes in the stock. Fjarde AP Fonden Fourth Swedish National Pension Fund raised its position in 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. raised its position in 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 raised its position in 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. Nisa Investment Advisors L.L.C. raised its position in Nordstrom by 2.5% in the first quarter. Nisa Investment Advisors L.L.C. now owns 45,668 shares of the company’s stock worth $2,613,000 after buying an additional 1,100 shares during the period. Finally, Dubuque Bank & Trust Co. raised its position in Nordstrom by 81.0% in the first quarter. Dubuque Bank & Trust Co. now owns 77,858 shares of the company’s stock worth $4,454,000 after buying an additional 34,850 shares during the period. Hedge funds and other institutional investors own 65.48% of the company’s stock.
Nordstrom (NYSE:JWN) opened at 51.88 on Wednesday. The company’s 50 day moving average is $51.30 and its 200-day moving average is $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 $9.00 billion, a price-to-earnings ratio of 22.10 and a beta of 0.93.
Nordstrom (NYSE:JWN) last posted its quarterly earnings results on Thursday, August 11th. The company reported $0.67 EPS for the quarter, beating the Zacks’ consensus estimate of $0.56 by $0.11. Nordstrom had a net margin of 2.95% and a return on equity of 47.22%. The company earned $3.65 billion during the quarter, compared to analyst estimates of $3.67 billion. During the same period in the prior year, the business posted $0.93 EPS. The firm’s revenue was down .2% compared to the same quarter last year. Equities analysts anticipate that Nordstrom will post $2.73 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 13th. Stockholders of record on Monday, August 29th were given a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 2.85%. The ex-dividend date was Thursday, August 25th. Nordstrom’s payout ratio is currently 62.98%.
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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