Nordstrom Inc. (JWN) Stock Rating Reaffirmed by Cowen and Company
Nordstrom Inc. (NYSE:JWN)‘s stock had its “outperform” rating reissued by Cowen and Company in a report issued on Wednesday. They currently have a $55.00 price objective on the stock. Cowen and Company’s price target would suggest a potential downside of 2.40% from the stock’s current price.
Several other equities research analysts have also recently commented on JWN. Vetr cut Nordstrom from a “buy” rating to a “hold” rating and set a $45.38 price target for the company. in a report on Monday, August 8th. Piper Jaffray Cos. reaffirmed an “overweight” rating and issued a $56.00 price target (up previously from $53.00) on shares of Nordstrom in a report on Wednesday, August 10th. Telsey Advisory Group increased their price target on Nordstrom from $40.00 to $53.00 and gave the company a “market perform” rating in a report on Friday, August 12th. Stifel Nicolaus increased their price target on Nordstrom from $44.00 to $58.00 and gave the company a “buy” rating in a report on Friday, August 12th. Finally, Credit Suisse Group AG reaffirmed a “hold” rating and issued a $40.00 price target on shares of Nordstrom in a report on Friday, August 12th. Seven analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and eight have assigned a buy rating to the stock. Nordstrom presently has an average rating of “Hold” and an average price target of $48.84.
Nordstrom (NYSE:JWN) opened at 56.35 on Wednesday. The stock has a market cap of $9.76 billion, a PE ratio of 29.99 and a beta of 1.02. Nordstrom has a one year low of $35.01 and a one year high of $62.82. The stock has a 50 day moving average price of $54.65 and a 200-day moving average price of $46.96.
Nordstrom (NYSE:JWN) last posted its quarterly earnings results on Thursday, November 10th. The company reported $0.84 EPS for the quarter, beating the consensus estimate of $0.52 by $0.32. Nordstrom had a return on equity of 58.85% and a net margin of 2.28%. The firm earned $3.47 billion during the quarter, compared to analysts’ expectations of $3.49 billion. During the same quarter last year, the firm earned $0.57 earnings per share. The business’s revenue for the quarter was up 7.2% on a year-over-year basis. Equities research analysts expect that Nordstrom will post $2.96 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 13th. Shareholders of record on Monday, November 28th will be issued a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 2.63%. The ex-dividend date of this dividend is Wednesday, November 23rd. Nordstrom’s dividend payout ratio is presently 79.14%.
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In other Nordstrom news, President Blake W. Nordstrom sold 42,847 shares of Nordstrom stock in a transaction that occurred on Monday, November 14th. The stock was sold at an average price of $60.00, for a total value of $2,570,820.00. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Daniel F. Little sold 5,270 shares of Nordstrom stock in a transaction that occurred on Thursday, October 6th. The shares were sold at an average price of $54.00, for a total value of $284,580.00. Following the completion of the sale, the insider now directly owns 68,216 shares in the company, valued at approximately $3,683,664. The disclosure for this sale can be found here. 7.03% of the stock is owned by company insiders.
Large investors have recently made changes to their positions in the stock. Pacer Advisors Inc. raised its stake in shares of Nordstrom by 5.6% in the second quarter. Pacer Advisors Inc. now owns 2,632 shares of the company’s stock worth $100,000 after buying an additional 140 shares in the last quarter. Evercore Wealth Management LLC raised its stake in shares of Nordstrom by 9.1% in the second quarter. Evercore Wealth Management LLC now owns 2,779 shares of the company’s stock worth $106,000 after buying an additional 231 shares in the last quarter. WFG Advisors LP raised its stake in shares of Nordstrom by 51.7% in the second quarter. WFG Advisors LP now owns 2,906 shares of the company’s stock worth $111,000 after buying an additional 991 shares in the last quarter. Blue Chip Partners Inc. purchased a new stake in shares of Nordstrom during the second quarter valued at approximately $114,000. Finally, Gemmer Asset Management LLC raised its stake in shares of Nordstrom by 1.2% in the third quarter. Gemmer Asset Management LLC now owns 2,219 shares of the company’s stock valued at $115,000 after buying an additional 26 shares during the period. 66.18% of the stock is currently 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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