Nordstrom, Inc. (JWN) Coverage Initiated by Analysts at Gordon Haskett
Gordon Haskett began coverage on shares of Nordstrom, Inc. (NYSE:JWN) in a research note released on Tuesday, May 9th. The firm issued an accumulate rating and a $54.00 price objective on the specialty retailer’s stock.
Several other equities research analysts also recently weighed in on JWN. Zacks Investment Research downgraded shares of Nordstrom from a buy rating to a hold rating in a research report on Monday, January 9th. Vetr downgraded shares of Nordstrom from a strong-buy rating to a buy rating and set a $50.90 target price for the company. in a research report on Wednesday, January 11th. Stifel Nicolaus downgraded shares of Nordstrom from a buy rating to a hold rating and lowered their price objective for the company from $62.00 to $40.00 in a research report on Tuesday, January 17th. Credit Suisse Group AG raised shares of Nordstrom from a neutral rating to an outperform rating and set a $58.00 price objective for the company in a research report on Wednesday, January 18th. Finally, Goldman Sachs Group Inc downgraded shares of Nordstrom from a neutral rating to a sell rating and set a $35.00 price objective for the company. in a research report on Thursday, February 2nd. Five research analysts have rated the stock with a sell rating, sixteen have given a hold rating and eight have given a buy rating to the company. Nordstrom currently has an average rating of Hold and an average target price of $47.25.
Shares of Nordstrom (NYSE:JWN) traded down 0.49% on Tuesday, hitting $40.46. The stock had a trading volume of 1,173,059 shares. The firm has a market cap of $6.72 billion, a price-to-earnings ratio of 18.94 and a beta of 1.01. Nordstrom has a 12-month low of $35.01 and a 12-month high of $62.82. The stock has a 50 day moving average of $46.19 and a 200 day moving average of $48.15.
Nordstrom (NYSE:JWN) last released its earnings results on Thursday, February 23rd. The specialty retailer reported $1.37 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.15 by $0.22. The company had revenue of $4.24 billion during the quarter, compared to the consensus estimate of $4.36 billion. Nordstrom had a net margin of 2.28% and a return on equity of 58.85%. The company’s revenue was up 2.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.17 EPS. Equities analysts predict that Nordstrom will post $2.95 earnings per share for the current fiscal year.
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The firm also recently declared a quarterly dividend, which will be paid on Monday, June 12th. Stockholders of record on Friday, May 26th will be paid a dividend of $0.37 per share. The ex-dividend date is Wednesday, May 24th. This represents a $1.48 annualized dividend and a dividend yield of 3.64%. Nordstrom’s dividend payout ratio (DPR) is 79.14%.
In other news, President Blake W. Nordstrom sold 1,558 shares of the stock in a transaction on Monday, February 27th. The shares were sold at an average price of $47.50, for a total transaction of $74,005.00. Following the transaction, the president now owns 2,115,346 shares in the company, valued at approximately $100,478,935. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, President Blake W. Nordstrom sold 1,905 shares of the stock in a transaction on Monday, March 6th. The stock was sold at an average price of $45.08, for a total transaction of $85,877.40. Following the transaction, the president now owns 2,142,492 shares in the company, valued at approximately $96,583,539.36. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 19,333 shares of company stock worth $888,010. 7.03% of the stock is currently owned by company insiders.
Several hedge funds have recently bought and sold shares of the company. BlackRock Inc. increased its stake in Nordstrom by 2,321.7% in the first quarter. BlackRock Inc. now owns 8,021,009 shares of the specialty retailer’s stock valued at $373,537,000 after buying an additional 7,689,800 shares in the last quarter. Skandinaviska Enskilda Banken AB publ increased its stake in Nordstrom by 20,761.0% in the third quarter. Skandinaviska Enskilda Banken AB publ now owns 2,731,326 shares of the specialty retailer’s stock valued at $141,701,000 after buying an additional 2,718,233 shares in the last quarter. Norges Bank purchased a new stake in Nordstrom during the fourth quarter valued at about $108,878,000. Bank of New York Mellon Corp increased its stake in Nordstrom by 20.9% in the first quarter. Bank of New York Mellon Corp now owns 7,896,754 shares of the specialty retailer’s stock valued at $367,753,000 after buying an additional 1,364,328 shares in the last quarter. Finally, Smith Asset Management Group LP purchased a new stake in Nordstrom during the third quarter valued at about $62,974,000. 66.03% of the stock is owned by institutional investors and hedge funds.
Nordstrom, Inc is a fashion specialty retailer in the United States. The Company’s segments include Retail and Credit. As of March 20, 2017, the Company operated 344 the United States stores located in 40 states as well as an e-commerce business. The Company also offers its customers a variety of payment products and services, including credit and debit cards.
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