Nordstrom, Inc. (JWN) Trading Down 6.3%
Shares of Nordstrom, Inc. (NYSE:JWN) fell 6.3% during mid-day trading on Monday . The company traded as low as $43.50 and last traded at $44.18. 7,688,733 shares were traded during trading, an increase of 267% from the average session volume of 2,096,070 shares. The stock had previously closed at $47.15.
Several analysts recently commented on the stock. UBS AG downgraded shares of Nordstrom from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $51.00 to $46.00 in a report on Friday, June 9th. Vetr cut shares of Nordstrom from a “sell” rating to a “strong sell” rating and set a $41.54 price target on the stock. in a report on Wednesday, July 5th. Robert W. Baird set a $50.00 price target on shares of Nordstrom and gave the company a “hold” rating in a report on Saturday, August 12th. Guggenheim restated a “neutral” rating on shares of Nordstrom in a research report on Friday, June 9th. Finally, Zacks Investment Research upgraded shares of Nordstrom from a “hold” rating to a “buy” rating and set a $53.00 price objective for the company in a research report on Thursday, August 10th. Four investment analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and eight have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $47.77.
The company has a 50-day moving average price of $45.71 and a 200-day moving average price of $45.76. The company has a market capitalization of $7.34 billion, a PE ratio of 20.93 and a beta of 0.85.
Nordstrom (NYSE:JWN) last issued its quarterly earnings data on Thursday, August 10th. The specialty retailer reported $0.65 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.62 by $0.03. Nordstrom had a return on equity of 71.57% and a net margin of 2.44%. The company had revenue of $3.72 billion for the quarter, compared to the consensus estimate of $3.70 billion. During the same quarter last year, the business posted $0.67 earnings per share. The firm’s revenue was up 3.5% compared to the same quarter last year. Equities analysts forecast that Nordstrom, Inc. will post $2.98 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 12th. Investors of record on Monday, August 28th were given a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 3.35%. The ex-dividend date of this dividend was Thursday, August 24th. Nordstrom’s payout ratio is 70.14%.
Several large investors have recently added to or reduced their stakes in the business. Flippin Bruce & Porter Inc. boosted its position in shares of Nordstrom by 46.2% during the 2nd quarter. Flippin Bruce & Porter Inc. now owns 112,227 shares of the specialty retailer’s stock valued at $5,368,000 after acquiring an additional 35,467 shares during the last quarter. Twin Capital Management Inc. increased its position in shares of Nordstrom by 17.4% in the second quarter. Twin Capital Management Inc. now owns 31,360 shares of the specialty retailer’s stock worth $1,500,000 after purchasing an additional 4,650 shares during the last quarter. Boston Private Wealth LLC bought a new position in shares of Nordstrom in the first quarter worth approximately $492,000. Principal Financial Group Inc. increased its position in shares of Nordstrom by 168.7% in the second quarter. Principal Financial Group Inc. now owns 1,831,138 shares of the specialty retailer’s stock worth $87,584,000 after purchasing an additional 1,149,685 shares during the last quarter. Finally, Scopus Asset Management L.P. increased its position in shares of Nordstrom by 50.0% in the first quarter. Scopus Asset Management L.P. now owns 600,000 shares of the specialty retailer’s stock worth $27,942,000 after purchasing an additional 200,000 shares during the last quarter. 63.14% of the stock is currently owned by hedge funds and other institutional investors.
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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