Nordstrom, Inc. (NYSE:JWN)’s share price dropped 5.3% on Monday . The stock traded as low as $39.63 and last traded at $40.40. Approximately 10,612,325 shares traded hands during mid-day trading, an increase of 383% from the average daily volume of 2,195,490 shares. The stock had previously closed at $42.65.

JWN has been the topic of several research analyst reports. Zacks Investment Research raised Nordstrom from a “hold” rating to a “buy” rating and set a $53.00 price objective on the stock in a research note on Thursday, August 10th. Cowen and Company reiterated an “outperform” rating and set a $53.00 target price (up from $49.00) on shares of Nordstrom in a report on Wednesday, September 13th. KeyCorp set a $55.00 target price on Nordstrom and gave the company a “buy” rating in a report on Wednesday, October 11th. Vetr downgraded Nordstrom from a “sell” rating to a “strong sell” rating and set a $41.54 target price on the stock. in a report on Wednesday, July 5th. Finally, BidaskClub downgraded Nordstrom from a “buy” rating to a “hold” rating in a report on Saturday, August 12th. Four research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and eight have assigned a buy rating to the company. Nordstrom currently has an average rating of “Hold” and a consensus target price of $47.77.

The stock has a market cap of $6.89 billion, a P/E ratio of 19.64 and a beta of 0.85. The company has a 50 day moving average price of $45.50 and a 200-day moving average price of $45.81.

Nordstrom (NYSE:JWN) last released its quarterly earnings results on Thursday, August 10th. The specialty retailer reported $0.65 EPS for the quarter, topping the Zacks’ consensus estimate of $0.62 by $0.03. The business had revenue of $3.72 billion for the quarter, compared to analyst estimates of $3.70 billion. Nordstrom had a return on equity of 71.57% and a net margin of 2.44%. Nordstrom’s revenue for the quarter was up 3.5% on a year-over-year basis. During the same period in the prior year, the company earned $0.67 EPS. On average, analysts forecast that Nordstrom, Inc. will post $2.98 earnings per share for the current fiscal year.

A number of institutional investors and hedge funds have recently made changes to their positions in JWN. Ameritas Investment Partners Inc. boosted its position in Nordstrom by 6,460.5% in the 1st quarter. Ameritas Investment Partners Inc. now owns 2,821 shares of the specialty retailer’s stock valued at $131,000 after buying an additional 2,778 shares during the last quarter. OppenheimerFunds Inc. boosted its position in shares of Nordstrom by 40.1% in the 1st quarter. OppenheimerFunds Inc. now owns 42,215 shares of the specialty retailer’s stock worth $1,966,000 after purchasing an additional 12,085 shares during the last quarter. Teachers Advisors LLC boosted its position in shares of Nordstrom by 23.6% in the 1st quarter. Teachers Advisors LLC now owns 204,754 shares of the specialty retailer’s stock worth $9,535,000 after purchasing an additional 39,100 shares during the last quarter. Global X Management Co. LLC boosted its position in shares of Nordstrom by 32.4% in the 1st quarter. Global X Management Co. LLC now owns 6,528 shares of the specialty retailer’s stock worth $304,000 after purchasing an additional 1,598 shares during the last quarter. Finally, Geode Capital Management LLC boosted its position in shares of Nordstrom by 5.6% in the 1st quarter. Geode Capital Management LLC now owns 1,082,204 shares of the specialty retailer’s stock worth $50,324,000 after purchasing an additional 57,018 shares during the last quarter. Hedge funds and other institutional investors own 63.00% of the company’s stock.

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About Nordstrom

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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