Nordstrom, Inc. (JWN) PT Set at $45.00 by Royal Bank Of Canada

Nordstrom, Inc. (NYSE:JWN) received a $45.00 target price from research analysts at Royal Bank Of Canada in a research report issued on Monday, June 19th. The brokerage currently has a “hold” rating on the specialty retailer’s stock. Royal Bank Of Canada’s price target indicates a potential downside of 3.12% from the stock’s current price.

Several other analysts also recently commented on JWN. BMO Capital Markets set a $48.00 price objective on Nordstrom and gave the stock a “hold” rating in a research note on Saturday, May 13th. Piper Jaffray Companies set a $42.00 price objective on Nordstrom and gave the stock a “hold” rating in a research note on Saturday, May 13th. Robert W. Baird set a $50.00 price objective on Nordstrom and gave the stock a “hold” rating in a research note on Saturday, May 13th. Vetr raised Nordstrom from a “sell” rating to a “hold” rating and set a $43.78 target price for the company in a report on Monday, February 27th. Finally, Guggenheim reaffirmed a “neutral” rating on shares of Nordstrom in a report on Friday, June 9th. Five equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating and five have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $47.28.

Shares of Nordstrom (NYSE:JWN) opened at 46.45 on Monday. The company has a market cap of $7.71 billion, a PE ratio of 21.75 and a beta of 0.83. The company has a 50 day moving average price of $44.16 and a 200 day moving average price of $45.73. Nordstrom has a 52 week low of $39.05 and a 52 week high of $62.82.

The company also recently declared a quarterly dividend, which was paid on Monday, June 12th. Shareholders of record on Friday, May 26th were given a dividend of $0.37 per share. The ex-dividend date of this dividend was Wednesday, May 24th. This represents a $1.48 dividend on an annualized basis and a yield of 3.19%. Nordstrom’s payout ratio is 69.48%.

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Large investors have recently added to or reduced their stakes in the stock. Confluence Investment Management LLC increased its stake in Nordstrom by 7.0% in the second quarter. Confluence Investment Management LLC now owns 235,527 shares of the specialty retailer’s stock worth $11,265,000 after buying an additional 15,477 shares during the last quarter. Fulton Bank N.A. purchased a new stake in Nordstrom during the second quarter worth $207,000. Boltwood Capital Management increased its stake in Nordstrom by 2.0% in the second quarter. Boltwood Capital Management now owns 20,030 shares of the specialty retailer’s stock worth $958,000 after buying an additional 400 shares during the last quarter. Centre Asset Management LLC increased its stake in Nordstrom by 16.8% in the second quarter. Centre Asset Management LLC now owns 98,610 shares of the specialty retailer’s stock worth $4,717,000 after buying an additional 14,210 shares during the last quarter. Finally, Xact Kapitalforvaltning AB increased its stake in Nordstrom by 3.0% in the second quarter. Xact Kapitalforvaltning AB now owns 22,718 shares of the specialty retailer’s stock worth $1,087,000 after buying an additional 670 shares during the last quarter. Institutional investors and hedge funds own 68.37% of the company’s stock.

Nordstrom Company Profile

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.

Analyst Recommendations for Nordstrom (NYSE:JWN)

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