Nordstrom, Inc. (NYSE:JWN) shares gapped down before the market opened on Monday . The stock had previously closed at $47.07, but opened at $46.10. Nordstrom shares last traded at $44.72, with a volume of 5,101,426 shares.
A number of research analysts recently weighed in on the company. UBS AG downgraded Nordstrom from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $51.00 to $46.00 in a research note on Friday, June 9th. Vetr downgraded Nordstrom from a “sell” rating to a “strong sell” rating and set a $41.54 price target on the stock. in a research note on Wednesday, July 5th. Northcoast Research reaffirmed a “neutral” rating on shares of Nordstrom in a research note on Tuesday, May 16th. Robert W. Baird set a $50.00 price objective on Nordstrom and gave the stock a “hold” rating in a report on Saturday, August 12th. Finally, Guggenheim reissued a “neutral” rating on shares of Nordstrom in a report on Friday, June 9th. Four analysts have rated the stock with a sell rating, seventeen have issued a hold rating and eight have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $48.10.
The company’s 50-day moving average is $46.03 and its 200-day moving average is $45.62. The stock has a market cap of $7.43 billion, a price-to-earnings ratio of 21.18 and a beta of 0.82.
Nordstrom (NYSE:JWN) last posted its earnings results on Thursday, August 10th. The specialty retailer reported $0.65 EPS for the quarter, topping analysts’ consensus estimates of $0.62 by $0.03. Nordstrom had a net margin of 2.44% and a return on equity of 71.57%. The business had revenue of $3.72 billion during the quarter, compared to the consensus estimate of $3.70 billion. During the same quarter in the previous year, the firm posted $0.67 EPS. The firm’s revenue was up 3.5% on a year-over-year basis. Analysts expect that Nordstrom, Inc. will post $2.97 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 12th. Shareholders of record on Monday, August 28th will be given a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 3.31%. The ex-dividend date of this dividend is Thursday, August 24th. Nordstrom’s dividend payout ratio (DPR) is presently 70.14%.
Large investors have recently bought and sold shares of the business. Parallel Advisors LLC grew its position in Nordstrom by 12.7% in the 1st quarter. Parallel Advisors LLC now owns 2,099 shares of the specialty retailer’s stock worth $104,000 after purchasing an additional 236 shares during the period. Gemmer Asset Management LLC grew its position in shares of Nordstrom by 0.8% during the 2nd quarter. Gemmer Asset Management LLC now owns 2,270 shares of the specialty retailer’s stock valued at $109,000 after acquiring an additional 18 shares during the period. NEXT Financial Group Inc grew its position in shares of Nordstrom by 55.4% during the 2nd quarter. NEXT Financial Group Inc now owns 2,642 shares of the specialty retailer’s stock valued at $126,000 after acquiring an additional 942 shares during the period. Ameritas Investment Partners Inc. grew its position in shares of Nordstrom by 6,460.5% during the 1st quarter. Ameritas Investment Partners Inc. now owns 2,821 shares of the specialty retailer’s stock valued at $131,000 after acquiring an additional 2,778 shares during the period. Finally, Mosaic Family Wealth LLC grew its position in shares of Nordstrom by 3.8% during the 1st quarter. Mosaic Family Wealth LLC now owns 2,953 shares of the specialty retailer’s stock valued at $138,000 after acquiring an additional 109 shares during the period. 63.71% of the stock is owned by institutional investors and hedge funds.
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.
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