Nordstrom, Inc. (JWN) Shares Gap Up to $39.97

Shares of Nordstrom, Inc. (NYSE:JWN) gapped up before the market opened on Friday . The stock had previously closed at $39.08, but opened at $39.97. Nordstrom shares last traded at $40.86, with a volume of 2346283 shares changing hands.

JWN has been the topic of a number of research analyst reports. KeyCorp set a $55.00 price target on shares of Nordstrom and gave the company a “buy” rating in a research report on Wednesday, October 11th. Robert W. Baird reaffirmed a “hold” rating and set a $50.00 price target on shares of Nordstrom in a research report on Wednesday, November 1st. ValuEngine cut shares of Nordstrom from a “buy” rating to a “hold” rating in a research report on Friday, September 1st. Royal Bank Of Canada reaffirmed a “hold” rating and set a $45.00 price target on shares of Nordstrom in a research report on Thursday, October 5th. Finally, Zacks Investment Research cut shares of Nordstrom from a “hold” rating to a “sell” rating in a research report on Tuesday, October 31st. Five investment analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and seven have given a buy rating to the company’s stock. Nordstrom currently has a consensus rating of “Hold” and an average target price of $45.33.

The company has a debt-to-equity ratio of 3.14, a current ratio of 1.00 and a quick ratio of 0.30. The stock has a market cap of $6,807.28, a P/E ratio of 13.10, a PEG ratio of 2.31 and a beta of 0.84.

Nordstrom (NYSE:JWN) last released its quarterly earnings data on Thursday, November 9th. The specialty retailer reported $0.67 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.63 by $0.04. The company had revenue of $3.54 billion during the quarter, compared to the consensus estimate of $3.50 billion. Nordstrom had a net margin of 3.25% and a return on equity of 67.44%. Nordstrom’s revenue for the quarter was up 2.0% on a year-over-year basis. During the same period last year, the firm earned $0.84 EPS. research analysts predict that Nordstrom, Inc. will post 2.95 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 12th. Investors of record on Monday, November 27th will be issued a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 3.62%. The ex-dividend date is Friday, November 24th. Nordstrom’s dividend payout ratio (DPR) is presently 52.11%.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Global X Management Co. LLC boosted its holdings in Nordstrom by 0.9% in the 2nd quarter. Global X Management Co. LLC now owns 6,587 shares of the specialty retailer’s stock worth $315,000 after buying an additional 59 shares during the period. FineMark National Bank & Trust boosted its holdings in Nordstrom by 2.1% in the 2nd quarter. FineMark National Bank & Trust now owns 6,156 shares of the specialty retailer’s stock worth $294,000 after buying an additional 128 shares during the period. State of Alaska Department of Revenue boosted its holdings in Nordstrom by 1.5% in the 2nd quarter. State of Alaska Department of Revenue now owns 9,520 shares of the specialty retailer’s stock worth $455,000 after buying an additional 140 shares during the period. Synovus Financial Corp boosted its holdings in Nordstrom by 1.7% in the 2nd quarter. Synovus Financial Corp now owns 8,760 shares of the specialty retailer’s stock worth $423,000 after buying an additional 143 shares during the period. Finally, Millie Capital Management LLC boosted its holdings in Nordstrom by 0.5% in the 2nd quarter. Millie Capital Management LLC now owns 43,820 shares of the specialty retailer’s stock worth $2,096,000 after buying an additional 204 shares during the period. 62.35% of the stock is owned by institutional investors.

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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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