Nordstrom (JWN) Sets New 52-Week Low at $42.54

Nordstrom, Inc. (NYSE:JWN) hit a new 52-week low on Thursday . The company traded as low as $42.54 and last traded at $43.27, with a volume of 82091 shares trading hands. The stock had previously closed at $43.45.

Several equities research analysts have recently commented on JWN shares. Zacks Investment Research restated a “buy” rating and set a $52.00 price target on shares of Nordstrom in a research note on Monday, December 31st. TheStreet cut Nordstrom from a “b-” rating to a “c+” rating in a research note on Tuesday, January 8th. Morgan Stanley upgraded Nordstrom from an “underweight” rating to an “equal weight” rating and set a $48.40 price target for the company in a research note on Tuesday, January 8th. ValuEngine upgraded Nordstrom from a “sell” rating to a “hold” rating in a research note on Wednesday, January 2nd. Finally, Nomura set a $53.00 price target on Nordstrom and gave the stock a “hold” rating in a research note on Monday, November 26th. Four research analysts have rated the stock with a sell rating, twelve have issued a hold rating and five have given a buy rating to the stock. Nordstrom presently has an average rating of “Hold” and a consensus price target of $52.08.

The company has a quick ratio of 0.41, a current ratio of 1.00 and a debt-to-equity ratio of 3.07. The firm has a market cap of $6.91 billion, a price-to-earnings ratio of 12.33, a price-to-earnings-growth ratio of 1.97 and a beta of 0.54.

Nordstrom (NYSE:JWN) last posted its earnings results on Thursday, February 28th. The specialty retailer reported $1.48 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.42 by $0.06. Nordstrom had a return on equity of 57.14% and a net margin of 3.56%. During the same period last year, the business earned $1.20 EPS. On average, research analysts anticipate that Nordstrom, Inc. will post 3.76 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 26th. Shareholders of record on Monday, March 11th will be issued a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 3.38%. The ex-dividend date of this dividend is Friday, March 8th. Nordstrom’s dividend payout ratio (DPR) is 41.69%.

In related news, insider Erik B. Nordstrom sold 1,169 shares of the stock in a transaction on Monday, February 25th. The stock was sold at an average price of $44.70, for a total transaction of $52,254.30. Following the sale, the insider now owns 2,671,406 shares of the company’s stock, valued at $119,411,848.20. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Erik B. Nordstrom sold 17,762 shares of the stock in a transaction on Monday, March 11th. The shares were sold at an average price of $44.07, for a total value of $782,771.34. Following the sale, the insider now directly owns 2,653,314 shares in the company, valued at approximately $116,931,547.98. The disclosure for this sale can be found here. 7.05% of the stock is currently owned by corporate insiders.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Empowered Funds LLC acquired a new stake in shares of Nordstrom during the fourth quarter valued at $1,084,000. Korea Investment CORP boosted its stake in shares of Nordstrom by 60.8% during the third quarter. Korea Investment CORP now owns 158,466 shares of the specialty retailer’s stock valued at $9,478,000 after acquiring an additional 59,900 shares during the last quarter. Ibex Investors LLC acquired a new stake in shares of Nordstrom during the third quarter valued at $202,000. White Pine Capital LLC boosted its stake in shares of Nordstrom by 5.7% during the fourth quarter. White Pine Capital LLC now owns 18,630 shares of the specialty retailer’s stock valued at $868,000 after acquiring an additional 1,000 shares during the last quarter. Finally, Standard Life Aberdeen plc boosted its stake in shares of Nordstrom by 46.9% during the third quarter. Standard Life Aberdeen plc now owns 77,831 shares of the specialty retailer’s stock valued at $4,655,000 after acquiring an additional 24,859 shares during the last quarter. 60.31% of the stock is currently owned by institutional investors and hedge funds.

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Nordstrom Company Profile (NYSE:JWN)

Nordstrom, Inc, a fashion retailer, provides apparel, shoes, cosmetics, and accessories for women, men, young adults, and children. The company operates in two segments, Retail and Credit. The Retail segment offers a range of brand name and private label merchandise through various channels, including Nordstrom branded full-line stores and online store at Nordstrom.com; Nordstrom Rack stores; Nordstromrack.com and HauteLook; Trunk Club clubhouses and TrunkClub.com; Jeffrey boutiques; and clearance stores that operate under the Last Chance name.

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