Nordstrom (NYSE:JWN) Shares Gap Down to $26.02

Nordstrom, Inc. (NYSE:JWN)’s stock price gapped down prior to trading on Thursday . The stock had previously closed at $24.31, but opened at $26.02. Nordstrom shares last traded at $25.12, with a volume of 175,440 shares trading hands.

Several analysts recently weighed in on the stock. Citigroup reduced their target price on shares of Nordstrom from $48.00 to $37.00 and set a “neutral” rating on the stock in a report on Wednesday, May 22nd. Credit Suisse Group reduced their target price on shares of Nordstrom from $40.00 to $36.00 and set a “neutral” rating on the stock in a report on Wednesday, May 22nd. Piper Jaffray Companies reduced their target price on shares of Nordstrom from $40.00 to $33.00 and set a “neutral” rating on the stock in a report on Wednesday, May 22nd. Gordon Haskett raised shares of Nordstrom from a “reduce” rating to a “hold” rating and set a $33.71 target price on the stock in a report on Thursday, June 20th. Finally, Robert W. Baird reduced their target price on shares of Nordstrom from $45.00 to $38.00 and set a “neutral” rating on the stock in a report on Wednesday, May 22nd. Five research analysts have rated the stock with a sell rating, fourteen have given a hold rating and two have given a buy rating to the stock. Nordstrom has an average rating of “Hold” and an average price target of $39.56.

The company has a quick ratio of 0.24, a current ratio of 0.76 and a debt-to-equity ratio of 6.34. The business’s fifty day simple moving average is $30.40 and its two-hundred day simple moving average is $38.08. The company has a market cap of $4.42 billion, a price-to-earnings ratio of 7.14, a PEG ratio of 1.44 and a beta of 0.66.

Nordstrom (NYSE:JWN) last released its quarterly earnings data on Tuesday, May 21st. The specialty retailer reported $0.23 earnings per share for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.20). Nordstrom had a return on equity of 58.16% and a net margin of 3.27%. The company had revenue of $3.44 billion for the quarter, compared to analyst estimates of $3.54 billion. During the same period in the previous year, the business posted $0.51 EPS. Sell-side analysts predict that Nordstrom, Inc. will post 3.31 EPS for the current fiscal year.

In other news, insider Peter E. Nordstrom sold 3,380 shares of the firm’s stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $32.46, for a total transaction of $109,714.80. Following the transaction, the insider now directly owns 2,530,989 shares in the company, valued at $82,155,902.94. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Christine Deputy sold 4,812 shares of the firm’s stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of $32.59, for a total transaction of $156,823.08. Following the transaction, the insider now owns 60,056 shares in the company, valued at $1,957,225.04. The disclosure for this sale can be found here. 5.21% of the stock is currently owned by company insiders.

Institutional investors and hedge funds have recently made changes to their positions in the company. JPMorgan Chase & Co. grew its position in Nordstrom by 4.6% in the 2nd quarter. JPMorgan Chase & Co. now owns 7,679,988 shares of the specialty retailer’s stock valued at $241,535,000 after buying an additional 340,606 shares during the last quarter. Price T Rowe Associates Inc. MD grew its position in Nordstrom by 1,093.5% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 2,383,907 shares of the specialty retailer’s stock valued at $75,951,000 after buying an additional 2,184,167 shares during the last quarter. Schroder Investment Management Group grew its position in Nordstrom by 50.3% in the 2nd quarter. Schroder Investment Management Group now owns 2,072,022 shares of the specialty retailer’s stock valued at $66,015,000 after buying an additional 693,633 shares during the last quarter. Northern Trust Corp grew its position in Nordstrom by 0.6% in the 2nd quarter. Northern Trust Corp now owns 1,663,234 shares of the specialty retailer’s stock valued at $52,990,000 after buying an additional 9,433 shares during the last quarter. Finally, Geode Capital Management LLC grew its position in Nordstrom by 5.1% in the 4th quarter. Geode Capital Management LLC now owns 1,650,673 shares of the specialty retailer’s stock valued at $76,815,000 after buying an additional 80,459 shares during the last quarter. Institutional investors and hedge funds own 63.94% of the company’s stock.

About Nordstrom (NYSE:JWN)

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

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