Equities research analysts at Guggenheim initiated coverage on shares of Nordstrom Inc. (NYSE:JWN) in a research note issued to investors on Friday. The firm set a “buy” rating and a $60.00 price target on the stock. Guggenheim’s price objective would indicate a potential upside of 17.39% from the stock’s previous close.
A number of other research analysts also recently commented on the company. Stifel Nicolaus set a $58.00 price target on Nordstrom and gave the company a “buy” rating in a report on Thursday, September 22nd. Vetr downgraded Nordstrom from a “sell” rating to a “strong sell” rating and set a $46.00 price target for the company. in a report on Tuesday, September 6th. Cowen and Company reissued an “outperform” rating and issued a $55.00 price target on shares of Nordstrom in a report on Monday, August 29th. RBC Capital Markets reissued a “sector perform” rating and issued a $47.00 price target (up previously from $38.00) on shares of Nordstrom in a report on Monday, August 15th. Finally, Morgan Stanley reissued an “underweight” rating and issued a $36.00 price target (up previously from $34.00) on shares of Nordstrom in a report on Monday, August 15th. Seven investment analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and eight have assigned a buy rating to the stock. Nordstrom currently has an average rating of “Hold” and an average price target of $47.23.
Nordstrom (NYSE:JWN) opened at 51.11 on Friday. The firm has a market cap of $8.86 billion, a price-to-earnings ratio of 21.78 and a beta of 1.04. Nordstrom has a 12-month low of $35.01 and a 12-month high of $75.08. The stock has a 50 day moving average price of $51.29 and a 200-day moving average price of $46.48.
Nordstrom (NYSE:JWN) last issued its quarterly earnings results on Thursday, August 11th. The company reported $0.67 EPS for the quarter, beating analysts’ consensus estimates of $0.56 by $0.11. The firm earned $3.65 billion during the quarter, compared to the consensus estimate of $3.67 billion. Nordstrom had a return on equity of 47.22% and a net margin of 2.95%. Nordstrom’s revenue for the quarter was down .2% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.93 earnings per share. Equities analysts forecast that Nordstrom will post $2.73 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, September 13th. Stockholders of record on Monday, August 29th were given a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 2.90%. The ex-dividend date was Thursday, August 25th. Nordstrom’s dividend payout ratio (DPR) is presently 62.98%.
In other news, insider Daniel F. Little sold 5,270 shares of the firm’s stock in a transaction on Friday, September 23rd. The stock was sold at an average price of $52.00, for a total transaction of $274,040.00. Following the completion of the sale, the insider now directly owns 68,088 shares of the company’s stock, valued at approximately $3,540,576. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 7.03% of the company’s stock.
Several large investors have recently added to or reduced their stakes in JWN. M&T Bank Corp raised its stake in Nordstrom by 2.3% in the first quarter. M&T Bank Corp now owns 196,241 shares of the company’s stock valued at $11,227,000 after buying an additional 4,500 shares in the last quarter. Royce & Associates LP raised its stake in Nordstrom by 0.6% in the first quarter. Royce & Associates LP now owns 171,000 shares of the company’s stock valued at $9,783,000 after buying an additional 1,000 shares in the last quarter. Landscape Capital Management L.L.C. bought a new stake in Nordstrom during the first quarter valued at $3,771,000. NN Investment Partners Holdings N.V. bought a new stake in Nordstrom during the first quarter valued at $884,000. Finally, Peapack Gladstone Financial Corp bought a new stake in Nordstrom during the first quarter valued at $202,000. 65.48% 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 operates through two segments: Retail and Credit. The Retail segment includes approximately 115 Nordstrom branded full-line stores in the United States and Nordstrom.com, approximately 167 off-price Nordstrom Rack stores, two Canada full-line stores, Nordstromrack.com and HauteLook, and other retail channels, including five Trunk Club showrooms and TrunkClub.com, its two Jeffrey boutiques and one clearance store that operates under the name Last Chance.
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