Nordstrom EVP Sells $505,028 in Stock (JWN)
Nordstrom (NYSE:JWN) EVP Margaret Myers unloaded 8,670 shares of Nordstrom stock on the open market in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $58.25, for a total transaction of $505,027.50. Following the sale, the executive vice president now directly owns 16,278 shares in the company. The sale was disclosed in a document filed with the SEC, which is available at this link.
A number of research firms have recently commented on JWN. Analysts at Goldman Sachs Group Inc. initiated coverage on shares of Nordstrom (NYSE:JWN) in a research note to investors on Wednesday, September 4th. They set a “buy” rating and a $69.00 price target on the stock. Separately, analysts at Zacks reiterated a “neutral” rating on shares of Nordstrom (NYSE:JWN) in a research note to investors on Wednesday, August 21st. They now have a $60.00 price target on the stock. Finally, analysts at KeyCorp cut their price target on shares of Nordstrom (NYSE:JWN) from $70.00 to $68.00 in a research note to investors on Friday, August 16th. They now have a “buy” rating on the stock.
Eight research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $65.57.
Shares of Nordstrom (NYSE:JWN) traded down 0.26% during mid-day trading on Wednesday, hitting $58.03. 2,115,103 shares of the company’s stock traded hands. Nordstrom has a one year low of $50.94 and a one year high of $63.34. The stock’s 50-day moving average is $58.01 and its 200-day moving average is $58.00. The company has a market cap of $11.309 billion and a price-to-earnings ratio of 15.37.
Nordstrom (NYSE:JWN) last issued its quarterly earnings data on Thursday, August 15th. The company reported $0.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.88 by $0.05. The company had revenue of $3.20 billion for the quarter, compared to the consensus estimate of $3.29 billion. During the same quarter in the prior year, the company posted $0.75 earnings per share. The company’s quarterly revenue was up 6.4% on a year-over-year basis. Analysts expect that Nordstrom will post $3.69 EPS for the current fiscal year.
Nordstrom, Inc is a fashion specialty retailer, with 225 the United States stores located in 30 states as of March 16, 2012.
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