Nordstrom PT Raised to $73.00 at Topeka Capital Markets (JWN)
Analysts at Topeka Capital Markets increased their price objective on shares of Nordstrom (NYSE:JWN) from $68.00 to $73.00 in a research report issued to clients and investors on Friday, AnalystRatings.Net reports. The firm currently has a “buy” rating on the stock. Topeka Capital Markets’ target price points to a potential upside of 18.72% from the company’s current price.
JWN has been the subject of a number of other recent research reports. Analysts at McAdams Wright Ragen downgraded shares of Nordstrom from a “buy” rating to a “hold” rating in a research note on Wednesday, April 30th. They noted that the move was a valuation call. Separately, analysts at Zacks reiterated a “neutral” rating on shares of Nordstrom in a research note on Wednesday, March 19th. They now have a $66.00 price target on the stock. Finally, analysts at Barclays initiated coverage on shares of Nordstrom in a research note on Tuesday, March 18th. They set an “equal weight” rating and a $65.00 price target on the stock. Twelve research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Nordstrom has an average rating of “Hold” and a consensus target price of $65.61.
In other Nordstrom news, EVP Peter Nordstrom sold 40,984 shares of Nordstrom stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $62.82, for a total value of $2,574,614.88. Following the transaction, the executive vice president now directly owns 2,101,551 shares in the company, valued at approximately $132,019,434. The sale was disclosed in a filing with the SEC, which can be accessed through this link.
Shares of Nordstrom (NYSE:JWN) opened at 61.49 on Friday. Nordstrom has a one year low of $54.90 and a one year high of $64.19. The stock has a 50-day moving average of $61.79 and a 200-day moving average of $60.93. The company has a market cap of $11.664 billion and a P/E ratio of 16.68. Nordstrom also was the recipient of unusually large options trading activity on Thursday. Stock investors purchased 15,620 put options on the company. This represents an increase of approximately 761% compared to the typical daily volume of 1,814 put options.
Nordstrom (NYSE:JWN) last issued its quarterly earnings data on Thursday, May 15th. The company reported $0.72 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.68 by $0.04. The company had revenue of $2.84 billion for the quarter, compared to the consensus estimate of $2.86 billion. On average, analysts predict that Nordstrom will post $3.85 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Friday, June 13th. Shareholders of record on Friday, May 30th will be given a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 2.15%. The ex-dividend date of this dividend is Wednesday, May 28th.
Nordstrom, Inc is a fashion specialty retailer. As of March 18, 2013, the Company operates 242 United States stores located in 31 states, as well as an e-commerce business through nordstrom.
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