Insider Selling: Nordstrom President Sells 67,502 Shares of Stock (JWN)
Nordstrom (NYSE:JWN) President Blake W. Nordstrom sold 67,502 shares of the stock on the open market in a transaction dated Wednesday, July 9th. The shares were sold at an average price of $70.00, for a total value of $4,725,140.00. Following the sale, the president now directly owns 1,903,378 shares in the company, valued at approximately $133,236,460. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.
JWN has been the subject of a number of recent research reports. Analysts at Topeka Capital Markets raised their price target on shares of Nordstrom from $73.00 to $75.00 in a research note on Tuesday, July 1st. They now have a “buy” rating on the stock. Separately, analysts at Goldman Sachs downgraded shares of Nordstrom from a “buy” rating to a “neutral” rating in a research note on Monday, June 23rd. They now have a $74.00 price target on the stock. They noted that the move was a valuation call. Finally, analysts at Zacks reiterated a “neutral” rating on shares of Nordstrom in a research note on Wednesday, June 4th. They now have a $71.00 price target on the stock. Thirteen investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Nordstrom currently has an average rating of “Hold” and an average target price of $69.11.
Shares of Nordstrom (NYSE:JWN) traded down 1.37% on Thursday, hitting $69.18. The stock had a trading volume of 805,542 shares. Nordstrom has a one year low of $54.90 and a one year high of $70.71. The stock’s 50-day moving average is $68.2 and its 200-day moving average is $62.87. The company has a market cap of $13.142 billion and a price-to-earnings ratio of 18.92.
Nordstrom (NYSE:JWN) last released its 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 $3.90 earnings per share for the current fiscal year.
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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