Nordstrom, Inc. (JWN) Cut to Hold at Vetr Inc.
Nordstrom, Inc. (NYSE:JWN) was downgraded by research analysts at Vetr from a “strong-buy” rating to a “hold” rating in a report issued on Monday, May 15th. They presently have a $42.98 price target on the specialty retailer’s stock. Vetr‘s target price points to a potential upside of 1.20% from the stock’s previous close.
Several other analysts have also recently issued reports on JWN. Royal Bank of Canada set a $47.00 target price on Nordstrom and gave the company a “hold” rating in a research report on Saturday, February 25th. Susquehanna Bancshares Inc initiated coverage on Nordstrom in a research report on Friday, February 10th. They set a “neutral” rating and a $47.00 target price on the stock. Credit Suisse Group AG set a $52.00 target price on Nordstrom and gave the company a “buy” rating in a research report on Saturday, April 1st. Robert W. Baird set a $50.00 target price on Nordstrom and gave the company a “hold” rating in a research report on Saturday, May 13th. Finally, BMO Capital Markets set a $48.00 target price on Nordstrom and gave the company a “hold” rating in a research report on Saturday, May 13th. Five analysts have rated the stock with a sell rating, sixteen have issued a hold rating and eight have issued a buy rating to the company. Nordstrom currently has an average rating of “Hold” and a consensus price target of $47.06.
Shares of Nordstrom (NYSE:JWN) traded up 1.60% on Monday, reaching $42.47. The company’s stock had a trading volume of 2,291,378 shares. Nordstrom has a one year low of $35.01 and a one year high of $62.82. The firm has a market capitalization of $7.05 billion, a PE ratio of 19.88 and a beta of 1.01. The firm has a 50-day moving average price of $45.57 and a 200 day moving average price of $47.75.
Nordstrom (NYSE:JWN) last announced its quarterly earnings data on Thursday, February 23rd. The specialty retailer reported $1.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.15 by $0.22. Nordstrom had a return on equity of 58.85% and a net margin of 2.28%. The company had revenue of $4.24 billion for the quarter, compared to analysts’ expectations of $4.36 billion. During the same quarter in the prior year, the firm earned $1.17 earnings per share. Nordstrom’s revenue was up 2.4% compared to the same quarter last year. On average, analysts anticipate that Nordstrom will post $2.95 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, June 12th. Investors of record on Friday, May 26th will be given a dividend of $0.37 per share. The ex-dividend date of this dividend is Wednesday, May 24th. This represents a $1.48 dividend on an annualized basis and a yield of 3.48%. Nordstrom’s dividend payout ratio (DPR) is currently 79.14%.
In related news, insider Daniel F. Little sold 7,423 shares of the firm’s stock in a transaction that occurred on Monday, April 3rd. The shares were sold at an average price of $47.01, for a total transaction of $348,955.23. Following the sale, the insider now owns 76,371 shares in the company, valued at $3,590,200.71. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, President Blake W. Nordstrom sold 1,558 shares of the firm’s stock in a transaction that occurred on Monday, February 27th. The stock was sold at an average price of $47.50, for a total transaction of $74,005.00. Following the sale, the president now owns 2,115,346 shares in the company, valued at approximately $100,478,935. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 19,333 shares of company stock worth $888,010. 7.03% of the stock is owned by company insiders.
A number of hedge funds have recently made changes to their positions in the company. Parallel Advisors LLC raised its stake in shares of Nordstrom by 12.7% in the first quarter. Parallel Advisors LLC now owns 2,099 shares of the specialty retailer’s stock worth $104,000 after buying an additional 236 shares during the period. Gemmer Asset Management LLC raised its stake in shares of Nordstrom by 0.8% in the first quarter. Gemmer Asset Management LLC now owns 2,252 shares of the specialty retailer’s stock worth $105,000 after buying an additional 18 shares during the period. Ledyard National Bank raised its stake in shares of Nordstrom by 291.1% in the first quarter. Ledyard National Bank now owns 2,362 shares of the specialty retailer’s stock worth $110,000 after buying an additional 1,758 shares during the period. Advisory Services Network LLC purchased a new stake in shares of Nordstrom during the first quarter worth about $113,000. Finally, Sowell Financial Services LLC purchased a new stake in shares of Nordstrom during the fourth quarter worth about $123,000. Hedge funds and other institutional investors own 66.03% of the company’s stock.
Nordstrom Company Profile
Nordstrom, Inc is a fashion specialty retailer in the United States. The Company’s segments include Retail and Credit. As of March 20, 2017, the Company operated 344 the United States stores located in 40 states as well as an e-commerce business. The Company also offers its customers a variety of payment products and services, including credit and debit cards.
To view Vetr’s full report, visit Vetr’s official website.
Receive News & Ratings for Nordstrom Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Nordstrom Inc. and related companies with MarketBeat.com's FREE daily email newsletter.