UBS Group downgraded shares of Nordstrom (NYSE:JWN) from a buy rating to a neutral rating in a report released on Tuesday, BenzingaRatingsTable reports. They currently have $33.00 price objective on the specialty retailer’s stock, down from their previous price objective of $65.00.
Several other equities analysts have also recently commented on JWN. Zacks Investment Research cut Nordstrom from a hold rating to a strong sell rating in a report on Friday, May 24th. Telsey Advisory Group reaffirmed a market perform rating and issued a $37.00 price target (down previously from $56.00) on shares of Nordstrom in a report on Wednesday, May 22nd. Cowen cut their price target on Nordstrom from $44.00 to $36.00 and set a market perform rating for the company in a report on Thursday, May 23rd. Credit Suisse Group cut their price target on Nordstrom from $40.00 to $36.00 and set a neutral rating for the company in a report on Wednesday, May 22nd. Finally, Piper Jaffray Companies dropped their target price on Nordstrom from $40.00 to $33.00 and set a neutral rating for the company in a report on Wednesday, May 22nd. Five analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and one has given a buy rating to the company’s stock. Nordstrom has an average rating of Hold and a consensus price target of $40.11.
NYSE JWN opened at $31.78 on Tuesday. Nordstrom has a twelve month low of $30.55 and a twelve month high of $67.75. The company has a quick ratio of 0.24, a current ratio of 0.76 and a debt-to-equity ratio of 6.34. The firm has a market cap of $4.83 billion, a PE ratio of 8.95, a PEG ratio of 1.56 and a beta of 0.65. The business’s 50-day simple moving average is $33.00.
Nordstrom (NYSE:JWN) last posted its quarterly earnings results on Tuesday, May 21st. The specialty retailer reported $0.23 EPS for the quarter, missing the consensus estimate of $0.43 by ($0.20). The firm had revenue of $3.44 billion during the quarter, compared to analyst estimates of $3.54 billion. Nordstrom had a net margin of 3.27% and a return on equity of 58.16%. During the same period last year, the company earned $0.51 EPS. As a group, sell-side analysts predict that Nordstrom will post 3.34 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, June 18th. Stockholders of record on Monday, June 3rd were issued a $0.37 dividend. The ex-dividend date of this dividend was Friday, May 31st. This represents a $1.48 dividend on an annualized basis and a dividend yield of 4.66%. Nordstrom’s payout ratio is presently 41.69%.
In related news, insider Peter E. Nordstrom sold 3,380 shares of the stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $32.46, for a total transaction of $109,714.80. Following the sale, the insider now directly owns 2,530,989 shares in the company, valued at approximately $82,155,902.94. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Christine Deputy sold 4,812 shares of the stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of $32.59, for a total value of $156,823.08. Following the sale, the insider now owns 60,056 shares in the company, valued at $1,957,225.04. The disclosure for this sale can be found here. Corporate insiders own 5.21% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Piedmont Investment Advisors Inc. grew its position in Nordstrom by 2.7% during the 1st quarter. Piedmont Investment Advisors Inc. now owns 10,476 shares of the specialty retailer’s stock worth $465,000 after acquiring an additional 276 shares during the last quarter. BTIM Corp. grew its position in Nordstrom by 1.2% during the 1st quarter. BTIM Corp. now owns 27,470 shares of the specialty retailer’s stock worth $1,219,000 after acquiring an additional 325 shares during the last quarter. Pinnacle Wealth Management Advisory Group LLC grew its position in Nordstrom by 8.5% during the 1st quarter. Pinnacle Wealth Management Advisory Group LLC now owns 4,965 shares of the specialty retailer’s stock worth $220,000 after acquiring an additional 390 shares during the last quarter. Captrust Financial Advisors grew its position in Nordstrom by 19.1% during the 4th quarter. Captrust Financial Advisors now owns 2,499 shares of the specialty retailer’s stock worth $116,000 after acquiring an additional 400 shares during the last quarter. Finally, Bailard Inc. boosted its position in Nordstrom by 0.8% in the 1st quarter. Bailard Inc. now owns 59,397 shares of the specialty retailer’s stock valued at $2,636,000 after buying an additional 465 shares during the last quarter. Institutional investors and hedge funds own 62.30% of the company’s stock.
Nordstrom Company Profile
Nordstrom, Inc, a fashion retailer, provides apparel, shoes, cosmetics, and accessories for women, men, young adults, and children. It offers a range of brand name and private label merchandise through various channels, such as Nordstrom branded full-line stores and online store at Nordstrom.com; Nordstrom Rack stores; Nordstromrack.com and HauteLook; Jeffrey boutiques; clearance stores that operate under the Last Chance name; Trunk Club clubhouses and TrunkClub.com; and Nordstrom Locals.
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