TheStreet cut shares of Nordstrom, Inc. (NYSE:JWN) from a b- rating to a c rating in a research report report published on Thursday, May 11th.
Other equities research analysts have also issued research reports about the stock. Vetr lowered shares of Nordstrom from a buy rating to a hold rating and set a $44.40 price target on the stock. in a research note on Thursday, February 2nd. Citigroup Inc lowered their price objective on shares of Nordstrom from $50.00 to $46.00 and set a neutral rating on the stock in a research note on Friday, May 12th. Stifel Nicolaus lowered shares of Nordstrom from a buy rating to a hold rating and lowered their price objective for the company from $62.00 to $40.00 in a research note on Tuesday, January 17th. BMO Capital Markets restated a hold rating and set a $50.00 target price on shares of Nordstrom in a report on Monday, March 27th. Finally, Credit Suisse Group AG raised shares of Nordstrom from a neutral rating to an outperform rating and set a $58.00 price objective for the company in a research note on Wednesday, January 18th. Four analysts have rated the stock with a sell rating, sixteen have issued a hold rating and eight have assigned a buy rating to the company. The stock has a consensus rating of Hold and an average target price of $47.10.
Shares of Nordstrom (NYSE JWN) traded down 1.93% on Thursday, hitting $41.65. The stock had a trading volume of 2,197,586 shares. The stock has a 50 day moving average price of $45.05 and a 200-day moving average price of $47.01. The company has a market cap of $6.91 billion, a price-to-earnings ratio of 19.50 and a beta of 1.01. Nordstrom has a 12-month low of $35.01 and a 12-month high of $62.82.
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The business also recently declared a quarterly dividend, which will be paid on Monday, June 12th. Stockholders of record on Friday, May 26th will be issued a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 3.55%. The ex-dividend date is Wednesday, May 24th. Nordstrom’s dividend payout ratio (DPR) is presently 79.14%.
In related news, President Blake W. Nordstrom sold 3,169 shares of the stock in a transaction on Monday, March 13th. The shares were sold at an average price of $43.80, for a total transaction of $138,802.20. Following the completion of the transaction, the president now owns 2,140,587 shares in the company, valued at $93,757,710.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Daniel F. Little sold 7,423 shares of the stock in a transaction on Monday, April 3rd. The stock was sold at an average price of $47.01, for a total transaction of $348,955.23. Following the transaction, the insider now owns 76,371 shares of the company’s stock, valued at approximately $3,590,200.71. The disclosure for this sale can be found here. Insiders sold 13,889 shares of company stock valued at $635,298 in the last quarter. Corporate insiders own 7.03% of the company’s stock.
Hedge funds have recently bought and sold shares of the company. Skandinaviska Enskilda Banken AB publ raised its stake in Nordstrom by 32.2% in the first quarter. Skandinaviska Enskilda Banken AB publ now owns 3,354,037 shares of the specialty retailer’s stock valued at $156,198,000 after buying an additional 816,498 shares during the period. Bedell Frazier Investment Counseling LLC purchased a new stake in Nordstrom during the first quarter valued at about $6,304,000. Achmea Investment Management B.V. purchased a new stake in Nordstrom during the first quarter valued at about $1,967,000. Bank of Nova Scotia purchased a new stake in Nordstrom during the first quarter valued at about $1,092,000. Finally, Brighton Jones LLC purchased a new stake in Nordstrom during the first quarter valued at about $903,000. 66.03% of the stock is currently owned by hedge funds and other institutional investors.
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.
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