Credit Suisse Group restated their neutral rating on shares of Nordstrom, Inc. (NYSE:JWN) in a report issued on Monday, June 12th. They currently have a $52.00 price target on the specialty retailer’s stock.
JWN has been the topic of several other research reports. Citigroup Inc. decreased their target price on Nordstrom from $50.00 to $46.00 and set a neutral rating on the stock in a research report on Friday, May 12th. Vetr downgraded Nordstrom from a hold rating to a sell rating and set a $41.24 price objective on the stock. in a research report on Monday, March 20th. BMO Capital Markets reiterated a hold rating and set a $50.00 price objective on shares of Nordstrom in a research report on Monday, March 27th. Gordon Haskett reiterated an accumulate rating on shares of Nordstrom in a research report on Friday, June 9th. Finally, Royal Bank Of Canada cut their target price on Nordstrom from $50.00 to $47.00 and set an outperform rating for the company in a research note on Monday, February 27th. Four investment analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and five have assigned a buy rating to the stock. Nordstrom presently has a consensus rating of Hold and a consensus price target of $47.06.
Nordstrom (NYSE JWN) traded down 3.14% during mid-day trading on Monday, reaching $46.55. The company’s stock had a trading volume of 1,281,518 shares. The company has a market cap of $7.73 billion, a PE ratio of 21.79 and a beta of 0.86. Nordstrom has a 12-month low of $35.01 and a 12-month high of $62.82. The firm’s 50 day moving average is $44.54 and its 200-day moving average is $46.22.
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The business also recently declared a quarterly dividend, which was paid on Monday, June 12th. Investors of record on Friday, May 26th were issued a $0.37 dividend. The ex-dividend date of this dividend was Wednesday, May 24th. This represents a $1.48 annualized dividend and a yield of 3.08%. Nordstrom’s dividend payout ratio is currently 69.48%.
In related news, 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 value of $348,955.23. Following the completion of the sale, the insider now directly owns 76,371 shares in the company, valued at approximately $3,590,200.71. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 7.03% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently made changes to their positions in JWN. Gemmer Asset Management LLC increased 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 valued at $105,000 after buying an additional 18 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake in shares of Nordstrom by 0.3% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 6,658 shares of the specialty retailer’s stock valued at $319,000 after buying an additional 21 shares in the last quarter. Mosaic Family Wealth LLC increased its stake in shares of Nordstrom by 3.8% in the first quarter. Mosaic Family Wealth LLC now owns 2,953 shares of the specialty retailer’s stock valued at $138,000 after buying an additional 109 shares in the last quarter. Pinnacle Financial Partners Inc. increased its stake in shares of Nordstrom by 0.8% in the fourth quarter. Pinnacle Financial Partners Inc. now owns 19,992 shares of the specialty retailer’s stock valued at $958,000 after buying an additional 159 shares in the last quarter. Finally, Ken Stern & Associates Inc. increased its stake in shares of Nordstrom by 2.7% in the first quarter. Ken Stern & Associates Inc. now owns 6,155 shares of the specialty retailer’s stock valued at $297,000 after buying an additional 159 shares in the last quarter. Hedge funds and other institutional investors own 68.41% 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.
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