Shares of Nordstrom Inc. (NYSE:JWN) traded down 6.7% during trading on Tuesday . The stock traded as low as $40.71 and last traded at $40.83, with a volume of 3,283,335 shares. The stock had previously closed at $43.74.

Several analysts recently commented on the company. Vetr downgraded Nordstrom from a “buy” rating to a “hold” rating and set a $45.38 price objective on the stock. in a research note on Monday. Goldman Sachs Group Inc. reissued a “neutral” rating and issued a $39.00 price target on shares of Nordstrom in a research note on Monday. Zacks Investment Research raised Nordstrom from a “sell” rating to a “hold” rating and set a $48.00 price target on the stock in a research note on Tuesday, July 26th. Piper Jaffray Cos. raised Nordstrom from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $45.00 to $53.00 in a research note on Tuesday, July 26th. Finally, Miller Tabak raised Nordstrom from a “sell” rating to a “hold” rating and lifted their price target for the company from $30.00 to $39.50 in a research note on Tuesday, July 5th. They noted that the move was a valuation call. Six equities research analysts have rated the stock with a sell rating, nineteen have given a hold rating and eight have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $46.71.

The company has a market cap of $7.07 billion and a price-to-earnings ratio of 14.63. The company’s 50 day moving average price is $39.65 and its 200-day moving average price is $46.87.

Nordstrom (NYSE:JWN) last announced its quarterly earnings results on Thursday, May 12th. The company reported $0.26 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.46 by $0.20. The business earned $3.19 billion during the quarter, compared to the consensus estimate of $3.28 billion. The business’s revenue for the quarter was up 2.5% compared to the same quarter last year. During the same period in the previous year, the business earned $0.66 EPS. On average, equities research analysts expect that Nordstrom Inc. will post $2.56 EPS for the current year.

Other hedge funds and institutional investors have made changes to their positions in the company. MUFG Americas Holdings Corp raised its position in shares of Nordstrom by 2.6% in the fourth quarter. MUFG Americas Holdings Corp now owns 31,613 shares of the company’s stock worth $1,575,000 after buying an additional 800 shares during the period. Aberdeen Asset Management PLC UK raised its position in shares of Nordstrom by 8.9% in the fourth quarter. Aberdeen Asset Management PLC UK now owns 32,736 shares of the company’s stock worth $2,243,000 after buying an additional 2,679 shares during the period. New York State Common Retirement Fund raised its position in shares of Nordstrom by 0.8% in the fourth quarter. New York State Common Retirement Fund now owns 367,169 shares of the company’s stock worth $18,289,000 after buying an additional 2,800 shares during the period. Russell Frank Co raised its position in shares of Nordstrom by 12.9% in the fourth quarter. Russell Frank Co now owns 29,246 shares of the company’s stock worth $1,471,000 after buying an additional 3,337 shares during the period. Finally, US Bancorp DE raised its position in shares of Nordstrom by 10.7% in the fourth quarter. US Bancorp DE now owns 101,318 shares of the company’s stock worth $5,046,000 after buying an additional 9,822 shares during the period.

Nordstrom, Inc is a fashion specialty retailer in the United States. The company operates through two segments: Retail and Credit. The Retail segment includes approximately 115 Nordstrom branded full-line stores in the United States and Nordstrom.com, approximately 167 off-price Nordstrom Rack stores, two Canada full-line stores, Nordstromrack.com and HauteLook, and other retail channels, including five Trunk Club showrooms and TrunkClub.com, its two Jeffrey boutiques and one clearance store that operates under the name Last Chance.

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