Investors Sell Nordstrom Inc. (JWN) on Strength (JWN)
Investors sold shares of Nordstrom Inc. (NYSE:JWN) on strength during trading hours on Monday. $143.97 million flowed into the stock on the tick-up and $172.41 million flowed out of the stock on the tick-down, for a money net flow of $28.44 million out of the stock. Of all equities tracked, Nordstrom had the 0th highest net out-flow for the day. Nordstrom traded up $3.82 for the day and closed at $51.38
A number of analysts have recently weighed in on the stock. RBC Capital Markets restated a “sector perform” rating and issued a $47.00 price objective (up from $38.00) on shares of Nordstrom in a research note on Monday. Morgan Stanley reiterated an “underweight” rating and set a $36.00 target price (up from $34.00) on shares of Nordstrom in a research note on Monday. Royal Bank Of Canada upped their target price on shares of Nordstrom from $38.00 to $47.00 and gave the company a “sector perform” rating in a research note on Monday. Vetr cut shares of Nordstrom from a “hold” rating to a “sell” rating and set a $47.33 target price for the company. in a research note on Monday. Finally, Cowen and Company reiterated an “outperform” rating and set a $55.00 target price (up from $48.00) on shares of Nordstrom in a research note on Saturday. Seven investment analysts have rated the stock with a sell rating, eighteen have issued a hold rating and eight have issued a buy rating to the company’s stock. Nordstrom has an average rating of “Hold” and a consensus target price of $47.17.
The company has a 50-day moving average price of $41.88 and a 200-day moving average price of $46.74. The company has a market capitalization of $9.29 billion and a PE ratio of 22.83.
Nordstrom (NYSE:JWN) last issued its quarterly earnings results on Thursday, August 11th. The company reported $0.67 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.56 by $0.11. During the same period last year, the firm posted $0.93 earnings per share. The business earned $3.65 billion during the quarter, compared to analyst estimates of $3.67 billion. Nordstrom’s quarterly revenue was down .2% compared to the same quarter last year. Equities analysts predict that Nordstrom Inc. will post $2.70 EPS for the current year.
Other institutional investors have modified their holdings of the company. Schroder Investment Management Group raised its position in shares of Nordstrom by 3,179.8% in the fourth quarter. Schroder Investment Management Group now owns 426,371 shares of the company’s stock valued at $21,238,000 after buying an additional 413,371 shares during the period. Nicholas Co. Inc. WI raised its position in shares of Nordstrom by 11.6% in the fourth quarter. Nicholas Co. Inc. WI now owns 145,105 shares of the company’s stock valued at $7,227,000 after buying an additional 15,092 shares during the period. Marshall Wace LLP acquired a new position in shares of Nordstrom during the fourth quarter valued at about $5,069,000. 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 valued at $5,046,000 after buying an additional 9,822 shares during the period. Finally, KBC Group NV raised its position in shares of Nordstrom by 15.8% in the fourth quarter. KBC Group NV now owns 75,809 shares of the company’s stock valued at $3,776,000 after buying an additional 10,359 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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