Nordstrom, Inc. (JWN) Earns Neutral Rating from Analysts at Piper Jaffray Companies
Stock analysts at Piper Jaffray Companies initiated coverage on shares of Nordstrom, Inc. (NYSE:JWN) in a research note issued on Friday. The brokerage set a “neutral” rating and a $41.00 price target on the stock. Piper Jaffray Companies’ price target indicates a potential downside of 7.20% from the company’s current price.
A number of other equities research analysts have also issued reports on the stock. RBC Capital Markets set a $50.00 target price on shares of Nordstrom and gave the stock a “hold” rating in a report on Tuesday. Cowen and Company dropped their target price on shares of Nordstrom from $64.00 to $50.00 and set an “outperform” rating for the company in a report on Monday. Susquehanna Bancshares Inc began coverage on shares of Nordstrom in a report on Friday, February 10th. They set a “neutral” rating and a $47.00 target price for the company. William Blair reaffirmed an “outperform” rating on shares of Nordstrom in a report on Monday, February 6th. Finally, Vetr lowered shares of Nordstrom from a “buy” rating to a “hold” rating and set a $44.40 target price for the company. in a report on Thursday, February 2nd. Seven equities research analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and eight have issued a buy rating to the company. Nordstrom has an average rating of “Hold” and a consensus price target of $47.35.
Nordstrom (NYSE:JWN) opened at 44.18 on Friday. The stock has a market cap of $7.66 billion, a P/E ratio of 23.51 and a beta of 1.01. The company has a 50-day moving average of $44.90 and a 200 day moving average of $50.65. Nordstrom has a 1-year low of $35.01 and a 1-year high of $62.82.
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In other Nordstrom news, insider Scott A. Meden sold 5,000 shares of the company’s stock in a transaction dated Wednesday, December 7th. The shares were sold at an average price of $60.00, for a total value of $300,000.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Daniel F. Little sold 19,704 shares of the company’s stock in a transaction dated Monday, December 12th. The shares were sold at an average price of $59.62, for a total transaction of $1,174,752.48. Following the completion of the transaction, the insider now directly owns 74,050 shares in the company, valued at approximately $4,414,861. The disclosure for this sale can be found here. Insiders sold 136,495 shares of company stock worth $7,997,621 in the last ninety days. 7.03% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently modified their holdings of JWN. Skandinaviska Enskilda Banken AB publ raised its stake in shares of Nordstrom by 20,761.0% in the third quarter. Skandinaviska Enskilda Banken AB publ now owns 2,731,326 shares of the company’s stock worth $141,701,000 after buying an additional 2,718,233 shares during the period. Smith Asset Management Group LP acquired a new stake in shares of Nordstrom during the third quarter worth about $62,974,000. JPMorgan Chase & Co. raised its stake in shares of Nordstrom by 26.4% in the third quarter. JPMorgan Chase & Co. now owns 4,294,122 shares of the company’s stock worth $222,779,000 after buying an additional 897,203 shares during the period. Fiera Capital Corp raised its stake in shares of Nordstrom by 1,512.0% in the fourth quarter. Fiera Capital Corp now owns 792,032 shares of the company’s stock worth $37,962,000 after buying an additional 742,899 shares during the period. Finally, Perkins Investment Management LLC acquired a new stake in shares of Nordstrom during the third quarter worth about $28,016,000. Institutional investors own 66.03% of the company’s stock.
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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