Investors Sell Nordstrom Inc. (JWN) on Strength (JWN)
Traders sold shares of Nordstrom Inc. (NYSE:JWN) on strength during trading on Friday. $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 11th highest net out-flow for the day. Nordstrom traded up $3.82 for the day and closed at $51.38
Several equities analysts recently weighed in on the stock. Bank of America Corp. reissued a “sell” rating and issued a $34.00 target price on shares of Nordstrom in a research note on Friday. Goldman Sachs Group Inc. raised their target price on shares of Nordstrom from $39.00 to $44.00 and gave the company a “neutral” rating in a research note on Friday. Deutsche Bank AG raised their target price on shares of Nordstrom from $47.00 to $57.00 and gave the company a “buy” rating in a research note on Friday. Citigroup Inc. raised their price target on Nordstrom from $40.00 to $50.00 and gave the company a “neutral” rating in a report on Friday. Finally, Credit Suisse Group AG reaffirmed a “hold” rating and set a $40.00 price target on shares of Nordstrom in a report on Friday. Six analysts have rated the stock with a sell rating, nineteen have issued a hold rating and eight have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $48.03.
The company has a 50-day moving average price of $41.43 and a 200-day moving average price of $46.72. The company has a market cap of $8.91 billion and a P/E ratio of 18.46.
Nordstrom (NYSE:JWN) last issued its quarterly earnings data on Thursday, August 11th. The company reported $0.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.56 by $0.11. During the same period last year, the company posted $0.93 EPS. The company had revenue of $3.65 billion for the quarter, compared to analysts’ expectations of $3.67 billion. The business’s revenue for the quarter was down .2% on a year-over-year basis. On average, equities research analysts predict that Nordstrom Inc. will post $2.58 EPS for the current year.
Other hedge funds recently modified their holdings of the company. Trexquant Investment LP bought a new stake in shares of Nordstrom during the fourth quarter worth about $1,544,000. Aberdeen Asset Management PLC UK boosted its stake 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. Airain ltd bought a new stake in shares of Nordstrom during the fourth quarter worth about $3,184,000. Foresters Investment Management Company Inc. boosted its stake in shares of Nordstrom by 30.0% in the fourth quarter. Foresters Investment Management Company Inc. now owns 65,000 shares of the company’s stock worth $3,238,000 after buying an additional 15,000 shares during the period. Finally, KBC Group NV boosted its stake in shares of Nordstrom by 15.8% in the fourth quarter. KBC Group NV now owns 75,809 shares of the company’s stock worth $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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