Nordstrom Inc. (JWN) Shares Down 2.4%
Nordstrom Inc. (NYSE:JWN) shares traded down 2.4% during mid-day trading on Tuesday . The company traded as low as $51.20 and last traded at $51.21, with a volume of 1,113,032 shares trading hands. The stock had previously closed at $52.45.
A number of analysts have weighed in on the company. Royal Bank Of Canada assumed coverage on Nordstrom in a research note on Tuesday, May 3rd. They issued a “sector perform” rating and a $51.00 price target on the stock. Sterne Agee CRT restated a “hold” rating on shares of Nordstrom in a research note on Saturday, May 14th. Citigroup Inc. restated a “hold” rating on shares of Nordstrom in a research note on Saturday, May 14th. Credit Suisse Group AG restated a “hold” rating on shares of Nordstrom in a research note on Saturday, May 14th. Finally, Vetr upgraded Nordstrom from a “hold” rating to a “buy” rating and set a $47.50 price target on the stock in a research note on Tuesday, July 26th. Seven analysts have rated the stock with a sell rating, eighteen have given a hold rating and eight have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $47.13.
The firm has a market capitalization of $8.92 billion and a P/E ratio of 21.92. The firm’s 50-day moving average is $45.98 and its 200 day moving average is $46.96.
Nordstrom (NYSE:JWN) last posted its quarterly earnings data on Thursday, August 11th. The company reported $0.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.56 by $0.11. The company earned $3.65 billion during the quarter, compared to the consensus estimate of $3.67 billion. The company’s revenue was down .2% on a year-over-year basis. During the same quarter last year, the business earned $0.93 earnings per share. Analysts anticipate that Nordstrom Inc. will post $2.73 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 13th. Stockholders of record on Monday, August 29th will be issued a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 2.88%. The ex-dividend date is Thursday, August 25th.
A hedge fund recently raised its stake in Nordstrom stock. KBC Group NV increased its stake in shares of Nordstrom Inc. (NYSE:JWN) by 15.8% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 75,809 shares of the company’s stock after buying an additional 10,359 shares during the period. KBC Group NV’s holdings in Nordstrom were worth $3,776,000 at the end of the most recent reporting 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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