Nordstrom, Inc. (NYSE:JWN) gapped down before the market opened on Monday after Zacks Investment Research downgraded the stock from a buy rating to a hold rating. The stock had previously closed at $49.26, but opened at $50.93. Nordstrom shares last traded at $50.73, with a volume of 2712356 shares traded.

JWN has been the topic of several other research reports. Morgan Stanley boosted their price target on Nordstrom from $44.00 to $47.00 and gave the stock an “underweight” rating in a research note on Friday, August 17th. Citigroup boosted their price target on Nordstrom from $54.00 to $62.00 and gave the stock a “neutral” rating in a research note on Friday, August 17th. ValuEngine raised Nordstrom from a “hold” rating to a “buy” rating in a research note on Tuesday, September 4th. Gordon Haskett lowered Nordstrom from a “hold” rating to a “reduce” rating in a research note on Thursday, November 8th. Finally, Guggenheim reissued a “hold” rating on shares of Nordstrom in a research note on Thursday, November 15th. One equities research analyst has rated the stock with a sell rating, fifteen have given a hold rating and six have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $57.71.

In related news, insider Blake W. Nordstrom sold 127,251 shares of the company’s stock in a transaction that occurred on Thursday, September 20th. The stock was sold at an average price of $61.51, for a total value of $7,827,209.01. Following the sale, the insider now owns 2,519,436 shares of the company’s stock, valued at approximately $154,970,508.36. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, VP Robert Sari sold 8,795 shares of the stock in a transaction on Wednesday, October 10th. The stock was sold at an average price of $62.50, for a total value of $549,687.50. Following the transaction, the vice president now directly owns 14,960 shares in the company, valued at approximately $935,000. The disclosure for this sale can be found here. In the last ninety days, insiders sold 200,604 shares of company stock worth $12,621,378. 7.05% of the stock is owned by corporate insiders.

Institutional investors have recently modified their holdings of the business. Centaurus Financial Inc. purchased a new position in shares of Nordstrom during the 2nd quarter worth $112,000. First Hawaiian Bank purchased a new position in shares of Nordstrom during the 3rd quarter worth $113,000. Kiley Juergens Wealth Management LLC purchased a new position in shares of Nordstrom during the 2nd quarter worth $118,000. Captrust Financial Advisors lifted its stake in shares of Nordstrom by 426.1% during the 3rd quarter. Captrust Financial Advisors now owns 2,099 shares of the specialty retailer’s stock worth $126,000 after purchasing an additional 1,700 shares during the period. Finally, Stratos Wealth Partners LTD. purchased a new position in shares of Nordstrom during the 3rd quarter worth $145,000. 56.32% of the stock is currently owned by institutional investors.

The company has a market capitalization of $8.59 billion, a price-to-earnings ratio of 17.32, a price-to-earnings-growth ratio of 2.35 and a beta of 0.59. The company has a debt-to-equity ratio of 2.23, a current ratio of 1.12 and a quick ratio of 0.44.

Nordstrom (NYSE:JWN) last issued its quarterly earnings results on Thursday, November 15th. The specialty retailer reported $0.67 earnings per share for the quarter, topping analysts’ consensus estimates of $0.64 by $0.03. Nordstrom had a return on equity of 51.66% and a net margin of 2.92%. The company had revenue of $3.75 billion for the quarter, compared to analyst estimates of $3.68 billion. On average, analysts anticipate that Nordstrom, Inc. will post 3.61 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 11th. Shareholders of record on Monday, November 26th will be paid a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 2.89%. The ex-dividend date of this dividend is Friday, November 23rd. Nordstrom’s dividend payout ratio is presently 50.00%.

Nordstrom declared that its Board of Directors has authorized a share repurchase program on Wednesday, August 22nd that allows the company to buyback $1.50 billion in outstanding shares. This buyback authorization allows the specialty retailer to buy up to 14.4% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its stock is undervalued.

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Nordstrom Company Profile (NYSE:JWN)

Nordstrom, Inc, a fashion retailer, provides apparel, shoes, cosmetics, and accessories for women, men, young adults, and children in the United States and Canada. The company operates in two segments, Retail and Credit. The Retail segment offers a range of brand name and private label merchandise through various channels, including Nordstrom branded full-line stores and online store at Nordstrom.com; Nordstrom Rack stores; Nordstromrack.com and HauteLook; Trunk Club clubhouses and TrunkClub.com; Jeffrey boutiques; and clearance stores that operate under the Last Chance name.

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