Brokerages Set Nordstrom, Inc. (NYSE:JWN) PT at $39.64

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Shares of Nordstrom, Inc. (NYSE:JWN) have received a consensus rating of “Hold” from the twenty-three brokerages that are presently covering the firm, MarketBeat.com reports. Five research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and two have given a buy rating to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $39.06.

JWN has been the topic of a number of research reports. Telsey Advisory Group reissued a “market perform” rating and set a $37.00 target price (down from $56.00) on shares of Nordstrom in a report on Wednesday, May 22nd. Piper Jaffray Companies dropped their target price on shares of Nordstrom from $40.00 to $33.00 and set a “neutral” rating on the stock in a report on Wednesday, May 22nd. Citigroup dropped their target price on shares of Nordstrom from $48.00 to $37.00 and set a “neutral” rating on the stock in a report on Wednesday, May 22nd. KeyCorp dropped their target price on shares of Nordstrom from $55.00 to $52.00 and set an “overweight” rating on the stock in a report on Wednesday, May 22nd. Finally, Zacks Investment Research cut shares of Nordstrom from a “hold” rating to a “strong sell” rating in a report on Friday, May 24th.

JWN traded down $0.91 during trading on Friday, hitting $25.11. The company had a trading volume of 198,914 shares, compared to its average volume of 4,541,239. The company has a market cap of $4.42 billion, a P/E ratio of 7.07, a PEG ratio of 1.44 and a beta of 0.66. The stock has a 50-day moving average of $30.55. The company has a current ratio of 0.76, a quick ratio of 0.24 and a debt-to-equity ratio of 6.34. Nordstrom has a 1-year low of $25.88 and a 1-year high of $67.75.

Nordstrom (NYSE:JWN) last posted its quarterly earnings results on Tuesday, May 21st. The specialty retailer reported $0.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.43 by ($0.20). The company had revenue of $3.44 billion during the quarter, compared to analyst estimates of $3.54 billion. Nordstrom had a net margin of 3.27% and a return on equity of 58.16%. During the same period in the prior year, the company earned $0.51 earnings per share. Sell-side analysts predict that Nordstrom will post 3.31 earnings per share for the current year.

In other news, insider Peter E. Nordstrom sold 3,380 shares of the firm’s stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $32.46, for a total transaction of $109,714.80. Following the completion of the transaction, the insider now owns 2,530,989 shares in the company, valued at approximately $82,155,902.94. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Christine Deputy sold 4,812 shares of the firm’s stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $32.59, for a total transaction of $156,823.08. Following the transaction, the insider now owns 60,056 shares of the company’s stock, valued at approximately $1,957,225.04. The disclosure for this sale can be found here. Company insiders own 5.21% of the company’s stock.

Several large investors have recently bought and sold shares of the company. JPMorgan Chase & Co. lifted its stake in Nordstrom by 4.6% during the second quarter. JPMorgan Chase & Co. now owns 7,679,988 shares of the specialty retailer’s stock valued at $241,535,000 after buying an additional 340,606 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its stake in Nordstrom by 1,093.5% during the second quarter. Price T Rowe Associates Inc. MD now owns 2,383,907 shares of the specialty retailer’s stock valued at $75,951,000 after buying an additional 2,184,167 shares in the last quarter. Schroder Investment Management Group lifted its position in shares of Nordstrom by 50.3% in the second quarter. Schroder Investment Management Group now owns 2,072,022 shares of the specialty retailer’s stock worth $66,015,000 after purchasing an additional 693,633 shares in the last quarter. Northern Trust Corp lifted its position in shares of Nordstrom by 0.6% in the second quarter. Northern Trust Corp now owns 1,663,234 shares of the specialty retailer’s stock worth $52,990,000 after purchasing an additional 9,433 shares in the last quarter. Finally, Geode Capital Management LLC lifted its position in shares of Nordstrom by 5.1% in the fourth quarter. Geode Capital Management LLC now owns 1,650,673 shares of the specialty retailer’s stock worth $76,815,000 after purchasing an additional 80,459 shares in the last quarter. Institutional investors own 63.94% of the company’s stock.

About Nordstrom

Nordstrom, Inc, a fashion retailer, provides apparel, shoes, cosmetics, and accessories for women, men, young adults, and children. It offers a range of brand name and private label merchandise through various channels, such as Nordstrom branded full-line stores and online store at Nordstrom.com; Nordstrom Rack stores; Nordstromrack.com and HauteLook; Jeffrey boutiques; clearance stores that operate under the Last Chance name; Trunk Club clubhouses and TrunkClub.com; and Nordstrom Locals.

Further Reading: Price-Sales Ratio

Analyst Recommendations for Nordstrom (NYSE:JWN)

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