Vetr Inc. Lowers Nordstrom, Inc. (JWN) to Strong Sell

Vetr cut shares of Nordstrom, Inc. (NYSE:JWN) from a sell rating to a strong sell rating in a research note published on Wednesday morning. They currently have $41.54 target price on the specialty retailer’s stock.

Other analysts have also issued reports about the company. Atlantic Securities raised Nordstrom from a neutral rating to an overweight rating and boosted their price objective for the company from $45.00 to $58.00 in a report on Thursday, May 4th. Zacks Investment Research raised Nordstrom from a sell rating to a hold rating in a report on Wednesday, May 10th. Maxim Group set a $61.00 price objective on Nordstrom and gave the company a buy rating in a report on Thursday, May 4th. Gordon Haskett initiated coverage on Nordstrom in a report on Tuesday, May 9th. They issued an accumulate rating and a $54.00 price objective for the company. Finally, TheStreet raised Nordstrom from a c rating to a b- rating in a report on Wednesday, April 26th. Five investment analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and five have given a buy rating to the company’s stock. The company presently has an average rating of Hold and an average price target of $47.28.

Nordstrom (JWN) traded down 3.09% during midday trading on Wednesday, hitting $46.07. The company had a trading volume of 930,843 shares. The firm has a market cap of $7.65 billion, a price-to-earnings ratio of 21.57 and a beta of 0.83. The stock has a 50 day moving average of $44.16 and a 200 day moving average of $45.73. Nordstrom has a 52-week low of $39.05 and a 52-week high of $62.82.

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The company also recently announced a quarterly dividend, which was paid on Monday, June 12th. Shareholders of record on Friday, May 26th were given a $0.37 dividend. The ex-dividend date of this dividend was Wednesday, May 24th. This represents a $1.48 dividend on an annualized basis and a yield of 3.11%. Nordstrom’s dividend payout ratio (DPR) is 69.48%.

A number of large investors have recently added to or reduced their stakes in JWN. Parallel Advisors LLC increased its stake in Nordstrom by 12.7% in the first quarter. Parallel Advisors LLC now owns 2,099 shares of the specialty retailer’s stock worth $104,000 after buying an additional 236 shares during the period. Gemmer Asset Management LLC increased its stake in Nordstrom by 0.8% in the first quarter. Gemmer Asset Management LLC now owns 2,252 shares of the specialty retailer’s stock worth $105,000 after buying an additional 18 shares during the period. Ledyard National Bank increased its stake in Nordstrom by 291.1% in the first quarter. Ledyard National Bank now owns 2,362 shares of the specialty retailer’s stock worth $110,000 after buying an additional 1,758 shares during the period. Advisory Services Network LLC purchased a new stake in Nordstrom during the first quarter worth $113,000. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main purchased a new stake in Nordstrom during the fourth quarter worth $133,000. Hedge funds and other institutional investors own 68.41% of the company’s stock.

Nordstrom Company Profile

Nordstrom, Inc is a fashion specialty retailer in the United States. The Company’s segments include Retail and Credit. As of March 20, 2017, the Company operated 344 the United States stores located in 40 states as well as an e-commerce business. The Company also offers its customers a variety of payment products and services, including credit and debit cards.

To view Vetr’s full report, visit Vetr’s official website.

Analyst Recommendations for Nordstrom (NYSE:JWN)

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