Nordstrom, Inc. (NYSE:JWN) was upgraded by research analysts at Vetr from a “strong sell” rating to a “sell” rating in a research note issued to investors on Tuesday. The firm currently has a $41.54 target price on the specialty retailer’s stock. Vetr‘s target price indicates a potential downside of 10.13% from the company’s current price.
JWN has been the subject of several other research reports. Citigroup Inc. reduced their price target on shares of Nordstrom from $50.00 to $46.00 and set a “neutral” rating for the company in a report on Friday, May 12th. Zacks Investment Research cut shares of Nordstrom from a “hold” rating to a “sell” rating in a report on Wednesday, April 26th. Cowen and Company reiterated an “outperform” rating and issued a $49.00 price target on shares of Nordstrom in a report on Friday, June 9th. Northcoast Research reiterated a “neutral” rating on shares of Nordstrom in a report on Tuesday, May 16th. Finally, Maxim Group set a $61.00 price target on shares of Nordstrom and gave the company a “buy” rating in a report on Thursday, May 4th. Five research analysts have rated the stock with a sell rating, seventeen have given a hold rating and five have assigned a buy rating to the company’s stock. Nordstrom has a consensus rating of “Hold” and an average price target of $47.28.
Shares of Nordstrom (JWN) opened at 46.22 on Tuesday. The firm’s 50 day moving average is $44.16 and its 200-day moving average is $45.73. The firm has a market cap of $7.67 billion, a price-to-earnings ratio of 21.64 and a beta of 0.83. Nordstrom has a 52 week low of $39.05 and a 52 week high of $62.82.
The firm also recently declared a quarterly dividend, which was paid on Monday, June 12th. Investors of record on Friday, May 26th were given a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 3.20%. The ex-dividend date was Wednesday, May 24th. Nordstrom’s dividend payout ratio is 69.48%.
A number of institutional investors have recently added to or reduced their stakes in the company. Russell Investments Group Ltd. acquired a new position in Nordstrom during the fourth quarter worth approximately $2,766,000. Comerica Bank raised its position in Nordstrom by 8.3% in the fourth quarter. Comerica Bank now owns 31,052 shares of the specialty retailer’s stock worth $1,372,000 after buying an additional 2,385 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its position in Nordstrom by 0.3% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 6,658 shares of the specialty retailer’s stock worth $319,000 after buying an additional 21 shares in the last quarter. Dimensional Fund Advisors LP raised its position in Nordstrom by 0.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 672,105 shares of the specialty retailer’s stock worth $32,216,000 after buying an additional 2,373 shares in the last quarter. Finally, FMR LLC raised its position in Nordstrom by 42.2% in the fourth quarter. FMR LLC now owns 181,943 shares of the specialty retailer’s stock worth $8,720,000 after buying an additional 54,007 shares in the last quarter. 68.41% of the stock is currently owned by institutional investors and hedge funds.
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.
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