Nordstrom (JWN) Shares Gap Up to $49.86
Nordstrom (NYSE:JWN) shares gapped up before the market opened on Wednesday . The stock had previously closed at $48.66, but opened at $49.86. Nordstrom shares last traded at $51.05, with a volume of 3039900 shares trading hands.
A number of research firms recently commented on JWN. ValuEngine lowered shares of Nordstrom from a “hold” rating to a “sell” rating in a research note on Friday, May 11th. Zacks Investment Research lowered shares of Nordstrom from a “buy” rating to a “hold” rating in a research note on Tuesday, May 8th. BMO Capital Markets raised their price objective on shares of Nordstrom from $50.00 to $55.00 and gave the company a “market perform” rating in a research note on Monday, March 5th. Piper Jaffray set a $48.00 price objective on shares of Nordstrom and gave the company a “hold” rating in a research note on Thursday, March 1st. Finally, Robert W. Baird reiterated a “neutral” rating on shares of Nordstrom in a research note on Friday, March 2nd. Three research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and four have issued a buy rating to the company’s stock. Nordstrom presently has an average rating of “Hold” and an average price target of $48.32.
The company has a debt-to-equity ratio of 2.74, a quick ratio of 0.45 and a current ratio of 1.07. The stock has a market capitalization of $8.28 billion, a PE ratio of 17.25, a P/E/G ratio of 2.40 and a beta of 0.82.
The firm also recently declared a quarterly dividend, which will be paid on Monday, June 4th. Shareholders of record on Friday, May 18th will be given a $0.37 dividend. The ex-dividend date of this dividend is Thursday, May 17th. This represents a $1.48 annualized dividend and a yield of 2.90%. Nordstrom’s dividend payout ratio (DPR) is 50.00%.
In other Nordstrom news, CMO Scott A. Meden sold 10,000 shares of Nordstrom stock in a transaction that occurred on Thursday, April 12th. The shares were sold at an average price of $49.02, for a total transaction of $490,200.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Ken Worzel sold 535 shares of Nordstrom stock in a transaction that occurred on Monday, May 14th. The stock was sold at an average price of $49.00, for a total transaction of $26,215.00. Following the transaction, the insider now owns 124,619 shares in the company, valued at $6,106,331. The disclosure for this sale can be found here. In the last 90 days, insiders sold 36,428 shares of company stock worth $1,793,068. 7.05% of the stock is currently owned by company insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the business. Buckley Wealth Management LLC purchased a new position in Nordstrom during the 4th quarter worth approximately $625,000. Wealthstreet Investment Advisors LLC purchased a new position in Nordstrom during the 4th quarter worth approximately $332,000. Alliancebernstein L.P. grew its position in Nordstrom by 2.9% during the 4th quarter. Alliancebernstein L.P. now owns 238,319 shares of the specialty retailer’s stock worth $11,292,000 after purchasing an additional 6,632 shares in the last quarter. Two Sigma Advisers LP grew its position in Nordstrom by 0.6% during the 4th quarter. Two Sigma Advisers LP now owns 542,185 shares of the specialty retailer’s stock worth $25,689,000 after purchasing an additional 3,400 shares in the last quarter. Finally, Spark Investment Management LLC grew its position in Nordstrom by 400.2% during the 4th quarter. Spark Investment Management LLC now owns 289,600 shares of the specialty retailer’s stock worth $13,721,000 after purchasing an additional 231,700 shares in the last quarter. Hedge funds and other institutional investors own 59.26% of the company’s stock.
Nordstrom Company Profile
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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