The Nordstrom, Inc. (JWN) Rating Lowered to Hold at Vetr Inc.

The Nordstrom, Inc. (JWN) Rating Lowered to Hold at Vetr Inc.

Several other research firms also recently issued reports on JWN. Piper Jaffray Companies set a $42.00 price objective on Nordstrom and gave the stock a “hold” rating in a report on Saturday, May 13th. William Blair reissued an “outperform” rating on shares of Nordstrom in a research note on Monday, February 6th. Robert W. Baird set a $50.00 price target on Nordstrom and gave the company a “hold” rating in a research note on Saturday, May 13th. Zacks Investment Research raised Nordstrom from a “strong sell” rating to a “hold” rating in a research note on Tuesday, February 28th. Finally, Royal Bank of Canada cut their price target on Nordstrom from $50.00 to $47.00 and set an “outperform” rating on the stock in a research note on Monday, February 27th. Four research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and eight have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $47.10.

Nordstrom, Inc. (NYSE:JWN) was downgraded by research analysts at Vetr from a “strong-buy” rating to a “hold” rating in a research report issued to clients and investors on Monday, May 15th. They currently have a $42.98 price target on the specialty retailer’s stock. Vetr‘s price objective indicates a potential upside of 1.20% from the company’s previous close.

Shares of Nordstrom (NYSE:JWN) opened at 42.47 on Monday. The company’s 50-day moving average price is $45.15 and its 200 day moving average price is $47.30. Nordstrom has a 1-year low of $35.01 and a 1-year high of $62.82. The stock has a market cap of $7.05 billion, a PE ratio of 19.88 and a beta of 1.01.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 12th. Shareholders of record on Friday, May 26th will be given a dividend of $0.37 per share. The ex-dividend date is Wednesday, May 24th. This represents a $1.48 annualized dividend and a yield of 3.48%. Nordstrom’s dividend payout ratio (DPR) is presently 79.14%. In related news, insider Peter E. Nordstrom sold 3,297 shares of Nordstrom stock in a transaction that occurred on Friday, March 10th. The shares were sold at an average price of $44.75, for a total value of $147,540.75. Following the transaction, the insider now directly owns 2,312,789 shares of the company’s stock, valued at $103,497,307.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, President Blake W. Nordstrom sold 3,169 shares of Nordstrom stock in a transaction that occurred on Monday, March 13th. The shares were sold at an average price of $43.80, for a total transaction of $138,802.20. Following the completion of the transaction, the president now directly owns 2,140,587 shares in the company, valued at $93,757,710.60. The disclosure for this sale can be found here. Insiders have sold 13,889 shares of company stock valued at $635,298 over the last 90 days. Company insiders own 7.03% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Parallel Advisors LLC boosted its position in shares of 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 boosted 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 last quarter. Ledyard National Bank boosted 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 last quarter. Advisory Services Network LLC bought a new stake in Nordstrom during the first quarter worth $113,000. Finally, Sowell Financial Services LLC bought a new stake in Nordstrom during the fourth quarter worth $123,000. 66.03% of the stock is currently owned by institutional investors and hedge funds. About Nordstrom

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.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “JWN”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”}); To view Vetr’s full report, visit Vetr’s official website.

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