Nordstrom (NYSE:JWN) Reaches New 12-Month Low at $28.15

Nordstrom, Inc. (NYSE:JWN) shares hit a new 52-week low on Monday . The stock traded as low as $28.15 and last traded at $28.20, with a volume of 131551 shares changing hands. The stock had previously closed at $29.30.

Several equities research analysts recently weighed in on the stock. Piper Jaffray Companies reduced their price target on shares of Nordstrom from $40.00 to $33.00 and set a “neutral” rating for the company in a research report on Wednesday, May 22nd. Goldman Sachs Group downgraded shares of Nordstrom from a “neutral” rating to a “sell” rating and reduced their price target for the company from $37.00 to $30.00 in a research report on Thursday, June 27th. Credit Suisse Group reduced their price target on shares of Nordstrom from $40.00 to $36.00 and set a “neutral” rating for the company in a research report on Wednesday, May 22nd. Gordon Haskett raised shares of Nordstrom from a “reduce” rating to a “hold” rating and set a $33.71 price target for the company in a research report on Thursday, June 20th. Finally, Robert W. Baird reduced their price target on shares of Nordstrom from $45.00 to $38.00 and set a “neutral” rating for the company in a research report on Wednesday, May 22nd. Five research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and one has issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $40.11.

The company has a current ratio of 0.76, a quick ratio of 0.24 and a debt-to-equity ratio of 6.34. The company has a market capitalization of $4.66 billion, a price-to-earnings ratio of 8.01, a P/E/G ratio of 1.51 and a beta of 0.66. The business has a 50-day moving average of $30.76.

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

In other news, insider Christine Deputy sold 4,812 shares of Nordstrom stock in a transaction on 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 in the company, valued at approximately $1,957,225.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Peter E. Nordstrom sold 3,380 shares of Nordstrom stock in a transaction on Monday, June 10th. The stock was sold at an average price of $32.46, for a total transaction of $109,714.80. Following the transaction, the insider now owns 2,530,989 shares in the company, valued at approximately $82,155,902.94. The disclosure for this sale can be found here. Company insiders own 5.21% of the company’s stock.

Several institutional investors have recently modified their holdings of JWN. Capital Investment Advisory Services LLC purchased a new position in shares of Nordstrom during the 2nd quarter valued at $29,000. Edge Wealth Management LLC lifted its stake in shares of Nordstrom by 100.0% during the 2nd quarter. Edge Wealth Management LLC now owns 1,000 shares of the specialty retailer’s stock valued at $32,000 after buying an additional 500 shares in the last quarter. Resources Investment Advisors LLC. purchased a new position in shares of Nordstrom during the 2nd quarter valued at $35,000. Zions Bancorporation N.A. purchased a new position in shares of Nordstrom during the 1st quarter valued at $41,000. Finally, Steward Partners Investment Advisory LLC purchased a new position in shares of Nordstrom during the 2nd quarter valued at $47,000. Institutional investors and hedge funds own 62.80% of the company’s stock.

About Nordstrom (NYSE:JWN)

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.

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