Nordstrom (NYSE:JWN) Shares Gap Down to $26.02

Shares of Nordstrom, Inc. (NYSE:JWN) gapped down prior to trading on Thursday . The stock had previously closed at $24.31, but opened at $26.02. Nordstrom shares last traded at $25.12, with a volume of 175,440 shares trading hands.

Several brokerages recently weighed in on JWN. UBS Group downgraded shares of Nordstrom from a “buy” rating to a “neutral” rating and cut their target price for the company from $65.00 to $33.00 in a research note on Tuesday, July 2nd. Citigroup cut their target price on shares of Nordstrom from $48.00 to $37.00 and set a “neutral” rating for the company in a research note on Wednesday, May 22nd. Zacks Investment Research downgraded shares of Nordstrom from a “hold” rating to a “strong sell” rating in a research note on Friday, May 24th. ValuEngine downgraded shares of Nordstrom from a “sell” rating to a “strong sell” rating in a research note on Monday, April 29th. Finally, Deutsche Bank cut their target price on shares of Nordstrom from $47.00 to $36.00 and set a “hold” rating for the company in a research note on Wednesday, May 22nd. Five investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating and two have given a buy rating to the stock. Nordstrom has a consensus rating of “Hold” and an average target price of $39.56.

The stock’s 50 day moving average price is $30.40 and its 200 day moving average price is $38.08. 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 cap of $4.42 billion, a price-to-earnings ratio of 7.14, a P/E/G ratio of 1.44 and a beta of 0.66.

Nordstrom (NYSE:JWN) last posted its quarterly earnings data on Tuesday, May 21st. The specialty retailer reported $0.23 EPS for the quarter, missing the Zacks’ consensus estimate of $0.43 by ($0.20). Nordstrom had a net margin of 3.27% and a return on equity of 58.16%. The company had revenue of $3.44 billion for the quarter, compared to analyst estimates of $3.54 billion. During the same period in the prior year, the company earned $0.51 EPS. On average, equities 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 the business’s stock in a transaction dated Friday, June 14th. The stock was sold at an average price of $32.59, for a total transaction of $156,823.08. Following the completion of the sale, the insider now owns 60,056 shares in the company, valued at approximately $1,957,225.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Peter E. Nordstrom sold 3,380 shares of the business’s stock in a transaction dated Monday, June 10th. The stock was sold at an average price of $32.46, for a total value of $109,714.80. Following the sale, the insider now owns 2,530,989 shares of the company’s stock, valued at approximately $82,155,902.94. The disclosure for this sale can be found here. 5.21% of the stock is currently owned by insiders.

Several large investors have recently modified their holdings of the company. Piedmont Investment Advisors Inc. grew its holdings in shares of Nordstrom by 2.7% during the 1st quarter. Piedmont Investment Advisors Inc. now owns 10,476 shares of the specialty retailer’s stock worth $465,000 after purchasing an additional 276 shares during the period. BTIM Corp. boosted its holdings in Nordstrom by 1.2% in the 1st quarter. BTIM Corp. now owns 27,470 shares of the specialty retailer’s stock worth $1,219,000 after acquiring an additional 325 shares during the period. GSA Capital Partners LLP boosted its holdings in Nordstrom by 6.0% in the 2nd quarter. GSA Capital Partners LLP now owns 6,524 shares of the specialty retailer’s stock worth $208,000 after acquiring an additional 368 shares during the period. Pinnacle Wealth Management Advisory Group LLC boosted its holdings in Nordstrom by 8.5% in the 1st quarter. Pinnacle Wealth Management Advisory Group LLC now owns 4,965 shares of the specialty retailer’s stock worth $220,000 after acquiring an additional 390 shares during the period. Finally, Bailard Inc. boosted its holdings in Nordstrom by 0.8% in the 1st quarter. Bailard Inc. now owns 59,397 shares of the specialty retailer’s stock worth $2,636,000 after acquiring an additional 465 shares during the period. Institutional investors and hedge funds own 63.94% of the company’s stock.

Nordstrom Company Profile (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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