Nordstrom (JWN) Receives Daily Coverage Optimism Rating of 0.14
- Author: Zachary Reyes Jun 10, 2017,
Jun 10, 2017, 15:02
In order to go forward with the decision and buy out the other shareholders, the Nordstrom family - which controls about 31 percent of shares - might need to find an investment partner or borrow against its real estate.
Nordstrom Inc. (JWN) belongs to the "Services" sector with an industry focus on "Apparel Stores", with Mr. Blake W. Nordstrom as Co-Pres and Director. The firm issued an accumulate rating and a $54.00 price target on the specialty retailer's stock.
A number of research firms recently weighed in on JWN. Susquehanna Bancshares Inc assumed coverage on Nordstrom in a research note on Friday, February 10th. On August 12 Goldman Sachs kept the company rating at "Neutral" but moved up the price target from $39.00 to $50.00. Finally, ValuEngine cut Nordstrom from a "buy" rating to a "hold" rating in a research note on Thursday. Zacks Investment Research upgraded shares of Nordstrom from a strong sell rating to a hold rating in a report on Tuesday, February 28th. Piper Jaffray Companies set a $42.00 target price on Nordstrom and gave the company a "hold" rating in a report on Saturday, May 13th.
Nordstrom (JWN) traded up 5.67% during trading on Tuesday, reaching $47.16. The stock's price is moved forward to its percent change from 52-week low of +27.48% and hanging back from its percent change from 52-week high of -28.96%. The stock's 50 day moving average is $44.65 and its 200 day moving average is $46.73.
Turning to market valuation, the P/E ratio is 20.96, the P/S ratio is 0.50 and the P/B ratio is finally 11.02. Nordstrom, Inc. Nordstrom also was the target of some unusual options trading activity on Wednesday. This is an increase of approximately 147% compared to the average daily volume of 811 put options. If you are viewing this article on another site, it was illegally copied and republished in violation of United States & worldwide copyright laws. The legal version of this article can be read at https://www.chaffeybreeze.com/2017/06/09/nordstrom-inc-jwn-lowered-to-hold-at-vetr-inc.html. The ex-dividend date of this dividend is Wednesday, May 24th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 3.14%. Nordstrom has a dividend payout ratio of 50.0% meaning its dividend is sufficiently covered by earnings. Following the transaction, the president now owns 2,140,587 shares in the company, valued at $93,757,710.60. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Nordstrom now has an average rating of Hold and an average price target of $47.10.
In other news, insider Daniel F. Little sold 7,423 shares of the stock in a transaction that occurred on Monday, April 3rd. The disclosure for this sale can be found here. Following the completion of the sale, the insider now owns 76,371 shares in the company, valued at $3,590,200.71.
Institutional investors have recently bought and sold shares of the company. Kanaly reported 3 shares or 0% of all its holdings. Gemmer Asset Management LLC now owns 2,252 shares of the specialty retailer's stock valued at $105,000 after buying an additional 18 shares during the last 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 during the last quarter. Skandinaviska Enskilda Banken AB publ now owns 3,354,037 shares of the specialty retailer's stock valued at $156,198,000 after buying an additional 816,498 shares during the last quarter. State Street Corp boosted its stake in shares of Nordstrom by 2.6% in the first quarter. Busey Trust CO now owns 5,313 shares of the specialty retailer's stock worth $255,000 after buying an additional 120 shares during the last quarter.
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Amid a tough retail environment, members of the Nordstrom family said they're considering taking the Seattle-based fashion retailer bearing their name private.
If you look at the company's income statement over the past years, you will see that the company is constantly posting gross profit: In 2014, JWN earned gross profit of 5.1 Billion, in 2015 5.27 Billion gross profit, while in 2016 Nordstrom Inc.
The company is up by 10.33% since yesterday's close of $40.45.