Nordstrom, Inc. (JWN) Downgraded to “Hold” at Gordon Haskett

Gordon Haskett downgraded shares of Nordstrom, Inc. (NYSE:JWN) from an accumulate rating to a hold rating in a report published on Wednesday, Marketbeat Ratings reports.

Other analysts also recently issued reports about the stock. Vetr downgraded shares of Nordstrom from a sell rating to a strong sell rating and set a $41.54 price target on the stock. in a research report on Wednesday, July 5th. UBS AG downgraded shares of Nordstrom from a buy rating to a neutral rating and dropped their target price for the stock from $51.00 to $46.00 in a report on Friday, June 9th. Northcoast Research restated a neutral rating on shares of Nordstrom in a report on Tuesday, May 16th. Robert W. Baird set a $50.00 target price on shares of Nordstrom and gave the stock a hold rating in a report on Saturday, August 12th. Finally, Guggenheim restated a neutral rating on shares of Nordstrom in a report on Friday, June 9th. Four equities research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and eight have issued a buy rating to the stock. The stock currently has a consensus rating of Hold and a consensus target price of $48.26.

Shares of Nordstrom (JWN) opened at 46.74 on Wednesday. The firm has a market cap of $7.77 billion, a price-to-earnings ratio of 22.14 and a beta of 0.82. The stock’s 50 day moving average is $45.84 and its 200-day moving average is $45.62. Nordstrom has a 12-month low of $39.53 and a 12-month high of $62.82.

Nordstrom (NYSE:JWN) last announced its quarterly earnings results on Thursday, August 10th. The specialty retailer reported $0.65 earnings per share for the quarter, beating analysts’ consensus estimates of $0.62 by $0.03. The business had revenue of $3.72 billion for the quarter, compared to the consensus estimate of $3.70 billion. Nordstrom had a net margin of 2.44% and a return on equity of 71.57%. Nordstrom’s revenue for the quarter was up 3.5% on a year-over-year basis. During the same period last year, the company posted $0.67 EPS. On average, analysts anticipate that Nordstrom will post $2.97 EPS for the current fiscal year.

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The company also recently announced a quarterly dividend, which was paid on Tuesday, September 12th. Stockholders of record on Monday, August 28th were issued a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 3.17%. The ex-dividend date was Thursday, August 24th. Nordstrom’s dividend payout ratio is currently 70.14%.

A number of hedge funds have recently bought and sold shares of JWN. Canada Pension Plan Investment Board raised its stake in Nordstrom by 20.8% in the first quarter. Canada Pension Plan Investment Board now owns 33,612 shares of the specialty retailer’s stock valued at $1,565,000 after purchasing an additional 5,780 shares in the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its stake in Nordstrom by 3.7% in the first quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 20,732 shares of the specialty retailer’s stock valued at $965,000 after purchasing an additional 748 shares in the last quarter. First Trust Advisors LP raised its stake in Nordstrom by 72.8% in the first quarter. First Trust Advisors LP now owns 264,500 shares of the specialty retailer’s stock valued at $12,318,000 after purchasing an additional 111,458 shares in the last quarter. DekaBank Deutsche Girozentrale raised its stake in Nordstrom by 76.6% in the first quarter. DekaBank Deutsche Girozentrale now owns 12,094 shares of the specialty retailer’s stock valued at $579,000 after purchasing an additional 5,247 shares in the last quarter. Finally, Daiwa Securities Group Inc. raised its stake in Nordstrom by 18.8% in the first quarter. Daiwa Securities Group Inc. now owns 3,800 shares of the specialty retailer’s stock valued at $177,000 after purchasing an additional 600 shares in the last quarter. 63.71% of the stock is 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.

Analyst Recommendations for Nordstrom (NYSE:JWN)

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