Nordstrom (NYSE:JWN) Shares Gap Down – Here’s What Happened

Nordstrom, Inc. (NYSE:JWN) gapped down before the market opened on Tuesday . The stock had previously closed at $24.90, but opened at $24.16. Nordstrom shares last traded at $24.44, with a volume of 360,179 shares traded.

Analyst Ratings Changes

Several equities analysts recently weighed in on JWN shares. Bank of America increased their target price on Nordstrom from $20.00 to $22.00 and gave the stock an “underperform” rating in a research report on Wednesday. TD Cowen raised their price objective on Nordstrom from $24.00 to $25.00 and gave the stock a “hold” rating in a report on Wednesday, August 28th. Telsey Advisory Group raised their price objective on Nordstrom from $24.00 to $26.00 and gave the stock a “market perform” rating in a report on Wednesday. Barclays upgraded Nordstrom from an “underweight” rating to an “equal weight” rating and raised their price objective for the stock from $18.00 to $23.00 in a report on Thursday, September 5th. Finally, UBS Group raised their price objective on Nordstrom from $13.00 to $14.50 and gave the stock a “sell” rating in a report on Wednesday. Four analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $20.65.

Nordstrom Trading Down 8.1 %

The company has a quick ratio of 0.41, a current ratio of 1.07 and a debt-to-equity ratio of 2.76. The firm has a market cap of $3.71 billion, a price-to-earnings ratio of 13.23 and a beta of 2.59. The business has a 50 day moving average price of $22.86 and a 200-day moving average price of $22.23.

Nordstrom (NYSE:JWN) last posted its earnings results on Tuesday, November 26th. The specialty retailer reported $0.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.22 by $0.11. Nordstrom had a negative return on equity of 21.26% and a negative net margin of 1.44%. The business had revenue of $3.35 billion during the quarter, compared to analyst estimates of $3.34 billion. During the same quarter last year, the firm earned $0.25 earnings per share. The company’s revenue for the quarter was up 4.6% compared to the same quarter last year. As a group, research analysts expect that Nordstrom, Inc. will post 1.91 EPS for the current fiscal year.

Nordstrom Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Tuesday, December 3rd will be paid a dividend of $0.19 per share. The ex-dividend date is Tuesday, December 3rd. This represents a $0.76 dividend on an annualized basis and a yield of 3.36%. Nordstrom’s dividend payout ratio (DPR) is presently 44.44%.

Insider Buying and Selling at Nordstrom

In other news, COO Alexis Depree sold 20,000 shares of Nordstrom stock in a transaction that occurred on Tuesday, September 24th. The stock was sold at an average price of $23.20, for a total value of $464,000.00. Following the completion of the transaction, the chief operating officer now owns 169,331 shares in the company, valued at approximately $3,928,479.20. This trade represents a 10.56 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 5.78% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. grew its position in shares of Nordstrom by 5.7% in the 1st quarter. Vanguard Group Inc. now owns 10,653,007 shares of the specialty retailer’s stock worth $215,936,000 after acquiring an additional 579,001 shares in the last quarter. Victory Capital Management Inc. grew its position in shares of Nordstrom by 1.7% in the 2nd quarter. Victory Capital Management Inc. now owns 3,371,988 shares of the specialty retailer’s stock worth $71,554,000 after acquiring an additional 57,546 shares in the last quarter. Dimensional Fund Advisors LP grew its position in shares of Nordstrom by 4.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,136,639 shares of the specialty retailer’s stock worth $66,557,000 after acquiring an additional 137,094 shares in the last quarter. American Century Companies Inc. grew its position in shares of Nordstrom by 66.2% in the 2nd quarter. American Century Companies Inc. now owns 1,661,227 shares of the specialty retailer’s stock worth $35,251,000 after acquiring an additional 661,769 shares in the last quarter. Finally, Geode Capital Management LLC grew its position in shares of Nordstrom by 0.3% in the 3rd quarter. Geode Capital Management LLC now owns 1,625,616 shares of the specialty retailer’s stock worth $36,570,000 after acquiring an additional 5,407 shares in the last quarter. Institutional investors and hedge funds own 88.73% of the company’s stock.

About Nordstrom

Nordstrom, Inc, a fashion retailer, provides apparels, shoes, beauty, accessories, and home goods 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 stores and online at Nordstrom.com; Nordstrom.ca; Nordstrom stores; Nordstrom Rack stores; Nordstrom Locals; ASOS; Nordstromrack.com; mobile application; and clearance stores under the Last Chance name.