Nordstrom (NYSE:JWN) Stock Price Down 8.5% – Time to Sell?

Nordstrom, Inc. (NYSE:JWN)’s share price was down 8.5% during trading on Wednesday . The company traded as low as $21.87 and last traded at $22.52. Approximately 444,972 shares traded hands during mid-day trading, a decline of 85% from the average daily volume of 3,029,427 shares. The stock had previously closed at $24.62.

Wall Street Analyst Weigh In

JWN has been the subject of several recent analyst reports. Barclays raised shares of Nordstrom from an “underweight” rating to an “equal weight” rating and boosted their price target for the stock from $18.00 to $23.00 in a report on Thursday, September 5th. UBS Group boosted their target price on shares of Nordstrom from $13.00 to $14.50 and gave the stock a “sell” rating in a research note on Wednesday. Citigroup raised their price target on shares of Nordstrom from $22.00 to $23.00 and gave the company a “neutral” rating in a research note on Tuesday, November 19th. StockNews.com upgraded Nordstrom from a “hold” rating to a “buy” rating in a research note on Thursday, August 8th. Finally, The Goldman Sachs Group increased their target price on Nordstrom from $19.00 to $21.00 and gave the company a “neutral” rating in a report on Wednesday, August 28th. Four equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, Nordstrom presently has an average rating of “Hold” and a consensus target price of $20.65.

Nordstrom Stock Performance

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 50-day moving average price of $22.86 and a 200 day moving average price of $22.22. The firm has a market capitalization of $3.66 billion, a PE ratio of 12.87 and a beta of 2.59.

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

Nordstrom Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Tuesday, December 3rd will be issued a dividend of $0.19 per share. The ex-dividend date of this dividend is Tuesday, December 3rd. This represents a $0.76 annualized dividend and a yield of 3.41%. Nordstrom’s dividend payout ratio (DPR) is 44.44%.

Insider Transactions at Nordstrom

In other Nordstrom news, COO Alexis Depree sold 20,000 shares of the company’s stock in a transaction on Tuesday, September 24th. The shares were 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 $3,928,479.20. This represents a 10.56 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 5.78% of the company’s stock.

Institutional Trading of Nordstrom

A number of large investors have recently made changes to their positions in JWN. Venturi Wealth Management LLC boosted its holdings in shares of Nordstrom by 355.9% in the third quarter. Venturi Wealth Management LLC now owns 1,272 shares of the specialty retailer’s stock valued at $29,000 after acquiring an additional 993 shares during the period. Atlas Capital Advisors LLC boosted its stake in Nordstrom by 101.8% during the 2nd quarter. Atlas Capital Advisors LLC now owns 1,491 shares of the specialty retailer’s stock worth $32,000 after purchasing an additional 752 shares during the period. Rothschild Investment LLC purchased a new position in Nordstrom during the 2nd quarter worth $39,000. Blue Trust Inc. increased its stake in Nordstrom by 10,045.8% in the second quarter. Blue Trust Inc. now owns 2,435 shares of the specialty retailer’s stock valued at $49,000 after purchasing an additional 2,411 shares during the period. Finally, Point72 Hong Kong Ltd acquired a new stake in shares of Nordstrom during the second quarter worth about $71,000. 88.73% of the stock is owned by institutional investors and hedge funds.

Nordstrom Company Profile

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.