Latest Stocks: Maxim Group Lowers Nordstrom, Inc. (JWN) Price Target to $56.00

Latest Stocks: Maxim Group Lowers Nordstrom, Inc. (JWN) Price Target to $56.00

Nordstrom, Inc. (NYSE:JWN) had its price objective reduced by Maxim Group from $61.00 to $56.00 in a report published on Friday, May 12th. They currently have a buy rating on the specialty retailer’s stock.

A number of other brokerages have also recently issued reports on JWN. Vetr cut shares of Nordstrom from a strong-buy rating to a buy rating and set a $48.92 price objective for the company. in a research note on Monday, April 10th. William Blair restated an outperform rating on shares of Nordstrom in a research note on Monday, February 6th. Zacks Investment Research upgraded shares of Nordstrom from a strong sell rating to a hold rating in a research note on Tuesday, February 28th. Royal Bank of Canada dropped their price objective on shares of Nordstrom from $50.00 to $47.00 and set an outperform rating for the company in a research note on Monday, February 27th. Finally, Atlantic Securities upgraded shares of Nordstrom from a neutral rating to an overweight rating and increased their price objective for the company from $45.00 to $58.00 in a research note on Thursday, May 4th. Four equities research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and eight have assigned a buy rating to the company’s stock. The company presently has a consensus rating of Hold and a consensus price target of $47.10.

The business also recently announced a quarterly dividend, which will be paid on Monday, June 12th. Shareholders of record on Friday, May 26th will be issued a dividend of $0.37 per share. The ex-dividend date of this dividend is Wednesday, May 24th. This represents a $1.48 annualized dividend and a yield of 3.55%. Nordstrom’s dividend payout ratio (DPR) is currently 79.14%. In other news, insider Peter E. Nordstrom sold 3,297 shares of Nordstrom stock in a transaction that occurred on Friday, March 10th. The shares were sold at an average price of $44.75, for a total value of $147,540.75. Following the sale, the insider now directly owns 2,312,789 shares in the company, valued at $103,497,307.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, President Blake W. Nordstrom sold 3,169 shares of Nordstrom stock in a transaction that occurred on Monday, March 13th. The shares were sold at an average price of $43.80, for a total transaction of $138,802.20. Following the completion of the sale, the president now owns 2,140,587 shares in the company, valued at $93,757,710.60. The disclosure for this sale can be found here. Insiders have sold a total of 13,889 shares of company stock worth $635,298 over the last 90 days. Corporate insiders own 7.03% of the company’s stock.

Hedge funds have recently bought and sold shares of the stock. Gemmer Asset Management LLC increased its stake in Nordstrom by 0.8% in the first quarter. Gemmer Asset Management LLC now owns 2,252 shares of the specialty retailer’s stock worth $105,000 after buying an additional 18 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake in Nordstrom by 0.3% in the fourth 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 period. Synovus Financial Corp increased its stake in Nordstrom by 0.8% in the third quarter. Synovus Financial Corp now owns 3,070 shares of the specialty retailer’s stock worth $158,000 after buying an additional 24 shares during the period. Mosaic Family Wealth LLC increased its stake in Nordstrom by 3.8% in the first quarter. Mosaic Family Wealth LLC now owns 2,953 shares of the specialty retailer’s stock worth $138,000 after buying an additional 109 shares during the period. Finally, Busey Trust CO increased its stake in Nordstrom by 2.3% in the fourth 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 period. Institutional investors own 66.03% of the company’s stock. Nordstrom Company Profile

Related posts

Leave a Comment