Nordstrom, Inc. (NYSE:JWN) had its price objective reduced by Citigroup Inc from $50.00 to $46.00 in a report published on Friday, May 12th. They currently have a neutral rating on the specialty retailer’s stock.
Several other research analysts also recently commented on the company. Nomura restated a hold rating and issued a $42.00 target price on shares of Nordstrom in a research note on Friday, May 12th. Maxim Group cut their target price on Nordstrom from $61.00 to $56.00 and set a buy rating for the company in a research note on Friday, May 12th. Zacks Investment Research upgraded Nordstrom from a sell rating to a hold rating in a research note on Wednesday, May 10th. Gordon Haskett began coverage on Nordstrom in a research report on Tuesday, May 9th. They set an accumulate rating and a $54.00 price target for the company. Finally, Atlantic Securities upgraded Nordstrom from a neutral rating to an overweight rating and lifted their price target for the company from $45.00 to $58.00 in a research report on Thursday, May 4th. Four investment analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and eight have issued a buy rating to the company. Nordstrom currently has an average rating of Hold and a consensus price target of $47.10.
The company also recently declared a quarterly dividend, which will be paid on Monday, June 12th. Investors of record on Friday, May 26th will be given 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 dividend yield of 3.55%. Nordstrom’s dividend payout ratio is presently 79.14%. In related news, President Blake W. Nordstrom sold 3,169 shares of Nordstrom stock in a transaction that occurred on Monday, March 13th. The stock was sold at an average price of $43.80, for a total transaction of $138,802.20. Following the sale, the president now directly owns 2,140,587 shares in the company, valued at $93,757,710.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 owns 2,312,789 shares in the company, valued at $103,497,307.75. The disclosure for this sale can be found here. Insiders have sold 13,889 shares of company stock worth $635,298 over the last 90 days. 7.03% of the stock is currently owned by corporate insiders.
Large investors have recently added to or reduced their stakes in the stock. Parallel Advisors LLC increased its stake in Nordstrom by 12.7% in the first quarter. Parallel Advisors LLC now owns 2,099 shares of the specialty retailer’s stock valued at $104,000 after buying an additional 236 shares during the period. 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 valued at $105,000 after buying an additional 18 shares during the period. Ledyard National Bank increased its stake in Nordstrom by 291.1% in the first quarter. Ledyard National Bank now owns 2,362 shares of the specialty retailer’s stock valued at $110,000 after buying an additional 1,758 shares during the period. Advisory Services Network LLC bought a new stake in Nordstrom during the first quarter valued at approximately $113,000. Finally, Johnson Financial Group Inc. increased its stake in Nordstrom by 7.9% in the fourth quarter. Johnson Financial Group Inc. now owns 2,600 shares of the specialty retailer’s stock valued at $125,000 after buying an additional 190 shares during the period. Institutional investors own 66.03% of the company’s stock. About Nordstrom