Investors Buy Nordstrom (JWN) on Weakness After Insider Selling

Investors bought shares of Nordstrom, Inc. (NYSE:JWN) on weakness during trading on Tuesday following insider selling activity. $20.21 million flowed into the stock on the tick-up and $12.90 million flowed out of the stock on the tick-down, for a money net flow of $7.31 million into the stock. Of all stocks tracked, Nordstrom had the 27th highest net in-flow for the day. Nordstrom traded down ($0.70) for the day and closed at $47.15Specifically, insider Ken Worzel sold 13,703 shares of the business’s stock in a transaction dated Wednesday, April 11th. The stock was sold at an average price of $48.97, for a total transaction of $671,035.91. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CMO Scott A. Meden sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, April 12th. The shares were sold at an average price of $49.02, for a total value of $490,200.00. The disclosure for this sale can be found here. Insiders sold 24,703 shares of company stock worth $1,208,766 over the last quarter. 7.32% of the stock is currently owned by corporate insiders.

Several equities research analysts have recently weighed in on JWN shares. Zacks Investment Research upgraded Nordstrom from a “hold” rating to a “buy” rating and set a $56.00 price objective on the stock in a research note on Monday, January 15th. Credit Suisse Group started coverage on Nordstrom in a research note on Monday, March 12th. They issued a “neutral” rating and a $54.00 price objective on the stock. Piper Jaffray set a $45.00 price objective on Nordstrom and gave the company a “hold” rating in a research note on Wednesday, January 10th. JPMorgan Chase upgraded Nordstrom from an “underweight” rating to a “neutral” rating and upped their price objective for the company from $33.00 to $48.00 in a research note on Tuesday, January 2nd. Finally, Robert W. Baird set a $49.00 price objective on Nordstrom and gave the company a “hold” rating in a research note on Friday, December 22nd. Two research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and six have assigned a buy rating to the company’s stock. Nordstrom currently has an average rating of “Hold” and a consensus price target of $48.92.

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The company has a quick ratio of 0.45, a current ratio of 1.07 and a debt-to-equity ratio of 2.74. The firm has a market capitalization of $7,914.13, a PE ratio of 15.93, a price-to-earnings-growth ratio of 2.31 and a beta of 0.83.

Nordstrom (NYSE:JWN) last posted its quarterly earnings data on Thursday, March 1st. The specialty retailer reported $1.20 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.24 by ($0.04). Nordstrom had a return on equity of 60.72% and a net margin of 2.86%. The firm had revenue of $4.60 billion for the quarter, compared to analyst estimates of $4.57 billion. During the same period in the prior year, the company posted $1.27 EPS. The firm’s quarterly revenue was up 8.4% compared to the same quarter last year. equities research analysts predict that Nordstrom, Inc. will post 3.42 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 20th. Shareholders of record on Monday, March 5th were issued a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 3.14%. The ex-dividend date was Friday, March 2nd. Nordstrom’s dividend payout ratio is 50.00%.

A number of large investors have recently bought and sold shares of JWN. Bank of New York Mellon Corp lifted its holdings in Nordstrom by 11.8% during the 4th quarter. Bank of New York Mellon Corp now owns 10,245,078 shares of the specialty retailer’s stock worth $485,413,000 after buying an additional 1,078,880 shares in the last quarter. Millennium Management LLC lifted its holdings in Nordstrom by 301.9% during the 4th quarter. Millennium Management LLC now owns 1,272,685 shares of the specialty retailer’s stock worth $60,300,000 after buying an additional 955,994 shares in the last quarter. USS Investment Management Ltd acquired a new position in Nordstrom during the 4th quarter worth $27,700,000. Disciplined Growth Investors Inc. MN lifted its holdings in Nordstrom by 60.6% during the 4th quarter. Disciplined Growth Investors Inc. MN now owns 1,428,767 shares of the specialty retailer’s stock worth $67,695,000 after buying an additional 539,040 shares in the last quarter. Finally, Schroder Investment Management Group lifted its holdings in Nordstrom by 97.6% during the 4th quarter. Schroder Investment Management Group now owns 1,036,341 shares of the specialty retailer’s stock worth $49,102,000 after buying an additional 511,905 shares in the last quarter. 58.91% of the stock is currently owned by hedge funds and other institutional investors.

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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.

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