Insider Selling: Nordstrom Inc. (JWN) Director Sells $1,432,294.92 in Stock
Nordstrom Inc. (NYSE:JWN) Director Enrique Hernandez, Jr. sold 24,534 shares of Nordstrom stock in a transaction dated Wednesday, November 23rd. The shares were sold at an average price of $58.38, for a total value of $1,432,294.92. Following the transaction, the director now owns 3,772 shares of the company’s stock, valued at approximately $220,209.36. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.
Shares of Nordstrom Inc. (NYSE:JWN) opened at 55.92 on Thursday. Nordstrom Inc. has a 52-week low of $35.01 and a 52-week high of $62.82. The stock has a market cap of $9.69 billion, a price-to-earnings ratio of 29.76 and a beta of 1.02. The stock’s 50 day moving average is $54.76 and its 200 day moving average is $47.14.
Nordstrom (NYSE:JWN) last posted its quarterly earnings results on Thursday, November 10th. The company reported $0.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.52 by $0.32. The firm earned $3.47 billion during the quarter, compared to analysts’ expectations of $3.49 billion. Nordstrom had a net margin of 2.28% and a return on equity of 58.85%. The firm’s revenue for the quarter was up 7.2% on a year-over-year basis. During the same period in the prior year, the company posted $0.57 earnings per share. On average, equities analysts expect that Nordstrom Inc. will post $2.96 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 13th. Investors of record on Monday, November 28th will be issued a dividend of $0.37 per share. The ex-dividend date of this dividend is Wednesday, November 23rd. This represents a $1.48 annualized dividend and a yield of 2.65%. Nordstrom’s dividend payout ratio is currently 79.14%.
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A number of hedge funds and other institutional investors have recently bought and sold shares of the company. RWC Asset Management LLP bought a new position in shares of Nordstrom during the third quarter worth about $13,592,000. HighPoint Advisor Group LLC boosted its position in shares of Nordstrom by 65.0% in the third quarter. HighPoint Advisor Group LLC now owns 17,777 shares of the company’s stock worth $1,040,000 after buying an additional 7,001 shares during the period. Auxier Asset Management bought a new position in shares of Nordstrom during the third quarter worth about $212,000. Quantitative Systematic Strategies LLC bought a new position in shares of Nordstrom during the third quarter worth about $1,414,000. Finally, Cornerstone Capital Management Holdings LLC. boosted its position in shares of Nordstrom by 602.8% in the third quarter. Cornerstone Capital Management Holdings LLC. now owns 193,204 shares of the company’s stock worth $10,022,000 after buying an additional 165,713 shares during the period. 66.18% of the stock is owned by hedge funds and other institutional investors.
JWN has been the subject of a number of recent research reports. Vetr lowered Nordstrom from a “hold” rating to a “sell” rating and set a $47.33 price objective for the company. in a research note on Monday, August 15th. Zacks Investment Research upgraded Nordstrom from a “sell” rating to a “hold” rating in a research note on Monday, November 7th. Cowen and Company set a $64.00 price objective on Nordstrom and gave the company a “buy” rating in a research note on Friday, November 11th. Citigroup Inc. lifted their price objective on Nordstrom from $40.00 to $50.00 and gave the company a “neutral” rating in a research note on Friday, August 12th. Finally, Stifel Nicolaus lifted their price objective on Nordstrom from $44.00 to $58.00 and gave the company a “buy” rating in a research note on Friday, August 12th. Seven equities research analysts have rated the stock with a sell rating, nineteen have issued a hold rating and eight have assigned a buy rating to the stock. Nordstrom currently has an average rating of “Hold” and an average target price of $48.84.
Nordstrom, Inc is a fashion specialty retailer in the United States. The company operates through two segments: Retail and Credit. The Retail segment includes approximately 115 Nordstrom branded full-line stores in the United States and Nordstrom.com, approximately 167 off-price Nordstrom Rack stores, two Canada full-line stores, Nordstromrack.com and HauteLook, and other retail channels, including five Trunk Club showrooms and TrunkClub.com, its two Jeffrey boutiques and one clearance store that operates under the name Last Chance.
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