Nordstrom (NYSE:JWN) Shares Gap Down – Time to Sell?

Nordstrom, Inc. (NYSE:JWN) shares gapped down before the market opened on Tuesday . The stock had previously closed at $24.90, but opened at $24.16. Nordstrom shares last traded at $24.44, with a volume of 360,179 shares changing hands.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Barclays raised shares of Nordstrom from an “underweight” rating to an “equal weight” rating and upped their target price for the stock from $18.00 to $23.00 in a report on Thursday, September 5th. JPMorgan Chase & Co. upped their price objective on shares of Nordstrom from $19.00 to $20.00 and gave the company an “underweight” rating in a research note on Wednesday, August 28th. Citigroup raised their price objective on Nordstrom from $22.00 to $23.00 and gave the company a “neutral” rating in a research note on Tuesday, November 19th. BMO Capital Markets boosted their target price on Nordstrom from $20.00 to $22.00 and gave the company a “market perform” rating in a research note on Wednesday, August 28th. Finally, StockNews.com raised Nordstrom from a “hold” rating to a “buy” rating in a research note on Thursday, August 8th. Three 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 stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $20.58.

Nordstrom Price Performance

The firm has a market cap of $4.01 billion, a PE ratio of 14.58 and a beta of 2.59. The company has a debt-to-equity ratio of 2.76, a current ratio of 1.07 and a quick ratio of 0.41. The firm has a 50-day simple moving average of $22.82 and a 200 day simple moving average of $22.20.

Nordstrom (NYSE:JWN) last issued its quarterly earnings results on Tuesday, August 27th. The specialty retailer reported $0.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.71 by $0.25. The company had revenue of $3.89 billion during the quarter, compared to analysts’ expectations of $3.88 billion. Nordstrom had a negative net margin of 1.44% and a negative return on equity of 21.26%. Nordstrom’s revenue was up 3.2% on a year-over-year basis. During the same period last year, the company posted $0.84 EPS. As a group, equities analysts expect that Nordstrom, Inc. will post 1.91 EPS for the current year.

Nordstrom Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Tuesday, December 3rd will be given a $0.19 dividend. The ex-dividend date is Tuesday, December 3rd. This represents a $0.76 dividend on an annualized basis and a dividend yield of 3.11%. Nordstrom’s dividend payout ratio is currently 44.44%.

Insider Buying and Selling at Nordstrom

In other news, COO Alexis Depree sold 20,000 shares of the company’s stock in a transaction that occurred 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 transaction, the chief operating officer now owns 169,331 shares in the company, valued at approximately $3,928,479.20. This represents a 10.56 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. 5.78% of the stock is owned by company insiders.

Hedge Funds Weigh In On Nordstrom

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. CANADA LIFE ASSURANCE Co raised its stake in shares of Nordstrom by 0.6% in the first quarter. CANADA LIFE ASSURANCE Co now owns 90,144 shares of the specialty retailer’s stock worth $1,828,000 after purchasing an additional 520 shares during the last quarter. Atlas Capital Advisors LLC raised its position in Nordstrom by 101.8% in the 2nd quarter. Atlas Capital Advisors LLC now owns 1,491 shares of the specialty retailer’s stock worth $32,000 after buying an additional 752 shares during the last quarter. State of Alaska Department of Revenue raised its position in Nordstrom by 7.3% in the 3rd quarter. State of Alaska Department of Revenue now owns 11,236 shares of the specialty retailer’s stock worth $252,000 after buying an additional 760 shares during the last quarter. Stephens Inc. AR lifted its stake in Nordstrom by 0.5% during the 3rd quarter. Stephens Inc. AR now owns 153,061 shares of the specialty retailer’s stock valued at $3,442,000 after acquiring an additional 805 shares during the period. Finally, CWM LLC boosted its holdings in shares of Nordstrom by 28.7% during the 3rd quarter. CWM LLC now owns 3,628 shares of the specialty retailer’s stock valued at $82,000 after acquiring an additional 810 shares during the last quarter. 88.73% of the stock is owned by institutional investors.

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.