Positive Sales Performance for Nordstrom in 2nd Quarter

Nordstrom

Nordstrom

(NYSE:JWN) from a sell rating to a strong sell rating in a research note released on Monday, July 17th. Zacks Investment Research upgraded Nordstrom from a "hold" rating to a "buy" rating and set a $53.00 target price on the stock in a report on Thursday. UBS AG restated a "buy" rating and set a $51.00 target price on shares of Nordstrom in a research report on Monday, May 15th. Northcoast Research reaffirmed a "neutral" rating on shares of Nordstrom in a research report on Tuesday, May 16th. SELL rating has been given by 0 analyst (s) and 2 analyst (s) given BUY rating to the stock. We have $45.28 PT which if reached, will make NYSE:JWN worth $219.00M more. While the company's share hit the 52 week high on 11/14/16 stationing the value of $62.82. The firm has a market capitalization of $7.78 billion, a PE ratio of 21.95 and a beta of 0.83. The stock has a 50 day moving average price of $47.43 and a 200-day moving average price of $45.51. Parallel Advisors LLC boosted its stake in shares of Nordstrom by 12.7% in the first quarter. The specialty retailer reported $0.65 earnings per share (EPS) for the quarter, topping the Zacks' consensus estimate of $0.64 by $0.01, Briefing.com reports.

In the Nordstrom Rack brand, which consists of Nordstrom Rack stores and Nordstromrack.com/HauteLook, net sales increased 9.8% and comparable sales increased 3.1%. Finally, American Century Companies Inc. bought a new position in Nordstrom during the first quarter worth approximately $25,172,000. During the same period in the previous year, the firm posted $0.67 EPS. In the latest earnings report the EPS was $2.14 and is expected to be $2.96 for the current year with 166,052,000 shares now outstanding. The original version of this piece of content can be read at https://www.baseball-news-blog.com/2017/08/11/nordstrom-inc-nysejwn-announces-quarterly-earnings-results.html. "(JWN) Receives Consensus Rating of "Hold" from Brokerages" was originally reported by Week Herald and is the property of of Week Herald. If you are accessing this news story on another website, it was copied illegally and republished in violation of USA and global trademark and copyright legislation.

Several other institutional investors also recently made changes to their positions in JWN. First Trust Advisors LP raised its stake in shares of Nordstrom by 72.8% in the first quarter. Oppenheimer & Co. Inc. now owns 33,687 shares of the specialty retailer's stock worth $1,611,000 after buying an additional 5,093 shares in the last quarter. Ledyard National Bank boosted its stake in shares of Nordstrom by 291.1% in the first quarter. Bank of New York Mellon Corp now owns 10,882,305 shares of the specialty retailer's stock worth $520,501,000 after buying an additional 2,985,551 shares during the last quarter.

Among 27 analysts covering Nordstrom Inc. Whitnell & Co. now owns 34,623 shares of the specialty retailer's stock valued at $1,612,000 after buying an additional 260 shares in the last quarter. Gemmer Asset Management LLC boosted its position in shares of Nordstrom by 0.8% in the first quarter. Nexus Invest Inc, Ontario - Canada-based fund reported 7,000 shares. Finally, State of Alaska Department of Revenue boosted its position in shares of Nordstrom by 1.5% in the second quarter. Tiaa Cref Investment Management LLC controls 357,778 shares with a value of $17,113,000. Piedmont Investment Advsr Ltd Limited Liability Company owns 357,182 shares.

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