Analysis: Nordstrom Inc (NYSE:JWN) Target Raised Today
In an analyst note issued by JP Morgan on Monday morning, the firm, Nordstrom Inc (NYSE:JWN), had their target cut to $52.00. Analusts now have a solid Neutral rating on the stock.
From a total of 24 analysts covering Nordstrom Inc. (NYSE:JWN) stock, 11 rate it a ”Buy”, 3 a “Sell”, and 15 a ”Hold”. This means that 38% of the ratings are positive. The highest target price is $80 while the lowest target price is $45. The mean of all analyst targets is $61.33 with a 19.56% above today’s ($55.37) stock price. Nordstrom Inc. was the topic of 25 analyst reports since August 14, 2015 according to the firm StockzIntelligence Inc. UBS maintained shares on November 17 with “Buy” rating. Guggenheim initiated shares with “Buy” rating and $76 target share price in a report from a November 10. Telsey Advisory Group maintained JWN stock in a recent report from November 13 with “Market Perform” rating. Finally, Topeka Capital Markets maintained the stock with “Buy” rating in a report issued on a November 13.
Approximately 2.89M shares of stock traded hands. Nordstrom, Inc. (NYSE:JWN) has declined 24.93% since May 4, 2015 and is downtrending. It has underperformed by 23.86% the S&P500.
The overall sentiment of institutions has increased to 1.15 in Q2 2015. Its up 0.29, from 0.86 in 2015Q2. The ratio is positive, as 45 institutions have sold all the shares of Nordstrom, Inc. that they owned while 176 funds have taken shares off the table. 64 funds have purchased shares for the first time while 191 added to their positions. These institutions now hold 84.87 million shares or 13.10% less than the 97.65 million shares they owned in 2015Q2.
The Fund Csat Investment Advisory L.P. currently is holding shares equating to 4.47% of its total portfolio in Nordstrom, Inc. representing a total of 71,017 shares. Another fund,Blue Arrow Capital Management Llc, is holding a total of 222,931 shares equating to 4.33% of their holdings. Additionally, Smead Capital Management Inc. has a 996,737 share stake in Nordstrom, Inc. which represents 3.81% of their total portfolio. The Fund, Kynikos Associates Lp, based out of New York, has also built up a stake in the stock, which represents a total of 3.03% of their total portfolio. Finally Caerus Global Investors Llc, a fund which is based in the state of New York reported a total holdings of 15,394 shares.
Insider activity is a very important aspect to track on any stock. Going back to March 17, 2015, shareholders of Nordstrom, Inc. have witnessed 0 buys, and a total of 1 sale equating to a net activity of approximately $1.56 million . Little Daniel F sold 20,539 shares worth approximately $1.56M. Koppel Michael G sold 53,878 shares worth approximately $4.31 million. Worzel Ken sold 54,581 shares worth approximately $4.47M. Nordstrom Erik B sold 31,531 shares worth approximately $2.58M. The company insider Winter Alison A sold 13,598 shares worth $1.10 million.
Nordstrom, Inc. is a fashion specialty retailer in the United States. The company has a market cap of $10.51 billion. The firm operates through two divisions: Retail and Credit. It has 15.89 P/E ratio. 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.
According to Zacks Investment Research, “Nordstrom, Inc. is one of the nation’s leading fashion specialty retailers, with stores located in a number of states, including full-line stores, Nordstrom Racks, Faconnable boutiques, and free-standing shoe stores. Nordstrom also operates Faconnable boutiques throughout Europe. Additionally, Nordstrom serves customers through its online presence and through its direct mail catalogs. (Company Press Release)” Get a free copy of the Zacks research report on Nordstrom, Inc. (JWN).