Insider Selling: Nordstrom, Inc. (JWN) VP Sells 53,024 Shares of Stock

Nordstrom, Inc. (NYSE:JWN) VP Robert Sari sold 53,024 shares of Nordstrom stock in a transaction dated Monday, September 10th. The shares were sold at an average price of $65.72, for a total value of $3,484,737.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Robert Sari also recently made the following trade(s):

  • On Friday, August 17th, Robert Sari sold 7,671 shares of Nordstrom stock. The shares were sold at an average price of $55.65, for a total value of $426,891.15.

NYSE JWN traded up $0.93 during trading on Friday, reaching $60.26. 2,958,710 shares of the company’s stock were exchanged, compared to its average volume of 2,289,312. The company has a market cap of $10.08 billion, a PE ratio of 20.36, a price-to-earnings-growth ratio of 2.79 and a beta of 0.87. The company has a quick ratio of 0.54, a current ratio of 1.10 and a debt-to-equity ratio of 2.35. Nordstrom, Inc. has a fifty-two week low of $37.79 and a fifty-two week high of $66.33.

Nordstrom (NYSE:JWN) last announced its quarterly earnings results on Thursday, August 16th. The specialty retailer reported $0.95 earnings per share for the quarter, topping analysts’ consensus estimates of $0.84 by $0.11. The firm had revenue of $3.98 billion for the quarter, compared to the consensus estimate of $3.96 billion. Nordstrom had a return on equity of 56.00% and a net margin of 3.24%. The business’s revenue was up 7.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.65 earnings per share. As a group, research analysts anticipate that Nordstrom, Inc. will post 3.57 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 19th. Shareholders of record on Tuesday, September 4th were given a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 2.46%. The ex-dividend date of this dividend was Friday, August 31st. Nordstrom’s dividend payout ratio (DPR) is presently 50.00%.

Nordstrom declared that its Board of Directors has authorized a share repurchase program on Wednesday, August 22nd that allows the company to buyback $1.50 billion in outstanding shares. This buyback authorization allows the specialty retailer to reacquire up to 14.4% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Fulton Bank N.A. bought a new stake in shares of Nordstrom during the third quarter worth approximately $216,000. United Services Automobile Association boosted its holdings in shares of Nordstrom by 1,958.0% during the second quarter. United Services Automobile Association now owns 889,797 shares of the specialty retailer’s stock worth $46,074,000 after acquiring an additional 846,560 shares during the period. Royal London Asset Management Ltd. bought a new stake in shares of Nordstrom during the second quarter worth approximately $2,558,000. Schroder Investment Management Group boosted its holdings in shares of Nordstrom by 39.9% during the second quarter. Schroder Investment Management Group now owns 999,303 shares of the specialty retailer’s stock worth $52,344,000 after acquiring an additional 285,008 shares during the period. Finally, Garde Capital Inc. bought a new stake in shares of Nordstrom during the second quarter worth approximately $230,000. 54.98% of the stock is currently owned by hedge funds and other institutional investors.

Several analysts have issued reports on the company. ValuEngine downgraded Nordstrom from a “buy” rating to a “hold” rating in a research note on Monday, September 24th. Morgan Stanley lifted their target price on Nordstrom from $47.00 to $50.00 and gave the company an “underweight” rating in a research report on Monday, September 17th. Telsey Advisory Group lifted their target price on Nordstrom from $65.00 to $72.00 and gave the company an “outperform” rating in a research report on Monday, September 10th. Goldman Sachs Group reaffirmed a “sell” rating on shares of Nordstrom in a research report on Tuesday, September 4th. Finally, Cowen reaffirmed a “hold” rating and issued a $56.00 target price on shares of Nordstrom in a research report on Friday, August 17th. Three investment analysts have rated the stock with a sell rating, fifteen have given a hold rating and five have assigned a buy rating to the company’s stock. Nordstrom presently has an average rating of “Hold” and an average target price of $56.21.

About Nordstrom

Nordstrom, Inc, a fashion retailer, provides apparel, shoes, cosmetics, and accessories for women, men, young adults, and children in the United States and Canada. The company operates in two segments, Retail and Credit. The Retail segment offers a range of brand name and private label merchandise through various channels, including Nordstrom branded full-line stores and online store at Nordstrom.com; Nordstrom Rack stores; Nordstromrack.com and HauteLook; Trunk Club clubhouses and TrunkClub.com; Jeffrey boutiques; and clearance stores that operate under the Last Chance name.

Further Reading: How to Use a Moving Average for Trading 

Insider Buying and Selling by Quarter for Nordstrom (NYSE:JWN)

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