Nordstrom family explores privatising company

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Nordstrom family explores privatising company

JWN has been the topic of several research analyst reports. James Nordstrom said on Nordstrom's first-quarter earnings call in May that the company will consider store closures on a case-by-case basis, rather than through any sweeping measures. (NYSE:JWN) from a neutral rating to an overweight rating in a report released on Thursday, May 4th. William Blair reiterated an outperform rating on shares of Nordstrom in a research report on Monday, February 6th. Finally, Zacks Investment Research raised Nordstrom from a "strong sell" rating to a "hold" rating in a report on Tuesday, February 28th. Buy rating has been given by 6 analysts to the company stock whereas 0 analyst given UNDERPERFORM rating to stock and 1 analyst given HOLD rating.

Nordstrom's stock rose by as much as 18% on Thursday on the announcement before closing 10% higher during the trading session settling at $44.63 per share. But the stock has lost about 40 percent over the last two years as the e-commerce juggernaut has gained momentum, threatening brick-and-mortar stores. Shares price moved down from its 50 days moving average with -0.73% and remote negatively from 200 days moving average with -8.35%. The firm has a market capitalization of $7.41 billion, a P/E ratio of 20.89 and a beta of 1.01. Nordstrom has a 1-year low of $35.01 and a 1-year high of $62.82. Nordstrom also was the target of unusually large options trading on Wednesday. Investors acquired 2,004 put options on the stock. This represents an increase of approximately 147% compared to the average daily volume of 811 put options.

Vetr downgraded shares of Nordstrom, Inc. If you are reading this article on another domain, it was illegally copied and republished in violation of USA & global copyright laws. The original version of this piece can be read at https://sportsperspectives.com/2017/06/09/nordstrom-inc-jwn-now-covered-by-gordon-haskett-updated-updated-updated.html.

The company declared a dividend for shareholders that will be paid on Mon Jun 12, 2017. Investors of record on Friday, May 26th will be given a dividend of $0.37 per share. The ex-dividend date is Wednesday, May 24th. In the latest earnings report the EPS was $2.14 and is projected to be $2.95 for the current year with 166,000,000 shares outstanding. The shares were sold at an average price of $43.80, for a total transaction of $138,802.20.

The Nordstrom family also indicated in the SEC filing that it had "no interest in a sale of their shares" to a third party or voting for an alternative transaction. Also, President Blake W. Nordstrom sold 3,169 shares of Nordstrom stock in a transaction that occurred on Monday, March 13th. The company presently has an average rating of Hold and an average target price of $47.10. Following the completion of the sale, the insider now owns 76,371 shares of the company's stock, valued at $3,590,200.71. The disclosure for this sale can be found here. Together, the family members own 31.2 per cent of the company's shares.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company.

Nordstrom said last month that its overall profit jumped 37 percent at its department stores in the first quarter, but a key sales gauge fell short of Wall Street expectations. Ledyard National Bank now owns 2,362 shares of the specialty retailer's stock valued at $110,000 after buying an additional 1,758 shares during the last quarter. The Becker Capital Management Inc holds 16,752 shares with $803,000 value, down from 410,982 last quarter. Finally, Skandinaviska Enskilda Banken AB publ boosted its stake in shares of Nordstrom by 32.2% in the first quarter. Synovus Financial Corp now owns 3,070 shares of the specialty retailer's stock worth $158,000 after buying an additional 24 shares during the last quarter.

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