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Nordstrom family considering buyout of department store

The upscale department store chain Nordstrom Inc. reported earnings

(NYSE:JWN) comes out to be 7.88.

Nordstrom also has been able to maintain some pricing power and produce more robust sales growth than some of its competitors because it targets a sweet spot of consumers who want value but are still willing to spend, Bridget Weishaar, a senior equity analyst for Morningstar, wrote in a research report last month. Nordstrom now has an average rating of "Hold" and a consensus price target of $47.06. Susquehanna Bancshares Inc initiated coverage on shares of Nordstrom in a report on Friday, February 10th. William Blair reiterated an outperform rating on shares of Nordstrom in a research report on Monday, February 6th. (NYSE:JWN) from a buy rating to a hold rating in a research note released on Monday. BMO Capital Markets set a $48.00 target price on shares of Nordstrom and gave the company a "hold" rating in a research note on Saturday, May 13th. Analysts giving shares a rating of 1 or 2 would be indicating a Buy. The firm's 50-day moving average is $45.15 and its 200-day moving average is $47.30. The stock has a market capitalization of $7.83 billion, a price-to-earnings ratio of 22.08 and a beta of 1.01.

Company shares last traded at $44.63 marginally under $44.76, the 50 day moving average and a bit lower than the 200 day moving average of $46.82. Nordstrom also was the target of unusually large options trading on Wednesday. The stock exchanged hands with 23.16M shares as compared to its average daily volume of 3.34M shares.

Canada Pension Plan Investment Board decreased Nordstrom Inc Com (JWN) stake by 84.05% reported in 2016Q4 SEC filing. If you are viewing this article on another site, it was illegally copied and republished in violation of United States & worldwide copyright laws. The legal version of this article can be accessed at https://www.themarketsdaily.com/2017/06/10/nordstrom-inc-jwn-updates-fy18-earnings-guidance-updated-updated-updated.html. The ex-dividend date is Wednesday the 24th of May 2017. This represents a $1.48 dividend on an annualized basis and a dividend yield of 3.14%. Nordstrom's dividend payout ratio (DPR) is 79.14%. Also, President Blake W. Nordstrom sold 3,169 shares of the stock in a transaction on Monday, March 13th. The stock was sold at an average price of $43.80, for a total value of $138,802.20. Following the completion of the transaction, the president now owns 2,140,587 shares in the company, valued at approximately $93,757,710.60. Robert W. Baird set a $50.00 target price on Nordstrom and gave the company a "hold" rating in a report on Saturday, May 13th. The disclosure for this sale can be found here. 3,297 shares valued at $147,544 were sold by NORDSTROM PETER E on Friday, March 10. Parallel Advisors LLC raised its stake in shares of Nordstrom by 12.7% in the first quarter. Finally, Skandinaviska Enskilda Banken AB publ boosted its stake in shares of Nordstrom by 32.2% in the first quarter. Pinnacle Financial Partners Inc. now owns 19,992 shares of the specialty retailer's stock valued at $958,000 after buying an additional 159 shares during the last quarter. Bedell Frazier Investment Counseling LLC purchased a new position in Nordstrom during the first quarter worth about $6,304,000. 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 in the last quarter. State Street Corp boosted its stake in shares of Nordstrom by 2.6% in the first quarter. Ken Stern & Associates Inc. now owns 6,155 shares of the specialty retailer's stock valued at $297,000 after buying an additional 159 shares during the last quarter. Institutional investors own 66.03% of the company's stock.

Amid a tough retail environment, members of the Nordstrom family said they're considering taking the Seattle-based fashion retailer bearing their name private.

The announcement showed the Nordstrom family's commitment to the company's core business which is the retail industry despite the growing number of customers opting to buy products online rather than going to shopping malls.

The company is up by 10.33% since yesterday's close of $40.45.