What’s Ahead for Nordstrom, Inc. (JWN) After Forming Bullish Multiple Top?

July 16, 2018 - By Billy Entrekin

Nordstrom, Inc. (NYSE:JWN) Logo

Investors sentiment increased to 0.99 in 2018 Q1. Its up 0.03, from 0.96 in 2017Q4. It increased, as 35 investors sold Nordstrom, Inc. shares while 158 reduced holdings. 69 funds opened positions while 123 raised stakes. 90.21 million shares or 2.31% less from 92.34 million shares in 2017Q4 were reported.
Manchester Cap Mgmt Limited Liability Company reported 62 shares stake. New Mexico Educational Retirement Board accumulated 11,191 shares. Hartford holds 0.02% or 22,111 shares. Ftb Advisors invested in 582 shares. Amundi Pioneer Asset invested 0.09% in Nordstrom, Inc. (NYSE:JWN). Ameriprise invested in 0% or 74,898 shares. 6,750 are held by Patten And Patten Inc Tn. Dynamic Cap Mngmt holds 0.61% or 5,037 shares in its portfolio. Fjarde Ap reported 39,652 shares stake. 19,790 were reported by Cohen Klingenstein Llc. 69,447 are held by Oregon Employees Retirement Fund. Grimes And stated it has 0.42% of its portfolio in Nordstrom, Inc. (NYSE:JWN). Kentucky Retirement owns 6,101 shares. Qs Investors Ltd Com has 1,200 shares. Tarbox Family Office holds 0% in Nordstrom, Inc. (NYSE:JWN) or 14 shares.

Since April 11, 2018, it had 0 buys, and 18 sales for $17.91 million activity. 1,000 shares valued at $47,530 were sold by Worzel Ken on Monday, April 16. 10,000 shares were sold by Meden Scott A, worth $490,200 on Thursday, April 12. $515,032 worth of Nordstrom, Inc. (NYSE:JWN) was sold by Deputy Christine on Monday, April 30. Nordstrom James F JR also sold $1.99 million worth of Nordstrom, Inc. (NYSE:JWN) shares. Another trade for 118,161 shares valued at $6.38 million was sold by NORDSTROM ERIK B.

The stock of Nordstrom, Inc. (JWN) shows a multiple tops pattern with $54.51 target or 4.00 % above today’s $52.41 share price. The 7 months chart pattern indicates low risk for the $8.77 billion company. It was reported on Jul, 16 by Finviz.com. If the $54.51 price target is reached, the company will be worth $350.92M more.
Multiple tops are chart patterns with decent performance in a bull market. The failure rate is higher but the average decline is reasonable. Back-tests of such patterns show that the break even failure rate is 10%, the average rise: 19%, the throwback rate: 61% and the percentage of stocks meeting their price targets: 40%.

The stock increased 0.44% or $0.23 during the last trading session, reaching $52.41. About 715,022 shares traded. Nordstrom, Inc. (NYSE:JWN) has risen 17.06% since July 16, 2017 and is uptrending. It has outperformed by 4.49% the S&P500.

Analysts await Nordstrom, Inc. (NYSE:JWN) to report earnings on August, 9. They expect $0.81 EPS, up 24.62 % or $0.16 from last year’s $0.65 per share. JWN’s profit will be $135.59M for 16.18 P/E if the $0.81 EPS becomes a reality. After $0.51 actual EPS reported by Nordstrom, Inc. for the previous quarter, Wall Street now forecasts 58.82 % EPS growth.

Nordstrom, Inc. (NYSE:JWN) Ratings Coverage

Among 13 analysts covering Nordstrom Inc (NYSE:JWN), 3 have Buy rating, 0 Sell and 10 Hold. Therefore 23% are positive. Nordstrom Inc has $69 highest and $45.0 lowest target. $53.82’s average target is 2.69% above currents $52.41 stock price. Nordstrom Inc had 18 analyst reports since January 19, 2018 according to SRatingsIntel. The firm has “Sector Weight” rating by KeyBanc Capital Markets given on Tuesday, July 10. The stock of Nordstrom, Inc. (NYSE:JWN) earned “Market Perform” rating by BMO Capital Markets on Monday, March 5. On Wednesday, May 23 the stock rating was upgraded by Deutsche Bank to “Buy”. The rating was maintained by Cowen & Co with “Buy” on Friday, January 19. Cowen & Co downgraded the shares of JWN in report on Monday, July 2 to “Market Perform” rating. The stock has “Hold” rating by William Blair on Tuesday, January 23. The rating was maintained by Susquehanna on Tuesday, January 23 with “Hold”. The stock of Nordstrom, Inc. (NYSE:JWN) has “Neutral” rating given on Friday, March 2 by Robert W. Baird. Nomura maintained the stock with “Neutral” rating in Thursday, July 12 report. The company was maintained on Friday, March 2 by RBC Capital Markets.

More recent Nordstrom, Inc. (NYSE:JWN) news were published by: Seekingalpha.com which released: “Nordstrom broadens local market concept” on July 09, 2018. Also Seekingalpha.com published the news titled: “Nordstrom updates guidance at investor day event” on July 10, 2018. Benzinga.com‘s news article titled: “KeyBanc Downgrades Nordstrom, Urban Outfitters, Says E-Commerce Pressures Are Only Increasing” with publication date: July 10, 2018 was also an interesting one.

Nordstrom, Inc., a fashion specialty retailer, provides apparel, shoes, cosmetics, and accessories for women, men, young adults, and children in the United States and Canada. The company has market cap of $8.77 billion. It operates through two divisions, Retail and Credit. It has a 19.2 P/E ratio. 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.

Nordstrom, Inc. (NYSE:JWN) Institutional Positions Chart

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