Nordstrom Puts Off Plans to Go Private

Craig F. Walker | The Denver Post | Getty Images

Shares of the upscale retailer, which operates 344 stores in 40 states and has a market cap of $6.67 billion, slid 6% to $40.06 Monday morning. 1,345,696 shares of the stock were exchanged. Shares of Nordstrom slipped in early trading. The company has a 50 day moving average of $45.15 and a 200 day moving average of $47.30. The company has market cap of $350.20 million. During the same period a year ago, the firm posted $0.67 earnings per share. With 63,100 avg volume, 0 days are for INTELLIGENT CLOUD RESOURCES INCORPORATED (OTCMKTS:ITLL)'s short sellers to cover ITLL's short positions.

Additionally, here are a few investment firms who have increased or decreased their stake in (JWN).

Rowland & CO Investment Counsel/adv divested its stake by shedding 3,853 shares a decrease of 13.2% as of 09/30/2017. Nordstrom, Inc. (Symbol: JWN) presently has an above average rank, in the top 50% of the coverage universe, which suggests it is among the top most "interesting" ideas that merit further research by investors. Its stake was valued at $1,726,774,000 a decrease of $16,533,000 according to the filing. As of the end of the quarter Washington Trust Bank had sold 22,414 shares trimming its position 90.3%. The value of the investment in JWN went from $113,000 to $173,000 increasing 53.1% for the reporting period.

Casual-dining chain Ruby Tuesday has agreed to be acquired by a fund managed by private-equity firm NRD Capital in a deal with an enterprise value of $335 million, or $2.40 a share. The dividend payment was $0.370 per share for the quarter which comes to $1.48 on an annualized basis. This dividend amount was represent a yield of $3.16.

The company now has a P/E ratio of 20.20 and market capitalization is 7.09B. On average, equities analysts predict that Nordstrom will post $2.98 EPS for the current year. Analysts expect next quarter's EPS to be $1.31 with next year's EPS projected to be $3.04. In the case of Nordstrom, Inc., the RSI reading has hit 25.7 - by comparison, the universe of dividend stocks covered by Dividend Channel now has an average RSI of 59.1.

Foodservice heavyweight Aramark, meanwhile, made not one but two big buys, announcing Monday the acquisition of hospitality procurement services provider Avendra and uniform and linen rental and supply company AmeriPride. (NYSE:JWN) were released by: "Latimes.com and their article: "Nordstrom's newest store aims for a personal touch â€" and no clothing racks" published on October 07, 2017 as well as Detroitnews.com's news article titled: "Nordstrom's newest store lacks clothing racks" with publication date: "October 13, 2017.

Nordstrom was hoping that as a private company it could make investments into the business to help it adjust to the shifting retail environment without being punished by shareholder reaction.

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