JPMorgan Chase & Co. Boosts Nordstrom (NYSE:JWN) Price Target to $20.00

Nordstrom (NYSE:JWN) had its target price increased by JPMorgan Chase & Co. from $19.00 to $20.00 in a research note released on Wednesday morning, Benzinga reports. They currently have an underweight rating on the specialty retailer’s stock.

Other equities analysts have also recently issued research reports about the stock. Evercore ISI increased their price objective on shares of Nordstrom from $17.00 to $19.00 and gave the stock an in-line rating in a research note on Friday, May 31st. TD Cowen boosted their price objective on shares of Nordstrom from $24.00 to $25.00 and gave the company a hold rating in a research report on Wednesday. Telsey Advisory Group raised their target price on Nordstrom from $23.00 to $24.00 and gave the stock a market perform rating in a report on Wednesday. BMO Capital Markets boosted their price target on Nordstrom from $20.00 to $22.00 and gave the company a market perform rating in a report on Wednesday. Finally, The Goldman Sachs Group upped their price target on Nordstrom from $19.00 to $21.00 and gave the stock a neutral rating in a research report on Wednesday. Four investment analysts have rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, Nordstrom has a consensus rating of Hold and an average price target of $19.85.

Nordstrom Trading Up 4.1 %

Shares of JWN stock opened at $22.01 on Wednesday. The company has a current ratio of 1.03, a quick ratio of 0.36 and a debt-to-equity ratio of 3.13. Nordstrom has a 12-month low of $12.88 and a 12-month high of $24.03. The stock has a market capitalization of $3.60 billion, a P/E ratio of 12.03, a P/E/G ratio of 2.55 and a beta of 2.62. The firm’s 50 day moving average is $21.92 and its 200 day moving average is $20.67.

Nordstrom (NYSE:JWN) last released its quarterly earnings results on Tuesday, August 27th. The specialty retailer reported $0.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.71 by $0.25. The firm had revenue of $3.89 billion for the quarter, compared to the consensus estimate of $3.88 billion. Nordstrom had a negative return on equity of 26.45% and a negative net margin of 1.35%. The company’s revenue for the quarter was up 3.2% on a year-over-year basis. During the same period last year, the business posted $0.84 EPS. Research analysts expect that Nordstrom will post 1.79 earnings per share for the current year.

Nordstrom Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 18th. Investors of record on Tuesday, September 3rd will be paid a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 3.45%. The ex-dividend date is Tuesday, September 3rd. Nordstrom’s payout ratio is 41.53%.

Institutional Investors Weigh In On Nordstrom

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. CANADA LIFE ASSURANCE Co increased its position in Nordstrom by 0.6% during the first quarter. CANADA LIFE ASSURANCE Co now owns 90,144 shares of the specialty retailer’s stock valued at $1,828,000 after acquiring an additional 520 shares during the last quarter. State of Michigan Retirement System raised its position in Nordstrom by 2.6% in the 1st quarter. State of Michigan Retirement System now owns 23,908 shares of the specialty retailer’s stock worth $485,000 after purchasing an additional 600 shares during the period. Personal CFO Solutions LLC lifted its stake in Nordstrom by 5.7% in the fourth quarter. Personal CFO Solutions LLC now owns 11,882 shares of the specialty retailer’s stock worth $219,000 after purchasing an additional 636 shares during the last quarter. Hexagon Capital Partners LLC boosted its position in shares of Nordstrom by 33.1% during the first quarter. Hexagon Capital Partners LLC now owns 2,648 shares of the specialty retailer’s stock valued at $54,000 after buying an additional 659 shares during the period. Finally, Atlas Capital Advisors LLC boosted its position in shares of Nordstrom by 101.8% during the second quarter. Atlas Capital Advisors LLC now owns 1,491 shares of the specialty retailer’s stock valued at $32,000 after buying an additional 752 shares during the period. 88.73% of the stock is currently owned by hedge funds and other institutional investors.

Nordstrom Company Profile

Nordstrom, Inc, a fashion retailer, provides apparels, shoes, beauty, accessories, and home goods for women, men, young adults, and children. It offers a range of brand-name and private-label merchandise through various channels, such as Nordstrom branded stores and online at Nordstrom.com; Nordstrom.ca; Nordstrom stores; Nordstrom Rack stores; Nordstrom Locals; ASOS; Nordstromrack.com; mobile application; and clearance stores under the Last Chance name.