Brokerages Set Nordstrom, Inc. (NYSE:JWN) Price Target at $20.23

Nordstrom, Inc. (NYSE:JWN) has been given an average recommendation of “Reduce” by the thirteen ratings firms that are covering the firm, MarketBeat reports. Three research analysts have rated the stock with a sell recommendation and ten have issued a hold recommendation on the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $20.23.

A number of equities analysts have weighed in on JWN shares. TD Cowen boosted their target price on Nordstrom from $24.00 to $25.00 and gave the stock a “hold” rating in a research report on Wednesday, August 28th. Barclays upgraded shares of Nordstrom from an “underweight” rating to an “equal weight” rating and increased their price objective for the company from $18.00 to $23.00 in a research report on Thursday, September 5th. JPMorgan Chase & Co. lifted their target price on shares of Nordstrom from $19.00 to $20.00 and gave the stock an “underweight” rating in a research report on Wednesday, August 28th. BMO Capital Markets boosted their target price on shares of Nordstrom from $20.00 to $22.00 and gave the company a “market perform” rating in a research note on Wednesday, August 28th. Finally, KeyCorp downgraded Nordstrom from an “overweight” rating to a “sector weight” rating in a research note on Thursday.

Insider Transactions at Nordstrom

In other Nordstrom news, COO Alexis Depree sold 20,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 24th. The stock was sold at an average price of $23.20, for a total transaction of $464,000.00. Following the sale, the chief operating officer now directly owns 169,331 shares in the company, valued at $3,928,479.20. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 5.78% of the company’s stock.

Institutional Investors Weigh In On Nordstrom

Several hedge funds and other institutional investors have recently modified their holdings of the business. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in Nordstrom in the 2nd quarter worth about $560,000. Point72 Asia Singapore Pte. Ltd. bought a new position in Nordstrom in the 2nd quarter worth about $191,000. Sanctuary Advisors LLC purchased a new position in shares of Nordstrom during the second quarter worth approximately $415,000. Algert Global LLC bought a new stake in shares of Nordstrom during the second quarter valued at approximately $210,000. Finally, Maverick Capital Ltd. boosted its holdings in shares of Nordstrom by 7.1% in the second quarter. Maverick Capital Ltd. now owns 118,834 shares of the specialty retailer’s stock valued at $2,522,000 after purchasing an additional 7,883 shares during the period. 88.73% of the stock is currently owned by hedge funds and other institutional investors.

Nordstrom Stock Performance

Shares of JWN stock opened at $22.20 on Friday. The company’s fifty day moving average price is $22.14 and its 200-day moving average price is $21.10. The stock has a market cap of $3.63 billion, a PE ratio of 12.13 and a beta of 2.61. The company has a current ratio of 1.07, a quick ratio of 0.41 and a debt-to-equity ratio of 2.76. Nordstrom has a 12 month low of $12.88 and a 12 month high of $24.03.

Nordstrom (NYSE:JWN) last announced its quarterly earnings data on Tuesday, August 27th. The specialty retailer reported $0.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.71 by $0.25. Nordstrom had a negative return on equity of 21.26% and a negative net margin of 1.44%. The business had revenue of $3.89 billion during the quarter, compared to analysts’ expectations of $3.88 billion. During the same quarter in the previous year, the business earned $0.84 earnings per share. The firm’s quarterly revenue was up 3.2% compared to the same quarter last year. On average, equities analysts expect that Nordstrom will post 1.9 EPS for the current fiscal year.

Nordstrom Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 18th. Investors of record on Tuesday, September 3rd were paid a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 3.42%. The ex-dividend date of this dividend was Tuesday, September 3rd. Nordstrom’s payout ratio is 41.53%.

About Nordstrom

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.