Nordstrom (NYSE:JWN) Raised to Strong-Buy at StockNews.com

StockNews.com upgraded shares of Nordstrom (NYSE:JWN) from a buy rating to a strong-buy rating in a research note released on Wednesday morning.

A number of other research firms have also recently commented on JWN. JPMorgan Chase & Co. raised their price target on Nordstrom from $19.00 to $20.00 and gave the company an “underweight” rating in a report on Wednesday, August 28th. UBS Group lifted their target price on Nordstrom from $13.00 to $14.50 and gave the company a “sell” rating in a research note on Wednesday. BMO Capital Markets upped their price target on Nordstrom from $20.00 to $22.00 and gave the stock a “market perform” rating in a research note on Wednesday, August 28th. Evercore ISI increased their price objective on shares of Nordstrom from $20.00 to $22.00 and gave the company an “in-line” rating in a report on Wednesday. Finally, TD Cowen boosted their target price on shares of Nordstrom from $24.00 to $25.00 and gave the stock a “hold” rating in a report on Wednesday, August 28th. Three equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $21.29.

Nordstrom Stock Up 0.4 %

Shares of Nordstrom stock opened at $22.71 on Wednesday. The company has a quick ratio of 0.41, a current ratio of 1.14 and a debt-to-equity ratio of 2.65. Nordstrom has a twelve month low of $15.08 and a twelve month high of $24.99. The company has a market cap of $3.73 billion, a price-to-earnings ratio of 14.47 and a beta of 2.59. The company’s 50 day moving average is $22.85 and its 200 day moving average is $22.24.

Nordstrom (NYSE:JWN) last announced its earnings results on Tuesday, November 26th. The specialty retailer reported $0.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.22 by $0.11. The business had revenue of $3.35 billion for the quarter, compared to analysts’ expectations of $3.34 billion. Nordstrom had a negative return on equity of 18.04% and a negative net margin of 1.57%. The business’s revenue for the quarter was up 4.6% on a year-over-year basis. During the same period last year, the firm posted $0.25 earnings per share. Research analysts anticipate that Nordstrom will post 1.93 EPS for the current year.

Nordstrom Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Tuesday, December 3rd will be given a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 3.35%. The ex-dividend date is Tuesday, December 3rd. Nordstrom’s dividend payout ratio (DPR) is presently 48.41%.

Insiders Place Their Bets

In other Nordstrom news, COO Alexis Depree sold 20,000 shares of the company’s stock in a transaction dated Tuesday, September 24th. The shares were sold at an average price of $23.20, for a total value of $464,000.00. Following the transaction, the chief operating officer now directly owns 169,331 shares in the company, valued at $3,928,479.20. This represents a 10.56 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 5.78% of the company’s stock.

Institutional Trading of Nordstrom

A number of large investors have recently modified their holdings of the company. Venturi Wealth Management LLC raised its position in Nordstrom by 355.9% during the 3rd quarter. Venturi Wealth Management LLC now owns 1,272 shares of the specialty retailer’s stock valued at $29,000 after purchasing an additional 993 shares in the last quarter. Atlas Capital Advisors LLC increased its stake 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. Rothschild Investment LLC purchased a new position in shares of Nordstrom during the second quarter valued at $39,000. Blue Trust Inc. raised its holdings in shares of Nordstrom by 10,045.8% in the second quarter. Blue Trust Inc. now owns 2,435 shares of the specialty retailer’s stock valued at $49,000 after acquiring an additional 2,411 shares in the last quarter. Finally, Point72 Hong Kong Ltd purchased a new stake in Nordstrom in the second quarter worth about $71,000. Hedge funds and other institutional investors own 88.73% of the company’s stock.

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.