Nordstrom, Inc. (NYSE:JWN) Receives Consensus Recommendation of “Reduce” from Analysts

Nordstrom, Inc. (NYSE:JWN) has earned an average rating of “Reduce” from the thirteen research firms that are covering the firm, Marketbeat.com reports. Three equities research analysts have rated the stock with a sell recommendation and ten have given a hold recommendation to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $21.29.

JWN has been the subject of several recent research reports. Bank of America increased their price objective on Nordstrom from $20.00 to $22.00 and gave the company an “underperform” rating in a research note on Wednesday, November 27th. The Goldman Sachs Group boosted their price target on shares of Nordstrom from $19.00 to $21.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 28th. StockNews.com downgraded shares of Nordstrom from a “strong-buy” rating to a “buy” rating in a report on Thursday, December 5th. BMO Capital Markets boosted their target price on Nordstrom from $20.00 to $22.00 and gave the stock a “market perform” rating in a report on Wednesday, August 28th. Finally, Citigroup upped their price target on Nordstrom from $22.00 to $23.00 and gave the company a “neutral” rating in a research report on Tuesday, November 19th.

Insider Transactions at Nordstrom

In related news, COO Alexis Depree sold 20,000 shares of the stock in a transaction that occurred on Tuesday, September 24th. The shares were sold at an average price of $23.20, for a total transaction of $464,000.00. Following the completion of the transaction, the chief operating officer now owns 169,331 shares of the company’s stock, valued at approximately $3,928,479.20. This trade represents a 10.56 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 5.78% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Franklin Resources Inc. lifted its position in shares of Nordstrom by 29.9% during the third quarter. Franklin Resources Inc. now owns 50,294 shares of the specialty retailer’s stock worth $1,152,000 after purchasing an additional 11,583 shares in the last quarter. Tidal Investments LLC increased its stake in Nordstrom by 47.8% during the 3rd quarter. Tidal Investments LLC now owns 17,602 shares of the specialty retailer’s stock worth $396,000 after buying an additional 5,690 shares during the period. Sanctuary Advisors LLC lifted its holdings in Nordstrom by 160.9% during the 3rd quarter. Sanctuary Advisors LLC now owns 51,071 shares of the specialty retailer’s stock worth $1,187,000 after buying an additional 31,498 shares in the last quarter. Virtu Financial LLC purchased a new position in Nordstrom in the 3rd quarter valued at approximately $451,000. Finally, Geode Capital Management LLC grew its stake in shares of Nordstrom by 0.3% in the third quarter. Geode Capital Management LLC now owns 1,625,616 shares of the specialty retailer’s stock worth $36,570,000 after acquiring an additional 5,407 shares in the last quarter. 88.73% of the stock is currently owned by institutional investors and hedge funds.

Nordstrom Stock Up 0.1 %

JWN stock opened at $22.96 on Wednesday. Nordstrom has a 52 week low of $15.97 and a 52 week high of $24.99. The company has a quick ratio of 0.35, a current ratio of 1.14 and a debt-to-equity ratio of 2.65. The firm has a 50-day simple moving average of $22.92 and a 200-day simple moving average of $22.34. The stock has a market capitalization of $3.79 billion, a P/E ratio of 14.62 and a beta of 2.56.

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

Nordstrom Dividend Announcement

The firm also recently announced 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. The ex-dividend date is Tuesday, December 3rd. This represents a $0.76 dividend on an annualized basis and a yield of 3.31%. Nordstrom’s dividend payout ratio is currently 48.41%.

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.