Nordstrom (NYSE:JWN) Now Covered by StockNews.com

StockNews.com began coverage on shares of Nordstrom (NYSE:JWN) in a report published on Thursday morning. The firm issued a buy rating on the specialty retailer’s stock.

Several other research analysts have also commented on JWN. UBS Group raised their price target on Nordstrom from $13.00 to $14.50 and gave the stock a “sell” rating in a research report on Wednesday, November 27th. Citigroup raised their price objective on shares of Nordstrom from $22.00 to $23.00 and gave the company a “neutral” rating in a research note on Tuesday, November 19th. Barclays upgraded shares of Nordstrom from an “underweight” rating to an “equal weight” rating and increased their target price for the stock from $18.00 to $23.00 in a report on Thursday, September 5th. Evercore ISI increased their target price on Nordstrom from $20.00 to $22.00 and gave the company an “in-line” rating in a report on Wednesday, November 27th. Finally, Telsey Advisory Group decreased their target price on Nordstrom from $26.00 to $24.00 and set a “market perform” rating for the company in a research note on Tuesday, December 24th. Four research analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $21.13.

Nordstrom Stock Performance

NYSE JWN opened at $24.15 on Thursday. Nordstrom has a fifty-two week low of $16.63 and a fifty-two week high of $24.99. The firm has a market capitalization of $3.99 billion, a P/E ratio of 15.38 and a beta of 2.56. The stock’s fifty day moving average is $23.28 and its two-hundred day moving average is $22.59. The company has a debt-to-equity ratio of 2.65, a quick ratio of 0.35 and a current ratio of 1.14.

Nordstrom (NYSE:JWN) last released its quarterly earnings data on Tuesday, November 26th. The specialty retailer reported $0.33 EPS for the quarter, beating analysts’ consensus estimates of $0.22 by $0.11. Nordstrom had a negative return on equity of 18.04% and a negative net margin of 1.57%. The firm had revenue of $3.35 billion for the quarter, compared to analysts’ expectations of $3.34 billion. During the same period in the prior year, the firm posted $0.25 earnings per share. The firm’s quarterly revenue was up 4.6% on a year-over-year basis. On average, research analysts anticipate that Nordstrom will post 1.94 earnings per share for the current year.

Nordstrom Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 18th. Investors of record on Tuesday, December 3rd were given a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 3.15%. The ex-dividend date was Tuesday, December 3rd. Nordstrom’s dividend payout ratio is presently 48.41%.

Institutional Investors Weigh In On Nordstrom

Hedge funds and other institutional investors have recently modified their holdings of the stock. State of Alaska Department of Revenue boosted its stake in Nordstrom by 7.3% during the 3rd quarter. State of Alaska Department of Revenue now owns 11,236 shares of the specialty retailer’s stock valued at $252,000 after purchasing an additional 760 shares in the last quarter. Stephens Inc. AR increased its holdings in Nordstrom by 0.5% in the third quarter. Stephens Inc. AR now owns 153,061 shares of the specialty retailer’s stock worth $3,442,000 after buying an additional 805 shares during the last quarter. CWM LLC lifted its stake in Nordstrom by 28.7% in the third quarter. CWM LLC now owns 3,628 shares of the specialty retailer’s stock valued at $82,000 after acquiring an additional 810 shares during the last quarter. Venturi Wealth Management LLC grew its position in Nordstrom by 355.9% in the third quarter. Venturi Wealth Management LLC now owns 1,272 shares of the specialty retailer’s stock worth $29,000 after acquiring an additional 993 shares in the last quarter. Finally, Caprock Group LLC boosted its stake in shares of Nordstrom by 9.1% during the 3rd quarter. Caprock Group LLC now owns 11,931 shares of the specialty retailer’s stock worth $268,000 after acquiring an additional 1,000 shares in the last quarter. 88.73% of the stock is currently owned by 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.