Nordstrom, Inc. (NYSE:JWN) Given Consensus Recommendation of “Reduce” by Brokerages

Nordstrom, Inc. (NYSE:JWN) has been given a consensus recommendation of “Reduce” by the fourteen brokerages that are covering the company, Marketbeat reports. Four research analysts have rated the stock with a sell recommendation and ten have issued a hold recommendation on the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $21.13.

A number of brokerages have issued reports on JWN. Evercore ISI upped their price target on shares of Nordstrom from $20.00 to $22.00 and gave the company an “in-line” rating in a research note on Wednesday, November 27th. Bank of America boosted their price target on Nordstrom from $20.00 to $22.00 and gave the company an “underperform” rating in a research note on Wednesday, November 27th. UBS Group lifted their target price on Nordstrom from $13.00 to $14.50 and gave the stock a “sell” rating in a report on Wednesday, November 27th. StockNews.com assumed coverage on shares of Nordstrom in a research report on Thursday. They set a “buy” rating for the company. Finally, Argus downgraded shares of Nordstrom from a “buy” rating to a “sell” rating in a report on Monday, December 30th.

Hedge Funds Weigh In On Nordstrom

A number of large investors have recently added to or reduced their stakes in JWN. Verition Fund Management LLC increased its stake in Nordstrom by 147.4% during the 3rd quarter. Verition Fund Management LLC now owns 1,218,365 shares of the specialty retailer’s stock worth $27,401,000 after buying an additional 725,803 shares in the last quarter. American Century Companies Inc. raised its holdings in Nordstrom by 66.2% in the 2nd quarter. American Century Companies Inc. now owns 1,661,227 shares of the specialty retailer’s stock valued at $35,251,000 after acquiring an additional 661,769 shares during the last quarter. Marshall Wace LLP boosted its stake in Nordstrom by 38.4% during the second quarter. Marshall Wace LLP now owns 1,479,414 shares of the specialty retailer’s stock worth $31,393,000 after buying an additional 410,152 shares during the last quarter. Axiom Advisory LLC grew its holdings in Nordstrom by 46.0% in the 3rd quarter. Axiom Advisory LLC now owns 1,100,864 shares of the specialty retailer’s stock valued at $24,456,000 after buying an additional 346,994 shares in the last quarter. Finally, Cyndeo Wealth Partners LLC purchased a new stake in shares of Nordstrom in the third quarter valued at about $6,248,000. 88.73% of the stock is currently owned by institutional investors and hedge funds.

Nordstrom Trading Up 0.1 %

Shares of NYSE JWN opened at $24.17 on Friday. The stock has a market capitalization of $3.99 billion, a P/E ratio of 15.40 and a beta of 2.56. The company has a debt-to-equity ratio of 2.65, a current ratio of 1.14 and a quick ratio of 0.35. The business has a fifty day moving average price of $23.30 and a 200 day moving average price of $22.61. Nordstrom has a 1-year low of $16.63 and a 1-year high of $24.99.

Nordstrom (NYSE:JWN) last released its quarterly 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. Nordstrom had a negative net margin of 1.57% and a negative return on equity of 18.04%. The business had revenue of $3.35 billion for the quarter, compared to analyst estimates of $3.34 billion. During the same period in the previous year, the company earned $0.25 earnings per share. The business’s revenue for the quarter was up 4.6% on a year-over-year basis. Equities research analysts expect that Nordstrom will post 1.94 EPS for the current fiscal year.

Nordstrom Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 18th. Investors of record on Tuesday, December 3rd were issued a $0.19 dividend. The ex-dividend date of this dividend was Tuesday, December 3rd. This represents a $0.76 dividend on an annualized basis and a yield of 3.14%. Nordstrom’s payout ratio is 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.