Nordstrom (NYSE:JWN) Coverage Initiated by Analysts at StockNews.com

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

Several other analysts also recently commented on the company. Evercore ISI raised their price objective on Nordstrom from $22.00 to $24.00 and gave the stock an “in-line” rating in a research note on Monday, January 13th. Bank of America lifted their price objective on Nordstrom from $20.00 to $22.00 and gave the company an “underperform” rating in a report on Wednesday, November 27th. Citigroup increased their target price on Nordstrom from $22.00 to $23.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 19th. Telsey Advisory Group reaffirmed a “market perform” rating and issued a $24.00 price target on shares of Nordstrom in a research note on Wednesday, March 5th. Finally, UBS Group raised shares of Nordstrom from a “sell” rating to a “neutral” rating and increased their price objective for the stock from $14.50 to $24.00 in a research report on Friday, January 10th. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $22.90.

Nordstrom Trading Down 0.1 %

NYSE:JWN opened at $24.21 on Friday. The firm has a market capitalization of $3.99 billion, a price-to-earnings ratio of 15.42 and a beta of 2.60. Nordstrom has a 1-year low of $16.79 and a 1-year high of $24.99. The business’s 50-day moving average price is $24.25 and its two-hundred day moving average price is $23.43. The company has a current ratio of 1.14, a quick ratio of 0.35 and a debt-to-equity ratio of 2.65.

Nordstrom (NYSE:JWN) last released its quarterly earnings data on Tuesday, March 4th. The specialty retailer reported $1.10 earnings per share for the quarter, topping the consensus estimate of $0.90 by $0.20. Nordstrom had a negative net margin of 1.57% and a negative return on equity of 18.04%. The business had revenue of $4.32 billion for the quarter, compared to analyst estimates of $4.32 billion. On average, equities analysts expect that Nordstrom will post 1.97 earnings per share for the current year.

Nordstrom Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 26th. Stockholders of record on Tuesday, March 11th will be issued a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 3.14%. The ex-dividend date is Tuesday, March 11th. Nordstrom’s payout ratio is 44.19%.

Institutional Trading of Nordstrom

Several institutional investors and hedge funds have recently bought and sold shares of JWN. Venturi Wealth Management LLC increased its position in shares of Nordstrom by 355.9% during the 3rd quarter. Venturi Wealth Management LLC now owns 1,272 shares of the specialty retailer’s stock worth $29,000 after purchasing an additional 993 shares during the last quarter. Spire Wealth Management grew its stake in shares of Nordstrom by 90.9% in the fourth quarter. Spire Wealth Management now owns 2,100 shares of the specialty retailer’s stock valued at $51,000 after buying an additional 1,000 shares in the last quarter. Wolverine Asset Management LLC acquired a new position in Nordstrom during the fourth quarter worth $63,000. Vestcor Inc bought a new stake in Nordstrom during the fourth quarter worth $63,000. Finally, Atlas Capital Advisors Inc. lifted its stake in Nordstrom by 45.5% in the fourth quarter. Atlas Capital Advisors Inc. now owns 4,446 shares of the specialty retailer’s stock valued at $107,000 after acquiring an additional 1,391 shares during the last quarter. Institutional investors own 88.73% of the company’s stock.

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.