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

Shares of Nordstrom, Inc. (NYSE:JWN) have been assigned an average recommendation of “Reduce” from the thirteen research firms that are currently covering the company, Marketbeat.com reports. Three research analysts have rated the stock with a sell rating and ten have assigned a hold rating to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $20.33.

JWN has been the subject of a number of research reports. KeyCorp lowered shares of Nordstrom from an “overweight” rating to a “sector weight” rating in a research report on Thursday, September 26th. BMO Capital Markets raised their price objective on Nordstrom from $20.00 to $22.00 and gave the company a “market perform” rating in a research report on Wednesday, August 28th. JPMorgan Chase & Co. boosted their target price on Nordstrom from $19.00 to $20.00 and gave the stock an “underweight” rating in a research report on Wednesday, August 28th. Telsey Advisory Group raised their price target on Nordstrom from $23.00 to $24.00 and gave the company a “market perform” rating in a report on Wednesday, August 28th. Finally, Barclays raised Nordstrom from an “underweight” rating to an “equal weight” rating and upped their price objective for the stock from $18.00 to $23.00 in a report on Thursday, September 5th.

Nordstrom Price Performance

NYSE:JWN opened at $22.73 on Tuesday. The business’s 50-day simple moving average is $22.49 and its two-hundred day simple moving average is $21.62. Nordstrom has a 52 week low of $12.88 and a 52 week high of $24.93. The stock has a market cap of $3.73 billion, a PE ratio of 13.29 and a beta of 2.60. The company has a quick ratio of 0.41, a current ratio of 1.07 and a debt-to-equity ratio of 2.76.

Nordstrom (NYSE:JWN) last posted its quarterly earnings results on Tuesday, August 27th. The specialty retailer reported $0.96 EPS for the quarter, topping analysts’ consensus estimates of $0.71 by $0.25. Nordstrom had a negative return on equity of 21.26% and a negative net margin of 1.44%. The company had revenue of $3.89 billion for the quarter, compared to analysts’ expectations of $3.88 billion. During the same period in the previous year, the firm earned $0.84 EPS. The firm’s revenue was up 3.2% compared to the same quarter last year. As a group, analysts forecast that Nordstrom will post 1.89 EPS for the current fiscal year.

Nordstrom Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 18th. Shareholders of record on Tuesday, September 3rd were paid a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 3.34%. The ex-dividend date of this dividend was Tuesday, September 3rd. Nordstrom’s payout ratio is 44.44%.

Insider Buying and Selling at Nordstrom

In other news, COO Alexis Depree sold 20,000 shares of the firm’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 completion of the sale, the chief operating officer now owns 169,331 shares in the company, valued at approximately $3,928,479.20. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 5.78% of the company’s stock.

Institutional Trading of Nordstrom

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in JWN. Capstone Investment Advisors LLC boosted its stake in shares of Nordstrom by 185.0% during the first quarter. Capstone Investment Advisors LLC now owns 211,471 shares of the specialty retailer’s stock valued at $4,287,000 after purchasing an additional 137,271 shares during the period. Cyndeo Wealth Partners LLC bought a new position in Nordstrom in the 3rd quarter worth about $6,248,000. Vanguard Group Inc. increased its position in shares of Nordstrom by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 10,074,006 shares of the specialty retailer’s stock worth $185,865,000 after acquiring an additional 46,980 shares during the period. Mitsubishi UFJ Trust & Banking Corp raised its stake in shares of Nordstrom by 2.1% during the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 199,586 shares of the specialty retailer’s stock valued at $4,024,000 after acquiring an additional 4,187 shares in the last quarter. Finally, Point72 DIFC Ltd purchased a new position in Nordstrom during the 2nd quarter worth $1,174,000. 88.73% of the stock is owned by hedge funds and other 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.