Nordstrom, Inc. (NYSE:JWN) Receives $20.33 Consensus Price Target from Analysts

Nordstrom, Inc. (NYSE:JWN) has received a consensus recommendation of “Reduce” from the thirteen analysts that are presently covering the stock, MarketBeat Ratings reports. Three analysts have rated the stock with a sell recommendation and ten have given a hold recommendation to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $20.58.

Several equities research analysts have commented on the company. Citigroup boosted their price objective on Nordstrom from $22.00 to $23.00 and gave the stock a “neutral” rating in a research note on Tuesday. Barclays upgraded Nordstrom from an “underweight” rating to an “equal weight” rating and boosted their price target for the stock from $18.00 to $23.00 in a research report on Thursday, September 5th. Telsey Advisory Group restated a “market perform” rating and issued a $24.00 price objective on shares of Nordstrom in a report on Wednesday. StockNews.com raised shares of Nordstrom from a “hold” rating to a “buy” rating in a report on Thursday, August 8th. Finally, KeyCorp downgraded shares of Nordstrom from an “overweight” rating to a “sector weight” rating in a research note on Thursday, September 26th.

Insider Buying and Selling at Nordstrom

In other news, COO Alexis Depree sold 20,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 24th. The shares were sold at an average price of $23.20, for a total value of $464,000.00. Following the sale, the chief operating officer now directly owns 169,331 shares of the company’s stock, valued at approximately $3,928,479.20. The trade was a 10.56 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 5.78% of the stock is currently owned by corporate insiders.

Institutional Trading of Nordstrom

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Cyndeo Wealth Partners LLC acquired a new stake in shares of Nordstrom in the third quarter valued at $6,248,000. Mitsubishi UFJ Trust & Banking Corp increased its stake in Nordstrom by 2.1% during the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 199,586 shares of the specialty retailer’s stock worth $4,024,000 after purchasing an additional 4,187 shares during the period. Point72 DIFC Ltd purchased a new stake in Nordstrom during the second quarter worth about $1,174,000. Olympiad Research LP purchased a new position in Nordstrom in the 3rd quarter valued at approximately $508,000. Finally, Comerica Bank grew its stake in shares of Nordstrom by 59.9% in the first quarter. Comerica Bank now owns 75,806 shares of the specialty retailer’s stock worth $1,537,000 after acquiring an additional 28,411 shares in the last quarter. Hedge funds and other institutional investors own 88.73% of the company’s stock.

Nordstrom Stock Performance

NYSE JWN opened at $22.26 on Friday. The company has a current ratio of 1.07, a quick ratio of 0.41 and a debt-to-equity ratio of 2.76. Nordstrom has a twelve month low of $13.68 and a twelve month high of $24.93. The stock has a 50-day moving average of $22.75 and a 200 day moving average of $22.11. The stock has a market capitalization of $3.65 billion, a price-to-earnings ratio of 13.01 and a beta of 2.59.

Nordstrom (NYSE:JWN) last issued its quarterly earnings results on Tuesday, August 27th. The specialty retailer reported $0.96 EPS for the quarter, topping the consensus estimate of $0.71 by $0.25. Nordstrom had a negative net margin of 1.44% and a negative return on equity of 21.26%. The company had revenue of $3.89 billion during the quarter, compared to analyst estimates of $3.88 billion. During the same quarter 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. Sell-side analysts anticipate that Nordstrom will post 1.91 EPS for the current fiscal year.

Nordstrom Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Tuesday, December 3rd will be issued a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 3.41%. Nordstrom’s dividend payout ratio (DPR) is currently 44.44%.

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.