Nordstrom (NYSE:JWN) Price Target Raised to $22.00

Nordstrom (NYSE:JWN) had its price target increased by Evercore ISI from $20.00 to $22.00 in a research report sent to investors on Wednesday,Benzinga reports. Evercore ISI currently has an in-line rating on the specialty retailer’s stock.

Other equities analysts have also issued research reports about the company. StockNews.com raised Nordstrom from a “hold” rating to a “buy” rating in a research note on Thursday, August 8th. Barclays raised shares of Nordstrom from an “underweight” rating to an “equal weight” rating and raised their target price for the company from $18.00 to $23.00 in a research note on Thursday, September 5th. BMO Capital Markets lifted their price target on shares of Nordstrom from $20.00 to $22.00 and gave the stock a “market perform” rating in a research report on Wednesday, August 28th. The Goldman Sachs Group increased their price objective on shares of Nordstrom from $19.00 to $21.00 and gave the company a “neutral” rating in a report on Wednesday, August 28th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Nordstrom from $19.00 to $20.00 and gave the stock an “underweight” rating in a report on Wednesday, August 28th. Three equities research analysts have rated the stock with a sell rating, ten have given a hold rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $21.29.

Nordstrom Stock Up 0.4 %

Shares of NYSE:JWN opened at $22.71 on Wednesday. The company has a quick ratio of 0.41, a current ratio of 1.14 and a debt-to-equity ratio of 2.65. The firm has a market cap of $3.73 billion, a P/E ratio of 14.47 and a beta of 2.59. Nordstrom has a 12 month low of $15.08 and a 12 month high of $24.99. The company’s 50-day moving average price is $22.85 and its two-hundred day moving average price is $22.24.

Nordstrom (NYSE:JWN) last issued its quarterly earnings results on Tuesday, November 26th. The specialty retailer reported $0.33 earnings per share for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $3.34 billion. During the same quarter last year, the business posted $0.25 earnings per share. Nordstrom’s revenue for the quarter was up 4.6% compared to the same quarter last year. As a group, research analysts forecast that Nordstrom will post 1.93 EPS for the current fiscal year.

Nordstrom Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Tuesday, December 3rd will be issued a $0.19 dividend. The ex-dividend date of this dividend is Tuesday, December 3rd. This represents a $0.76 annualized dividend and a dividend yield of 3.35%. Nordstrom’s dividend payout ratio (DPR) is currently 48.41%.

Insider Transactions at Nordstrom

In related news, COO Alexis Depree sold 20,000 shares of the firm’s stock in a transaction on Tuesday, September 24th. The shares were sold at an average price of $23.20, for a total transaction of $464,000.00. Following the sale, the chief operating officer now directly owns 169,331 shares in the company, valued at $3,928,479.20. This trade represents a 10.56 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 5.78% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Nordstrom

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Venturi Wealth Management LLC lifted its holdings in shares of Nordstrom by 355.9% in the third quarter. Venturi Wealth Management LLC now owns 1,272 shares of the specialty retailer’s stock valued at $29,000 after purchasing an additional 993 shares in the last quarter. Atlas Capital Advisors LLC boosted its holdings in Nordstrom by 101.8% during the second quarter. Atlas Capital Advisors LLC now owns 1,491 shares of the specialty retailer’s stock worth $32,000 after purchasing an additional 752 shares during the last quarter. Rothschild Investment LLC acquired a new position in Nordstrom during the second quarter worth $39,000. Blue Trust Inc. grew its position in Nordstrom by 10,045.8% in the second quarter. Blue Trust Inc. now owns 2,435 shares of the specialty retailer’s stock valued at $49,000 after purchasing an additional 2,411 shares in the last quarter. Finally, Point72 Hong Kong Ltd acquired a new stake in Nordstrom in the 2nd quarter valued at $71,000. 88.73% of the stock is owned by institutional investors and hedge funds.

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.