Nordstrom, Inc. (NYSE:JWN) Receives $20.33 Average Target Price from Brokerages

Shares of Nordstrom, Inc. (NYSE:JWN) have received an average rating of “Reduce” from the thirteen ratings firms that are currently covering the firm, MarketBeat.com 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 target among analysts that have issued a report on the stock in the last year is $20.33.

A number of equities research analysts recently issued reports on JWN shares. JPMorgan Chase & Co. upped their target price on Nordstrom from $19.00 to $20.00 and gave the company an “underweight” rating in a research note on Wednesday, August 28th. KeyCorp downgraded Nordstrom from an “overweight” rating to a “sector weight” rating in a report on Thursday, September 26th. TD Cowen lifted their price objective on Nordstrom from $24.00 to $25.00 and gave the company a “hold” rating in a research report on Wednesday, August 28th. Bank of America lifted their price target on Nordstrom from $18.00 to $20.00 and gave the company an “underperform” rating in a report on Wednesday, August 28th. Finally, Barclays upgraded shares of Nordstrom from an “underweight” rating to an “equal weight” rating and increased their price objective for the stock from $18.00 to $23.00 in a report on Thursday, September 5th.

Nordstrom Price Performance

JWN stock opened at $22.31 on Friday. The firm has a 50 day moving average of $22.74 and a 200-day moving average of $22.07. The company has a market cap of $3.66 billion, a price-to-earnings ratio of 13.05 and a beta of 2.59. 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 12-month low of $13.68 and a 12-month high of $24.93.

Nordstrom (NYSE:JWN) last announced its quarterly earnings results on Tuesday, August 27th. The specialty retailer reported $0.96 earnings per share for the quarter, beating analysts’ consensus estimates of $0.71 by $0.25. The business had revenue of $3.89 billion during the quarter, compared to analysts’ expectations of $3.88 billion. Nordstrom had a negative return on equity of 21.26% and a negative net margin of 1.44%. The business’s revenue for the quarter was up 3.2% on a year-over-year basis. During the same quarter last year, the business posted $0.84 earnings per share. As a group, equities analysts expect that Nordstrom will post 1.91 EPS for the current fiscal year.

Nordstrom Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 18th. Stockholders of record on Tuesday, September 3rd were paid a dividend of $0.19 per share. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $0.76 annualized dividend and a dividend yield of 3.41%. Nordstrom’s dividend payout ratio is presently 44.44%.

Insider Transactions at Nordstrom

In other Nordstrom news, COO Alexis Depree sold 20,000 shares of the firm’s stock in a transaction on Tuesday, September 24th. The stock was 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 in the company, valued at approximately $3,928,479.20. This trade represents a 10.56 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 5.78% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Venturi Wealth Management LLC increased its stake in shares of Nordstrom by 355.9% during the third quarter. Venturi Wealth Management LLC now owns 1,272 shares of the specialty retailer’s stock valued at $29,000 after acquiring an additional 993 shares during the period. Atlas Capital Advisors LLC boosted its stake in Nordstrom by 101.8% during the second quarter. Atlas Capital Advisors LLC now owns 1,491 shares of the specialty retailer’s stock valued at $32,000 after buying an additional 752 shares in the last quarter. Rothschild Investment LLC acquired a new position in Nordstrom during the second quarter worth about $39,000. Blue Trust Inc. raised its holdings in shares of Nordstrom by 10,045.8% in the 2nd quarter. Blue Trust Inc. now owns 2,435 shares of the specialty retailer’s stock worth $49,000 after purchasing an additional 2,411 shares in the last quarter. Finally, Point72 Hong Kong Ltd acquired a new stake in Nordstrom during the second quarter valued at approximately $71,000. 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.