Nordstrom (NYSE:JWN) Now Covered by StockNews.com

StockNews.com started coverage on shares of Nordstrom (NYSE:JWN) in a research note published on Friday. The brokerage issued a buy rating on the specialty retailer’s stock.

JWN has been the subject of a number of other research reports. Telsey Advisory Group cut their target price on shares of Nordstrom from $26.00 to $24.00 and set a “market perform” rating for the company in a research report on Tuesday, December 24th. KeyCorp lowered Nordstrom from an “overweight” rating to a “sector weight” rating in a research note on Thursday, September 26th. Bank of America raised their price target on Nordstrom from $20.00 to $22.00 and gave the stock an “underperform” rating in a research report on Wednesday, November 27th. UBS Group upped their price objective on Nordstrom from $13.00 to $14.50 and gave the company a “sell” rating in a research report on Wednesday, November 27th. Finally, Evercore ISI lifted their price objective on Nordstrom from $20.00 to $22.00 and gave the stock an “in-line” rating in a research report on Wednesday, November 27th. Three analysts have rated the stock with a sell rating, eleven have issued a hold rating and one has given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $21.92.

Nordstrom Price Performance

JWN stock opened at $24.03 on Friday. The firm has a 50 day moving average of $23.41 and a 200-day moving average of $22.70. The company has a market cap of $3.97 billion, a price-to-earnings ratio of 15.31 and a beta of 2.52. 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 has a 12-month low of $16.78 and a 12-month high of $24.99.

Nordstrom (NYSE:JWN) last posted its earnings results on Tuesday, November 26th. The specialty retailer reported $0.33 EPS for the quarter, topping analysts’ consensus estimates of $0.22 by $0.11. Nordstrom had a negative return on equity of 18.04% and a negative net margin of 1.57%. The company had revenue of $3.35 billion for the quarter, compared to the consensus estimate of $3.34 billion. During the same period in the previous year, the business earned $0.25 earnings per share. Nordstrom’s quarterly revenue was up 4.6% compared to the same quarter last year. As a group, equities analysts expect that Nordstrom will post 1.94 EPS for the current fiscal year.

Nordstrom Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 18th. Stockholders of record on Tuesday, December 3rd were issued a dividend of $0.19 per share. The ex-dividend date was Tuesday, December 3rd. This represents a $0.76 dividend on an annualized basis and a dividend yield of 3.16%. Nordstrom’s payout ratio is 48.41%.

Institutional Investors Weigh In On Nordstrom

A number of institutional investors have recently added to or reduced their stakes in the company. Venturi Wealth Management LLC lifted its stake in shares of Nordstrom by 355.9% in the 3rd 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. Point72 Hong Kong Ltd acquired a new position in Nordstrom during the second quarter valued at approximately $71,000. Blue Trust Inc. grew its stake in Nordstrom by 57.7% during the third quarter. Blue Trust Inc. now owns 3,839 shares of the specialty retailer’s stock worth $81,000 after buying an additional 1,404 shares during the period. CWM LLC increased its position in shares of Nordstrom by 28.7% in the third quarter. CWM LLC now owns 3,628 shares of the specialty retailer’s stock worth $82,000 after acquiring an additional 810 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale raised its stake in shares of Nordstrom by 70.5% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 5,387 shares of the specialty retailer’s stock valued at $112,000 after acquiring an additional 2,227 shares during the period. Hedge funds and other 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.