Nordstrom (NYSE:JWN) Shares Gap Down to $21.33

Nordstrom, Inc. (NYSE:JWN)’s stock price gapped down prior to trading on Thursday . The stock had previously closed at $21.33, but opened at $20.90. Nordstrom shares last traded at $20.91, with a volume of 275,047 shares changing hands.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on JWN shares. Jefferies Financial Group reissued a “hold” rating and issued a $17.00 price target (down previously from $18.00) on shares of Nordstrom in a report on Thursday, March 7th. StockNews.com downgraded Nordstrom from a “buy” rating to a “hold” rating in a report on Tuesday. Bank of America lifted their price objective on Nordstrom from $15.00 to $18.00 and gave the company an “underperform” rating in a report on Friday, May 31st. Piper Sandler increased their target price on Nordstrom from $17.00 to $20.00 and gave the stock a “neutral” rating in a research note on Wednesday, March 6th. Finally, Evercore ISI lifted their price target on shares of Nordstrom from $17.00 to $19.00 and gave the company an “in-line” rating in a research note on Friday, May 31st. Five research analysts have rated the stock with a sell rating, seven have given a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $17.42.

Nordstrom Stock Performance

The stock’s 50-day moving average price is $20.92 and its 200 day moving average price is $19.55. The firm has a market cap of $3.47 billion, a P/E ratio of 11.60, a price-to-earnings-growth ratio of 2.42 and a beta of 2.58. The company has a debt-to-equity ratio of 3.13, a current ratio of 1.03 and a quick ratio of 0.36.

Nordstrom (NYSE:JWN) last issued its quarterly earnings results on Thursday, May 30th. The specialty retailer reported ($0.24) EPS for the quarter, missing the consensus estimate of ($0.08) by ($0.16). Nordstrom had a negative return on equity of 26.45% and a negative net margin of 1.35%. The business had revenue of $3.34 billion for the quarter, compared to the consensus estimate of $3.19 billion. During the same period last year, the firm earned $0.07 earnings per share. The company’s quarterly revenue was up 4.8% compared to the same quarter last year. As a group, equities analysts predict that Nordstrom, Inc. will post 1.79 EPS for the current year.

Nordstrom Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 19th. Investors of record on Tuesday, June 4th were given a dividend of $0.19 per share. The ex-dividend date was Tuesday, June 4th. This represents a $0.76 annualized dividend and a yield of 3.58%. Nordstrom’s dividend payout ratio (DPR) is presently 41.53%.

Hedge Funds Weigh In On Nordstrom

Institutional investors have recently added to or reduced their stakes in the company. Garde Capital Inc. grew its position in shares of Nordstrom by 33.6% in the 1st quarter. Garde Capital Inc. now owns 37,308 shares of the specialty retailer’s stock valued at $756,000 after acquiring an additional 9,376 shares during the period. EMC Capital Management acquired a new stake in Nordstrom in the 1st quarter valued at about $186,000. Comerica Bank grew its holdings in Nordstrom by 59.9% during the first quarter. Comerica Bank now owns 75,806 shares of the specialty retailer’s stock worth $1,537,000 after purchasing an additional 28,411 shares during the period. Tidal Investments LLC acquired a new position in Nordstrom during the first quarter worth approximately $419,000. Finally, BOKF NA raised its stake in Nordstrom by 7.9% in the first quarter. BOKF NA now owns 121,455 shares of the specialty retailer’s stock valued at $2,449,000 after buying an additional 8,871 shares during the period. 88.73% of the stock is currently owned by institutional investors and hedge funds.

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.