Nordstrom (NYSE:JWN) Price Target Raised to $23.00

Nordstrom (NYSE:JWN) had its price objective lifted by Telsey Advisory Group from $19.00 to $23.00 in a report released on Tuesday morning, MarketBeat Ratings reports. They currently have a market perform rating on the specialty retailer’s stock.

JWN has been the subject of several other reports. StockNews.com upgraded shares of Nordstrom from a hold rating to a buy rating in a research note on Wednesday, July 3rd. Barclays lifted their target price on shares of Nordstrom from $15.00 to $18.00 and gave the company an underweight rating in a report on Friday, May 31st. Evercore ISI raised their price objective on Nordstrom from $17.00 to $19.00 and gave the company an in-line rating in a research report on Friday, May 31st. Bank of America boosted their target price on Nordstrom from $15.00 to $18.00 and gave the stock an underperform rating in a report on Friday, May 31st. Finally, JPMorgan Chase & Co. raised their price target on Nordstrom from $15.00 to $17.00 and gave the company an underweight rating in a report on Friday, May 17th. Five investment analysts have rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of Hold and a consensus target price of $17.75.

Nordstrom Trading Up 6.8 %

Shares of JWN opened at $23.39 on Tuesday. Nordstrom has a 1-year low of $12.88 and a 1-year high of $23.54. The company has a current ratio of 1.03, a quick ratio of 0.36 and a debt-to-equity ratio of 3.13. The firm’s 50-day moving average price is $21.31 and its 200-day moving average price is $19.77. The firm has a market capitalization of $3.83 billion, a price-to-earnings ratio of 12.78, a PEG ratio of 2.51 and a beta of 2.62.

Nordstrom (NYSE:JWN) last posted its earnings results on Thursday, May 30th. The specialty retailer reported ($0.24) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.16). The firm had revenue of $3.34 billion for the quarter, compared to analysts’ expectations of $3.19 billion. Nordstrom had a negative return on equity of 26.45% and a negative net margin of 1.35%. The firm’s revenue was up 4.8% on a year-over-year basis. During the same quarter last year, the company posted $0.07 EPS. Sell-side analysts anticipate that Nordstrom will post 1.79 EPS for the current year.

Nordstrom Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 19th. Stockholders of record on Tuesday, June 4th were paid a $0.19 dividend. The ex-dividend date of this dividend was Tuesday, June 4th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 3.25%. Nordstrom’s dividend payout ratio (DPR) is currently 41.53%.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. Graham Capital Management L.P. purchased a new stake in shares of Nordstrom during the 3rd quarter valued at about $501,000. EP Wealth Advisors LLC raised its position in Nordstrom by 120.3% in the third quarter. EP Wealth Advisors LLC now owns 12,027 shares of the specialty retailer’s stock worth $180,000 after acquiring an additional 6,567 shares during the period. Wellington Management Group LLP boosted its stake in shares of Nordstrom by 52.9% during the 3rd quarter. Wellington Management Group LLP now owns 363,690 shares of the specialty retailer’s stock worth $5,434,000 after acquiring an additional 125,877 shares during the last quarter. Teachers Retirement System of The State of Kentucky grew its position in shares of Nordstrom by 20.6% during the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 109,044 shares of the specialty retailer’s stock valued at $1,629,000 after acquiring an additional 18,648 shares during the period. Finally, Rowlandmiller & PARTNERS.ADV purchased a new stake in shares of Nordstrom in the 4th quarter worth $119,000. 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.