Nordstrom (NYSE:JWN) Trading Up 4.2% – Time to Buy?

Nordstrom, Inc. (NYSE:JWN)’s share price traded up 4.2% during mid-day trading on Tuesday . The company traded as high as $24.01 and last traded at $23.88. 911,465 shares changed hands during trading, a decline of 72% from the average session volume of 3,200,628 shares. The stock had previously closed at $22.91.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on JWN shares. TD Cowen lifted their price objective on shares of Nordstrom from $24.00 to $25.00 and gave the stock a “hold” rating in a research note on Wednesday, August 28th. JPMorgan Chase & Co. boosted their price target on Nordstrom from $19.00 to $20.00 and gave the company an “underweight” rating in a research note on Wednesday, August 28th. StockNews.com upgraded Nordstrom from a “hold” rating to a “buy” rating in a research note on Thursday, August 8th. BMO Capital Markets upped their target price on Nordstrom from $20.00 to $22.00 and gave the company a “market perform” rating in a research report on Wednesday, August 28th. Finally, Telsey Advisory Group raised their price target on shares of Nordstrom from $23.00 to $24.00 and gave the stock a “market perform” rating in a research report on Wednesday, August 28th. Three analysts have rated the stock with a sell rating, ten have issued a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, Nordstrom currently has a consensus rating of “Hold” and an average price target of $20.23.

Nordstrom Stock Performance

The business’s 50-day simple moving average is $22.18 and its two-hundred day simple moving average is $21.38. The company has a quick ratio of 0.41, a current ratio of 1.07 and a debt-to-equity ratio of 2.76. The firm has a market cap of $3.94 billion, a price-to-earnings ratio of 12.52 and a beta of 2.60.

Nordstrom (NYSE:JWN) last issued its quarterly earnings results on Tuesday, August 27th. The specialty retailer reported $0.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.71 by $0.25. Nordstrom had a negative return on equity of 21.26% and a negative net margin of 1.44%. The company had revenue of $3.89 billion for the quarter, compared to the consensus estimate of $3.88 billion. During the same quarter in the prior year, the business posted $0.84 earnings per share. Nordstrom’s revenue for the quarter was up 3.2% on a year-over-year basis. As a group, sell-side analysts expect that Nordstrom, Inc. will post 1.89 earnings per share for the current fiscal year.

Nordstrom Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 18th. Investors of record on Tuesday, September 3rd were issued a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 3.16%. The ex-dividend date was Tuesday, September 3rd. Nordstrom’s payout ratio is presently 41.53%.

Insider Buying and Selling at Nordstrom

In other news, COO Alexis Depree sold 20,000 shares of the business’s stock in a transaction dated Tuesday, September 24th. The shares were sold at an average price of $23.20, for a total transaction of $464,000.00. Following the completion of the sale, the chief operating officer now owns 169,331 shares of the company’s stock, valued at $3,928,479.20. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 5.78% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in JWN. CANADA LIFE ASSURANCE Co raised its position in shares of Nordstrom by 0.6% in the first quarter. CANADA LIFE ASSURANCE Co now owns 90,144 shares of the specialty retailer’s stock valued at $1,828,000 after buying an additional 520 shares during the last quarter. State of Michigan Retirement System grew its stake in Nordstrom by 2.6% during the 1st quarter. State of Michigan Retirement System now owns 23,908 shares of the specialty retailer’s stock valued at $485,000 after acquiring an additional 600 shares in the last quarter. Hexagon Capital Partners LLC raised its holdings in Nordstrom by 33.1% in the 1st quarter. Hexagon Capital Partners LLC now owns 2,648 shares of the specialty retailer’s stock valued at $54,000 after acquiring an additional 659 shares during the last quarter. Atlas Capital Advisors LLC lifted its stake in Nordstrom by 101.8% in the 2nd 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 in the last quarter. Finally, CWM LLC boosted its holdings in shares of Nordstrom by 28.7% during the 3rd quarter. CWM LLC now owns 3,628 shares of the specialty retailer’s stock worth $82,000 after purchasing an additional 810 shares during the last quarter. Hedge funds and other institutional investors own 88.73% of the company’s stock.

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.