Nordstrom, Inc. (NYSE:JWN) Announces Quarterly Dividend of $0.19

Nordstrom, Inc. (NYSE:JWN) declared a quarterly dividend on Wednesday, November 20th,RTT News reports. Investors of record on Tuesday, December 3rd will be given a dividend of 0.19 per share by the specialty retailer on Wednesday, December 18th. This represents a $0.76 dividend on an annualized basis and a yield of 3.41%.

Nordstrom has increased its dividend payment by an average of 27.1% annually over the last three years. Nordstrom has a dividend payout ratio of 38.4% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Nordstrom to earn $1.95 per share next year, which means the company should continue to be able to cover its $0.76 annual dividend with an expected future payout ratio of 39.0%.

Nordstrom Stock Down 1.8 %

JWN stock opened at $22.26 on Thursday. The firm has a fifty day moving average price of $22.76 and a two-hundred day moving average price of $22.11. The company has a debt-to-equity ratio of 2.76, a current ratio of 1.07 and a quick ratio of 0.41. Nordstrom has a 1-year low of $13.68 and a 1-year high of $24.93. The firm has a market cap of $3.65 billion, a price-to-earnings ratio of 13.01 and a beta of 2.59.

Nordstrom (NYSE:JWN) last posted its earnings results on Tuesday, August 27th. The specialty retailer reported $0.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.71 by $0.25. The company had revenue of $3.89 billion for 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 firm’s quarterly revenue was up 3.2% compared to the same quarter last year. During the same period last year, the business posted $0.84 earnings per share. Research analysts predict that Nordstrom will post 1.91 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the stock. Telsey Advisory Group reiterated a “market perform” rating and set a $24.00 price objective on shares of Nordstrom in a research note on Wednesday. BMO Capital Markets upped their price target on Nordstrom from $20.00 to $22.00 and gave the company a “market perform” rating in a report on Wednesday, August 28th. Citigroup increased their price objective on Nordstrom from $22.00 to $23.00 and gave the stock a “neutral” rating in a research note on Tuesday. KeyCorp cut Nordstrom from an “overweight” rating to a “sector weight” rating in a research note on Thursday, September 26th. Finally, StockNews.com upgraded shares of Nordstrom from a “hold” rating to a “buy” rating in a report on Thursday, August 8th. Three analysts have rated the stock with a sell rating, ten have issued a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $20.58.

Insiders Place Their Bets

In related news, COO Alexis Depree sold 20,000 shares of Nordstrom stock in a transaction dated Tuesday, September 24th. The stock was sold at an average price of $23.20, for a total transaction of $464,000.00. Following the sale, the chief operating officer now directly owns 169,331 shares of the company’s stock, valued at $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 Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 5.78% 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.