Nordstrom (NYSE:JWN) Research Coverage Started at StockNews.com

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

Other equities research analysts have also issued reports about the company. KeyCorp lowered Nordstrom from an “overweight” rating to a “sector weight” rating in a research note on Thursday, September 26th. Telsey Advisory Group reiterated a “market perform” rating and issued a $24.00 price target on shares of Nordstrom in a research report on Monday, January 13th. Citigroup boosted their price objective on Nordstrom from $22.00 to $23.00 and gave the stock a “neutral” rating in a report on Tuesday, November 19th. Bank of America raised their target price on shares of Nordstrom from $20.00 to $22.00 and gave the stock an “underperform” rating in a report on Wednesday, November 27th. Finally, Argus lowered shares of Nordstrom from a “buy” rating to a “sell” rating in a report on Monday, December 30th. Three equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $22.17.

Nordstrom Price Performance

NYSE:JWN opened at $24.12 on Friday. The company has a quick ratio of 0.35, a current ratio of 1.14 and a debt-to-equity ratio of 2.65. The business’s 50-day moving average price is $23.58 and its 200 day moving average price is $22.84. Nordstrom has a 52-week low of $16.78 and a 52-week high of $24.99. The firm has a market cap of $3.98 billion, a P/E ratio of 15.36 and a beta of 2.52.

Nordstrom (NYSE:JWN) last announced its quarterly earnings data on Tuesday, November 26th. The specialty retailer reported $0.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.22 by $0.11. Nordstrom had a negative net margin of 1.57% and a negative return on equity of 18.04%. The company had revenue of $3.35 billion for the quarter, compared to analysts’ expectations of $3.34 billion. During the same quarter in the previous year, the company posted $0.25 EPS. The business’s revenue was up 4.6% compared to the same quarter last year. As a group, sell-side analysts predict that Nordstrom will post 1.95 earnings per share for the current fiscal year.

Nordstrom Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 18th. Investors of record on Tuesday, December 3rd were issued a dividend of $0.19 per share. The ex-dividend date of this dividend was Tuesday, December 3rd. This represents a $0.76 annualized dividend and a dividend yield of 3.15%. Nordstrom’s dividend payout ratio is 48.41%.

Institutional Investors Weigh In On Nordstrom

Institutional investors have recently made changes to their positions in the company. Venturi Wealth Management LLC raised its position in Nordstrom by 355.9% during the third quarter. Venturi Wealth Management LLC now owns 1,272 shares of the specialty retailer’s stock valued at $29,000 after acquiring an additional 993 shares in the last quarter. Point72 Hong Kong Ltd bought a new position in shares of Nordstrom during the 2nd quarter valued at $71,000. CWM LLC lifted its stake in shares of Nordstrom by 28.7% in the 3rd quarter. CWM LLC now owns 3,628 shares of the specialty retailer’s stock valued at $82,000 after purchasing an additional 810 shares during the last quarter. Blue Trust Inc. boosted its holdings in Nordstrom by 57.7% in the third quarter. Blue Trust Inc. now owns 3,839 shares of the specialty retailer’s stock worth $81,000 after purchasing an additional 1,404 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale increased its position in Nordstrom by 70.5% during the second quarter. DekaBank Deutsche Girozentrale now owns 5,387 shares of the specialty retailer’s stock worth $112,000 after buying an additional 2,227 shares during the last quarter. 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.