Nordstrom (NYSE:JWN) Price Target Raised to $22.00

Nordstrom (NYSE:JWN) had its price objective raised by Bank of America from $20.00 to $22.00 in a research report report published on Wednesday,Benzinga reports. The brokerage currently has an underperform rating on the specialty retailer’s stock.

Other analysts have also issued research reports about the stock. The Goldman Sachs Group raised their price objective on shares of Nordstrom from $19.00 to $21.00 and gave the stock a “neutral” rating in a report on Wednesday, August 28th. BMO Capital Markets increased their price target on Nordstrom from $20.00 to $22.00 and gave the stock a “market perform” rating in a research report on Wednesday, August 28th. KeyCorp downgraded Nordstrom from an “overweight” rating to a “sector weight” rating in a research report on Thursday, September 26th. Barclays upgraded shares of Nordstrom from an “underweight” rating to an “equal weight” rating and upped their target price for the stock from $18.00 to $23.00 in a research report on Thursday, September 5th. Finally, Telsey Advisory Group boosted their price objective on shares of Nordstrom from $24.00 to $26.00 and gave the stock a “market perform” rating in a research report on Wednesday. Three analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $21.29.

Nordstrom Stock Performance

Shares of NYSE:JWN opened at $22.71 on Wednesday. The company has a debt-to-equity ratio of 2.65, a current ratio of 1.14 and a quick ratio of 0.41. The business’s fifty day moving average price is $22.85 and its two-hundred day moving average price is $22.24. Nordstrom has a fifty-two week low of $15.08 and a fifty-two week high of $24.99. The stock has a market capitalization of $3.73 billion, a price-to-earnings ratio of 14.47 and a beta of 2.59.

Nordstrom (NYSE:JWN) last issued its earnings results on Tuesday, November 26th. The specialty retailer reported $0.33 EPS for the quarter, beating the consensus estimate of $0.22 by $0.11. The company had revenue of $3.35 billion for the quarter, compared to the consensus estimate of $3.34 billion. Nordstrom had a negative net margin of 1.57% and a negative return on equity of 18.04%. The firm’s revenue for the quarter was up 4.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.25 EPS. As a group, analysts predict that Nordstrom will post 1.93 EPS for the current fiscal year.

Nordstrom Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Tuesday, December 3rd will be paid a dividend of $0.19 per share. The ex-dividend date is Tuesday, December 3rd. This represents a $0.76 dividend on an annualized basis and a dividend yield of 3.35%. Nordstrom’s dividend payout ratio (DPR) is presently 48.41%.

Insider Buying and Selling at Nordstrom

In related news, COO Alexis Depree sold 20,000 shares of Nordstrom stock in a transaction that occurred on Tuesday, September 24th. The shares were sold at an average price of $23.20, for a total transaction of $464,000.00. Following the transaction, the chief operating officer now owns 169,331 shares of the company’s stock, valued at $3,928,479.20. This trade represents a 10.56 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 5.78% of the company’s stock.

Institutional Investors Weigh In On Nordstrom

Large investors have recently bought and sold shares of the company. Vanguard Group Inc. grew its holdings in shares of Nordstrom by 5.7% in the 1st quarter. Vanguard Group Inc. now owns 10,653,007 shares of the specialty retailer’s stock valued at $215,936,000 after buying an additional 579,001 shares during the period. Victory Capital Management Inc. grew its stake in Nordstrom by 1.7% in the second quarter. Victory Capital Management Inc. now owns 3,371,988 shares of the specialty retailer’s stock valued at $71,554,000 after acquiring an additional 57,546 shares during the period. Dimensional Fund Advisors LP increased its holdings in shares of Nordstrom by 4.6% in the second quarter. Dimensional Fund Advisors LP now owns 3,136,639 shares of the specialty retailer’s stock worth $66,557,000 after acquiring an additional 137,094 shares in the last quarter. American Century Companies Inc. raised its position in shares of Nordstrom by 66.2% during the second quarter. American Century Companies Inc. now owns 1,661,227 shares of the specialty retailer’s stock worth $35,251,000 after purchasing an additional 661,769 shares during the period. Finally, Geode Capital Management LLC raised its position in shares of Nordstrom by 0.3% during the third quarter. Geode Capital Management LLC now owns 1,625,616 shares of the specialty retailer’s stock worth $36,570,000 after purchasing an additional 5,407 shares during the period. 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.