Nordstrom (NYSE:JWN) Shares Gap Down to $23.48

Nordstrom, Inc. (NYSE:JWN)’s share price gapped down before the market opened on Monday . The stock had previously closed at $23.48, but opened at $22.70. Nordstrom shares last traded at $22.69, with a volume of 275,108 shares trading hands.

Analysts Set New Price Targets

JWN has been the subject of a number of recent analyst reports. Bank of America upped their target price on Nordstrom from $15.00 to $18.00 and gave the company an “underperform” rating in a report on Friday, May 31st. Telsey Advisory Group increased their price objective on Nordstrom from $19.00 to $23.00 and gave the stock a “market perform” rating in a report on Tuesday, July 9th. Evercore ISI raised their price target on Nordstrom from $17.00 to $19.00 and gave the company an “in-line” rating in a report on Friday, May 31st. Barclays raised their price target on Nordstrom from $15.00 to $18.00 and gave the company an “underweight” 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 equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $17.75.

Nordstrom Trading Down 1.6 %

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 stock has a 50 day simple moving average of $21.45 and a 200-day simple moving average of $19.84. The firm has a market cap of $3.78 billion, a P/E ratio of 12.83, a P/E/G ratio of 2.69 and a beta of 2.62.

Nordstrom (NYSE:JWN) last released its quarterly earnings data on Thursday, May 30th. The specialty retailer reported ($0.24) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.16). The firm had revenue of $3.34 billion during the quarter, compared to the consensus estimate of $3.19 billion. Nordstrom had a negative return on equity of 26.45% and a negative net margin of 1.35%. The business’s revenue was up 4.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.07 EPS. On average, equities research analysts expect that Nordstrom, Inc. will post 1.79 EPS for the current fiscal year.

Nordstrom Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 19th. Stockholders of record on Tuesday, June 4th were issued a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 3.29%. The ex-dividend date was Tuesday, June 4th. Nordstrom’s dividend payout ratio (DPR) is 41.53%.

Hedge Funds Weigh In On Nordstrom

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Register Financial Advisors LLC purchased a new stake in shares of Nordstrom in the 1st quarter worth $30,000. Hexagon Capital Partners LLC boosted its position in Nordstrom by 77.6% during the fourth quarter. Hexagon Capital Partners LLC now owns 1,989 shares of the specialty retailer’s stock worth $37,000 after purchasing an additional 869 shares in the last quarter. Spire Wealth Management boosted its position in Nordstrom by 100.0% during the first quarter. Spire Wealth Management now owns 2,200 shares of the specialty retailer’s stock worth $45,000 after purchasing an additional 1,100 shares in the last quarter. CWM LLC boosted its position in Nordstrom by 1,000.3% during the first quarter. CWM LLC now owns 3,730 shares of the specialty retailer’s stock worth $76,000 after purchasing an additional 3,391 shares in the last quarter. Finally, Acadian Asset Management LLC boosted its position in Nordstrom by 217.5% during the first quarter. Acadian Asset Management LLC now owns 4,670 shares of the specialty retailer’s stock worth $94,000 after purchasing an additional 3,199 shares in 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.