Analysts Set Nordstrom, Inc. (NYSE:JWN) Price Target at $19.85

Nordstrom, Inc. (NYSE:JWN) has been given a consensus rating of “Reduce” by the thirteen brokerages that are presently covering the firm, MarketBeat.com reports. Four investment analysts have rated the stock with a sell rating, eight have given a hold rating and one has assigned a buy rating to the company. The average 12-month target price among analysts that have covered the stock in the last year is $19.85.

A number of analysts have recently weighed in on JWN shares. JPMorgan Chase & Co. upped their price target on shares of Nordstrom from $19.00 to $20.00 and gave the stock an “underweight” rating in a research note on Wednesday, August 28th. Evercore ISI increased their price target on Nordstrom from $17.00 to $19.00 and gave the company an “in-line” rating in a research note on Friday, May 31st. The Goldman Sachs Group lifted their price target on Nordstrom from $19.00 to $21.00 and gave the company a “neutral” rating in a research report on Wednesday, August 28th. Bank of America upped their price objective on Nordstrom from $18.00 to $20.00 and gave the company an “underperform” rating in a report on Wednesday, August 28th. Finally, BMO Capital Markets lifted their target price on Nordstrom from $20.00 to $22.00 and gave the stock a “market perform” rating in a report on Wednesday, August 28th.

Hedge Funds Weigh In On Nordstrom

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in JWN. Algert Global LLC purchased a new stake in Nordstrom in the 2nd quarter worth about $210,000. Maverick Capital Ltd. increased its holdings in shares of Nordstrom by 7.1% in the 2nd quarter. Maverick Capital Ltd. now owns 118,834 shares of the specialty retailer’s stock valued at $2,522,000 after purchasing an additional 7,883 shares during the period. Deerfield Management Company L.P. Series C increased its holdings in shares of Nordstrom by 328.7% in the 2nd quarter. Deerfield Management Company L.P. Series C now owns 42,747 shares of the specialty retailer’s stock valued at $907,000 after purchasing an additional 32,776 shares during the period. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Nordstrom in the second quarter worth approximately $191,000. Finally, Point72 Hong Kong Ltd acquired a new stake in shares of Nordstrom during the second quarter worth approximately $71,000. Institutional investors and hedge funds own 88.73% of the company’s stock.

Nordstrom Stock Down 0.1 %

JWN opened at $22.79 on Monday. The stock’s 50 day moving average price is $22.01 and its 200 day moving average price is $20.74. The company has a debt-to-equity ratio of 2.76, a current ratio of 1.07 and a quick ratio of 0.36. The stock has a market cap of $3.73 billion, a P/E ratio of 12.48, a P/E/G ratio of 2.41 and a beta of 2.62. Nordstrom has a 12 month low of $12.88 and a 12 month high of $24.03.

Nordstrom (NYSE:JWN) last issued its quarterly earnings results on Tuesday, August 27th. The specialty retailer reported $0.96 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 analyst estimates of $3.88 billion. Nordstrom had a negative return on equity of 21.26% and a negative net margin of 1.44%. The company’s quarterly revenue was up 3.2% compared to the same quarter last year. During the same period last year, the company earned $0.84 earnings per share. As a group, research analysts predict that Nordstrom will post 1.9 earnings per share for the current year.

Nordstrom Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 18th. Stockholders of record on Tuesday, September 3rd will be issued a dividend of $0.19 per share. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $0.76 dividend on an annualized basis and a dividend yield of 3.33%. Nordstrom’s dividend payout ratio is currently 41.53%.

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.