Brokerages Set Nordstrom, Inc. (NYSE:JWN) Price Target at $20.23

Nordstrom, Inc. (NYSE:JWN) has received a consensus recommendation of “Reduce” from the thirteen brokerages that are currently covering the stock, Marketbeat.com reports. Three analysts have rated the stock with a sell recommendation and ten have assigned a hold recommendation to the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $20.33.

Several research firms recently issued reports on JWN. Telsey Advisory Group raised their price objective on shares of Nordstrom from $23.00 to $24.00 and gave the stock a “market perform” rating in a research report on Wednesday, August 28th. KeyCorp lowered shares of Nordstrom from an “overweight” rating to a “sector weight” rating in a research report on Thursday, September 26th. StockNews.com upgraded Nordstrom from a “hold” rating to a “buy” rating in a report on Thursday, August 8th. Bank of America raised their target price on Nordstrom from $18.00 to $20.00 and gave the stock an “underperform” rating in a research note on Wednesday, August 28th. Finally, TD Cowen upped their price target on Nordstrom from $24.00 to $25.00 and gave the company a “hold” rating in a research note on Wednesday, August 28th.

Nordstrom Trading Down 0.7 %

Shares of Nordstrom stock opened at $22.54 on Tuesday. The company has a debt-to-equity ratio of 2.76, a current ratio of 1.07 and a quick ratio of 0.41. The stock’s 50 day simple moving average is $22.49 and its 200-day simple moving average is $21.59. The stock has a market cap of $3.70 billion, a P/E ratio of 13.18 and a beta of 2.60. Nordstrom has a 1-year low of $12.88 and a 1-year high of $24.93.

Nordstrom (NYSE:JWN) last released its quarterly earnings data on Tuesday, August 27th. The specialty retailer reported $0.96 earnings per share for the quarter, topping analysts’ consensus estimates of $0.71 by $0.25. Nordstrom had a negative return on equity of 21.26% and a negative net margin of 1.44%. The company had revenue of $3.89 billion for the quarter, compared to analyst estimates of $3.88 billion. During the same quarter in the previous year, the company posted $0.84 earnings per share. The firm’s revenue for the quarter was up 3.2% compared to the same quarter last year. Analysts predict that Nordstrom will post 1.89 EPS for the current fiscal year.

Nordstrom Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 18th. Investors of record on Tuesday, September 3rd were issued a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 3.37%. The ex-dividend date of this dividend was Tuesday, September 3rd. Nordstrom’s dividend payout ratio (DPR) is currently 44.44%.

Insider Buying and Selling

In other news, COO Alexis Depree sold 20,000 shares of the stock in a transaction on Tuesday, September 24th. The stock was sold at an average price of $23.20, for a total value of $464,000.00. Following the sale, the chief operating officer now directly owns 169,331 shares in the company, valued at approximately $3,928,479.20. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 5.78% of the stock is owned by insiders.

Institutional Trading of Nordstrom

A number of large investors have recently made changes to their positions in the company. Capstone Investment Advisors LLC increased its holdings in Nordstrom by 185.0% in the first quarter. Capstone Investment Advisors LLC now owns 211,471 shares of the specialty retailer’s stock valued at $4,287,000 after buying an additional 137,271 shares during the last quarter. Cyndeo Wealth Partners LLC acquired a new stake in shares of Nordstrom during the 3rd quarter worth about $6,248,000. Vanguard Group Inc. raised its position in shares of Nordstrom by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 10,074,006 shares of the specialty retailer’s stock worth $185,865,000 after acquiring an additional 46,980 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp lifted its stake in Nordstrom by 2.1% during the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 199,586 shares of the specialty retailer’s stock worth $4,024,000 after purchasing an additional 4,187 shares during the last quarter. Finally, Point72 DIFC Ltd acquired a new position in Nordstrom in the second quarter valued at approximately $1,174,000. 88.73% of the stock is currently owned by hedge funds and other institutional investors.

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.