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

Nordstrom (NYSE:JWN) had its price objective upped by Evercore ISI from $20.00 to $22.00 in a research report report published on Wednesday,Benzinga reports. Evercore ISI currently has an in-line rating on the specialty retailer’s stock.

A number of other equities research analysts have also recently weighed in on JWN. KeyCorp cut Nordstrom from an “overweight” rating to a “sector weight” rating in a research note on Thursday, September 26th. The Goldman Sachs Group raised their target price on shares of Nordstrom from $19.00 to $21.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 28th. StockNews.com upgraded shares of Nordstrom from a “hold” rating to a “buy” rating in a research note on Thursday, August 8th. Citigroup raised their price objective on shares of Nordstrom from $22.00 to $23.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 19th. Finally, BMO Capital Markets upped their target price on Nordstrom from $20.00 to $22.00 and gave the company a “market perform” rating in a research report on Wednesday, August 28th. Three equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Nordstrom currently has a consensus rating of “Hold” and a consensus target price of $21.29.

Nordstrom Stock Performance

Shares of JWN opened at $22.71 on Wednesday. The company has a market cap of $3.73 billion, a PE ratio of 14.47 and a beta of 2.59. The firm has a 50-day moving average of $22.85 and a 200-day moving average of $22.24. Nordstrom has a one year low of $15.08 and a one year high of $24.99. The company has a debt-to-equity ratio of 2.65, a current ratio of 1.14 and a quick ratio of 0.41.

Nordstrom (NYSE:JWN) last posted its quarterly earnings results on Tuesday, November 26th. The specialty retailer reported $0.33 EPS for the quarter, topping analysts’ consensus estimates of $0.22 by $0.11. The business had revenue of $3.35 billion during the quarter, compared to analysts’ expectations of $3.34 billion. Nordstrom had a negative return on equity of 18.04% and a negative net margin of 1.57%. Nordstrom’s quarterly revenue was up 4.6% on a year-over-year basis. During the same quarter last year, the company posted $0.25 earnings per share. As a group, equities analysts forecast that Nordstrom will post 1.93 earnings per share for the current year.

Nordstrom Announces Dividend

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

Insider Buying and Selling

In other Nordstrom news, COO Alexis Depree sold 20,000 shares of the company’s stock in a transaction on Tuesday, September 24th. The stock was sold at an average price of $23.20, for a total transaction of $464,000.00. Following the completion of the sale, the chief operating officer now directly owns 169,331 shares in the company, valued at $3,928,479.20. This represents a 10.56 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 5.78% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Nordstrom

Several hedge funds and other institutional investors have recently modified their holdings of the business. Verition Fund Management LLC boosted its stake in Nordstrom by 147.4% in the third quarter. Verition Fund Management LLC now owns 1,218,365 shares of the specialty retailer’s stock valued at $27,401,000 after buying an additional 725,803 shares in the last quarter. American Century Companies Inc. lifted its holdings in shares of Nordstrom by 66.2% in the second quarter. American Century Companies Inc. now owns 1,661,227 shares of the specialty retailer’s stock worth $35,251,000 after acquiring an additional 661,769 shares during the last quarter. Vanguard Group Inc. boosted its stake 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 purchasing an additional 579,001 shares in the last quarter. Marshall Wace LLP grew its holdings in shares of Nordstrom by 38.4% during the 2nd quarter. Marshall Wace LLP now owns 1,479,414 shares of the specialty retailer’s stock valued at $31,393,000 after purchasing an additional 410,152 shares during the last quarter. Finally, NewSquare Capital LLC acquired a new position in Nordstrom during the 2nd quarter worth approximately $7,783,000. Institutional investors own 88.73% of the company’s stock.

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.