Nordstrom, Inc. (NYSE:JWN) Receives $21.29 Average Target Price from Brokerages

Nordstrom, Inc. (NYSE:JWN) has been given an average recommendation of “Reduce” by the thirteen ratings firms that are covering the firm, 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 updated their coverage on the stock in the last year is $21.29.

A number of research firms have issued reports on JWN. UBS Group increased their price objective on Nordstrom from $13.00 to $14.50 and gave the stock a “sell” rating in a report on Wednesday, November 27th. Barclays raised shares of Nordstrom from an “underweight” rating to an “equal weight” rating and lifted their price target for the company from $18.00 to $23.00 in a research report on Thursday, September 5th. Telsey Advisory Group upped their price objective on shares of Nordstrom from $24.00 to $26.00 and gave the stock a “market perform” rating in a report on Wednesday, November 27th. KeyCorp lowered shares of Nordstrom from an “overweight” rating to a “sector weight” rating in a report on Thursday, September 26th. Finally, StockNews.com downgraded Nordstrom from a “strong-buy” rating to a “buy” rating in a research note on Thursday, December 5th.

Insider Activity

In other Nordstrom 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 value of $464,000.00. Following the completion of the sale, the chief operating officer now owns 169,331 shares of the company’s stock, valued at approximately $3,928,479.20. The trade was a 10.56 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 5.78% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of JWN. Verition Fund Management LLC increased its holdings in Nordstrom by 147.4% during 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 during the last quarter. American Century Companies Inc. grew its position in shares of Nordstrom by 66.2% during the 2nd quarter. American Century Companies Inc. now owns 1,661,227 shares of the specialty retailer’s stock valued at $35,251,000 after acquiring an additional 661,769 shares during the period. Marshall Wace LLP increased its stake in shares of Nordstrom by 38.4% in the 2nd quarter. Marshall Wace LLP now owns 1,479,414 shares of the specialty retailer’s stock worth $31,393,000 after purchasing an additional 410,152 shares in the last quarter. NewSquare Capital LLC bought a new position in Nordstrom in the 2nd quarter worth $7,783,000. Finally, Axiom Advisory LLC lifted its position in Nordstrom by 46.0% during the third quarter. Axiom Advisory LLC now owns 1,100,864 shares of the specialty retailer’s stock valued at $24,456,000 after purchasing an additional 346,994 shares in the last quarter. Institutional investors own 88.73% of the company’s stock.

Nordstrom Trading Up 3.0 %

JWN opened at $23.18 on Wednesday. Nordstrom has a one year low of $16.63 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 0.35. The business has a 50 day simple moving average of $23.00 and a two-hundred day simple moving average of $22.35. The firm has a market capitalization of $3.82 billion, a price-to-earnings ratio of 14.78 and a beta of 2.56.

Nordstrom (NYSE:JWN) last announced its earnings results on Tuesday, November 26th. The specialty retailer reported $0.33 EPS for the quarter, beating analysts’ consensus estimates of $0.22 by $0.11. The company had revenue of $3.35 billion during the quarter, compared to the consensus estimate of $3.34 billion. Nordstrom had a negative return on equity of 18.04% and a negative net margin of 1.57%. The firm’s revenue for the quarter was up 4.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.25 earnings per share. Analysts predict that Nordstrom will post 1.94 EPS for the current year.

Nordstrom Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Tuesday, December 3rd will be issued a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 3.28%. The ex-dividend date is Tuesday, December 3rd. Nordstrom’s payout ratio is 48.41%.

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.