Nordstrom (NYSE:JWN) Now Covered by StockNews.com

StockNews.com assumed coverage on shares of Nordstrom (NYSE:JWN) in a research report report published on Thursday morning. The brokerage issued a buy rating on the specialty retailer’s stock.

Several other equities research analysts have also issued reports on the stock. Argus lowered shares of Nordstrom from a “buy” rating to a “sell” rating in a report on Monday. Barclays upgraded Nordstrom from an “underweight” rating to an “equal weight” rating and increased their target price for the stock from $18.00 to $23.00 in a research report on Thursday, September 5th. KeyCorp downgraded Nordstrom from an “overweight” rating to a “sector weight” rating in a research note on Thursday, September 26th. Bank of America upped their target price on shares of Nordstrom from $20.00 to $22.00 and gave the stock an “underperform” rating in a research report on Wednesday, November 27th. Finally, UBS Group raised their price objective on Nordstrom from $13.00 to $14.50 and gave the company a “sell” rating in a research report on Wednesday, November 27th. Four research analysts have rated the stock with a sell rating, ten have given a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $21.13.

Nordstrom Stock Performance

NYSE:JWN opened at $24.15 on Thursday. Nordstrom has a 12 month low of $16.63 and a 12 month high of $24.99. The company has a current ratio of 1.14, a quick ratio of 0.35 and a debt-to-equity ratio of 2.65. The company has a 50-day moving average price of $23.28 and a 200-day moving average price of $22.59. The stock has a market cap of $3.99 billion, a price-to-earnings ratio of 15.38 and a beta of 2.56.

Nordstrom (NYSE:JWN) last announced its earnings results on Tuesday, November 26th. The specialty retailer reported $0.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.22 by $0.11. Nordstrom had a negative return on equity of 18.04% and a negative net margin of 1.57%. The firm had revenue of $3.35 billion during the quarter, compared to analyst estimates of $3.34 billion. During the same quarter in the prior year, the company earned $0.25 EPS. The business’s revenue was up 4.6% compared to the same quarter last year. Equities 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 was paid on Wednesday, December 18th. Shareholders of record on Tuesday, December 3rd were given a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 3.15%. The ex-dividend date of this dividend was Tuesday, December 3rd. Nordstrom’s dividend payout ratio (DPR) is 48.41%.

Institutional Investors Weigh In On Nordstrom

Institutional investors have recently added to or reduced their stakes in the stock. Venturi Wealth Management LLC grew its position in Nordstrom by 355.9% during the 3rd quarter. Venturi Wealth Management LLC now owns 1,272 shares of the specialty retailer’s stock worth $29,000 after purchasing an additional 993 shares during the last quarter. Rothschild Investment LLC purchased a new position in Nordstrom in the second quarter valued at $39,000. Point72 Hong Kong Ltd purchased a new position in Nordstrom during the second quarter worth approximately $71,000. Blue Trust Inc. grew its stake in Nordstrom by 57.7% in the 3rd quarter. Blue Trust Inc. now owns 3,839 shares of the specialty retailer’s stock valued at $81,000 after acquiring an additional 1,404 shares during the period. Finally, CWM LLC raised its position in shares of Nordstrom by 28.7% during the 3rd quarter. CWM LLC now owns 3,628 shares of the specialty retailer’s stock worth $82,000 after purchasing an additional 810 shares during the last quarter. 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.