Brokerages Set Nordstrom, Inc. (NYSE:JWN) Price Target at $21.13

Nordstrom, Inc. (NYSE:JWN) has been given an average recommendation of “Reduce” by the fourteen ratings firms that are currently covering the stock, MarketBeat reports. Four analysts have rated the stock with a sell rating and ten have assigned a hold rating to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $21.13.

JWN has been the subject of a number of analyst reports. StockNews.com assumed coverage on shares of Nordstrom in a research report on Thursday, January 2nd. They set a “buy” rating for the company. Telsey Advisory Group cut their price target on shares of Nordstrom from $26.00 to $24.00 and set a “market perform” rating on the stock in a report on Tuesday, December 24th. KeyCorp downgraded shares of Nordstrom from an “overweight” rating to a “sector weight” rating in a research report on Thursday, September 26th. Argus lowered Nordstrom from a “buy” rating to a “sell” rating in a research note on Monday, December 30th. Finally, Bank of America raised their target price on Nordstrom from $20.00 to $22.00 and gave the stock an “underperform” rating in a report on Wednesday, November 27th.

Nordstrom Trading Down 0.0 %

JWN opened at $24.15 on Friday. 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 firm has a market cap of $3.99 billion, a price-to-earnings ratio of 15.38 and a beta of 2.52. Nordstrom has a 12 month low of $16.78 and a 12 month high of $24.99. The stock has a fifty day moving average price of $23.32 and a 200-day moving average price of $22.64.

Nordstrom (NYSE:JWN) last announced its 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 the consensus estimate of $3.34 billion. Nordstrom had a negative net margin of 1.57% and a negative return on equity of 18.04%. The firm’s revenue was up 4.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.25 earnings per share. As a group, equities research analysts anticipate that Nordstrom will post 1.94 earnings per share for the current fiscal year.

Nordstrom Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, December 18th. Stockholders of record on Tuesday, December 3rd were paid a dividend of $0.19 per share. The ex-dividend date was Tuesday, December 3rd. This represents a $0.76 dividend on an annualized basis and a dividend yield of 3.15%. Nordstrom’s dividend payout ratio is currently 48.41%.

Institutional Investors Weigh In On Nordstrom

Institutional investors have recently bought and sold shares of the company. Victory Capital Management Inc. boosted its stake in shares of Nordstrom by 1.7% in the second quarter. Victory Capital Management Inc. now owns 3,371,988 shares of the specialty retailer’s stock worth $71,554,000 after acquiring an additional 57,546 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in Nordstrom by 4.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,136,639 shares of the specialty retailer’s stock worth $66,557,000 after purchasing an additional 137,094 shares during the last quarter. American Century Companies Inc. grew its holdings in shares of Nordstrom by 66.2% during the second quarter. American Century Companies Inc. now owns 1,661,227 shares of the specialty retailer’s stock worth $35,251,000 after buying an additional 661,769 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Nordstrom by 0.3% in the third quarter. Geode Capital Management LLC now owns 1,625,616 shares of the specialty retailer’s stock valued at $36,570,000 after buying an additional 5,407 shares during the last quarter. Finally, Marshall Wace LLP lifted its stake in shares of Nordstrom by 38.4% in the second quarter. Marshall Wace LLP now owns 1,479,414 shares of the specialty retailer’s stock worth $31,393,000 after buying an additional 410,152 shares in the last quarter. 88.73% of the stock is currently owned by institutional investors and hedge funds.

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.