Nordstrom (NYSE:JWN) Price Target Raised to $24.00 at Evercore ISI

Nordstrom (NYSE:JWN) had its price objective boosted by Evercore ISI from $22.00 to $24.00 in a research note published on Monday morning,Benzinga reports. They currently have an in-line rating on the specialty retailer’s stock.

Several other analysts have also recently commented on JWN. Telsey Advisory Group restated a “market perform” rating and issued a $24.00 target price on shares of Nordstrom in a research report on Monday. UBS Group raised Nordstrom from a “sell” rating to a “neutral” rating and raised their price target for the company from $14.50 to $24.00 in a report on Friday. Citigroup upped their price objective on shares of Nordstrom from $22.00 to $23.00 and gave the stock a “neutral” rating in a report on Tuesday, November 19th. KeyCorp cut shares of Nordstrom from an “overweight” rating to a “sector weight” rating in a research note on Thursday, September 26th. Finally, Bank of America upped their price target on shares of Nordstrom from $20.00 to $22.00 and gave the stock an “underperform” rating in a research note on Wednesday, November 27th. Three analysts have rated the stock with a sell rating, eleven have issued a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $22.08.

Nordstrom Stock Performance

JWN stock opened at $24.16 on Monday. Nordstrom has a 1 year low of $16.78 and a 1 year high of $24.99. The stock has a market capitalization of $3.99 billion, a price-to-earnings ratio of 15.39 and a beta of 2.52. The company has a debt-to-equity ratio of 2.65, a quick ratio of 0.35 and a current ratio of 1.14. The stock’s fifty day moving average is $23.43 and its two-hundred day moving average is $22.74.

Nordstrom (NYSE:JWN) last issued its quarterly earnings data on Tuesday, November 26th. The specialty retailer reported $0.33 earnings per share for the quarter, beating the consensus estimate of $0.22 by $0.11. Nordstrom had a negative net margin of 1.57% and a negative return on equity of 18.04%. The firm had revenue of $3.35 billion for the quarter, compared to the consensus estimate of $3.34 billion. During the same period last year, the firm posted $0.25 EPS. Nordstrom’s quarterly revenue was up 4.6% compared to the same quarter last year. On average, research analysts predict that Nordstrom will post 1.94 EPS for the current year.

Nordstrom Dividend Announcement

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

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in JWN. Venturi Wealth Management LLC lifted its position in shares of Nordstrom by 355.9% in the 3rd quarter. Venturi Wealth Management LLC now owns 1,272 shares of the specialty retailer’s stock valued at $29,000 after acquiring an additional 993 shares in the last quarter. Point72 Hong Kong Ltd acquired a new stake in shares of Nordstrom in the second quarter worth $71,000. CWM LLC grew its holdings in shares of Nordstrom by 28.7% during the third quarter. CWM LLC now owns 3,628 shares of the specialty retailer’s stock valued at $82,000 after buying an additional 810 shares in the last quarter. Blue Trust Inc. grew its holdings in shares of Nordstrom by 57.7% during the third quarter. Blue Trust Inc. now owns 3,839 shares of the specialty retailer’s stock valued at $81,000 after buying an additional 1,404 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale raised its position in Nordstrom by 70.5% during the second quarter. DekaBank Deutsche Girozentrale now owns 5,387 shares of the specialty retailer’s stock valued at $112,000 after buying an additional 2,227 shares during the period. 88.73% of the stock is 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.