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

StockNews.com started coverage on shares of Nordstrom (NYSE:JWN) in a research note issued to investors on Sunday. The brokerage issued a buy rating on the specialty retailer’s stock.

JWN has been the topic of several other research reports. Citigroup boosted their price target on shares of Nordstrom from $22.00 to $23.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 19th. Barclays boosted their target price on Nordstrom from $23.00 to $24.00 and gave the stock an “equal weight” rating in a research report on Thursday, January 16th. Bank of America raised their price target on Nordstrom from $20.00 to $22.00 and gave the company an “underperform” rating in a report on Wednesday, November 27th. Argus cut Nordstrom from a “buy” rating to a “sell” rating in a report on Monday, December 30th. Finally, UBS Group raised shares of Nordstrom from a “sell” rating to a “neutral” rating and raised their target price for the company from $14.50 to $24.00 in a report on Friday, January 10th. Three equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $22.17.

Nordstrom Price Performance

Shares of Nordstrom stock opened at $24.18 on Friday. The company has a quick ratio of 0.35, a current ratio of 1.14 and a debt-to-equity ratio of 2.65. Nordstrom has a 52 week low of $16.78 and a 52 week high of $24.99. The stock’s 50-day simple moving average is $23.67 and its 200-day simple moving average is $22.90. The company has a market capitalization of $3.99 billion, a price-to-earnings ratio of 15.40 and a beta of 2.52.

Nordstrom (NYSE:JWN) last posted its quarterly earnings results on Tuesday, November 26th. The specialty retailer reported $0.33 earnings per share for the quarter, topping the consensus estimate 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 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% compared to the same quarter last year. During the same period in the prior year, the company posted $0.25 EPS. As a group, analysts expect that Nordstrom will post 1.97 earnings per share for the current fiscal year.

Nordstrom Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 18th. Investors of record on Tuesday, December 3rd were given a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 3.14%. The ex-dividend date was Tuesday, December 3rd. Nordstrom’s dividend payout ratio (DPR) is currently 48.41%.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Hennessy Advisors Inc. bought a new stake in shares of Nordstrom during the 4th quarter worth approximately $56,026,000. Verition Fund Management LLC lifted its position in shares of Nordstrom by 147.4% during the third quarter. Verition Fund Management LLC now owns 1,218,365 shares of the specialty retailer’s stock worth $27,401,000 after purchasing an additional 725,803 shares during the last quarter. Axiom Advisory LLC boosted its stake in shares of 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 during the period. Cyndeo Wealth Partners LLC bought a new position in shares of Nordstrom in the third quarter worth about $6,248,000. Finally, Hotchkis & Wiley Capital Management LLC purchased a new position in Nordstrom in the 3rd quarter worth about $6,171,000. Hedge funds and other 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.