Nordstrom, Inc. (NYSE:JWN) Given Average Recommendation of “Reduce” by Brokerages

Nordstrom, Inc. (NYSE:JWN) has received an average rating of “Reduce” from the fourteen ratings firms that are presently covering the company, MarketBeat reports. Three equities research analysts have rated the stock with a sell rating and eleven have assigned a hold rating to the company. The average twelve-month price target among brokers that have covered the stock in the last year is $22.17.

A number of analysts have recently issued reports on JWN shares. Citigroup raised their price objective on Nordstrom from $22.00 to $23.00 and gave the company a “neutral” rating in a research report on Tuesday, November 19th. Telsey Advisory Group reaffirmed a “market perform” rating and set a $24.00 price objective on shares of Nordstrom in a research report on Monday, January 13th. StockNews.com initiated coverage on shares of Nordstrom in a research report on Sunday. They issued a “buy” rating on the stock. Bank of America lifted their target price on shares of Nordstrom from $20.00 to $22.00 and gave the stock an “underperform” rating in a report on Wednesday, November 27th. Finally, Argus downgraded shares of Nordstrom from a “buy” rating to a “sell” rating in a research report on Monday, December 30th.

Hedge Funds Weigh In On Nordstrom

Several hedge funds have recently bought and sold shares of JWN. Venturi Wealth Management LLC lifted its holdings in shares of 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 acquiring an additional 993 shares during the period. Spire Wealth Management boosted its holdings in shares of Nordstrom by 90.9% in the 4th quarter. Spire Wealth Management now owns 2,100 shares of the specialty retailer’s stock valued at $51,000 after purchasing an additional 1,000 shares in the last quarter. Blue Trust Inc. increased its stake in shares of 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 purchasing an additional 1,404 shares during the last quarter. CWM LLC raised its stake in Nordstrom by 28.7% during the third quarter. CWM LLC now owns 3,628 shares of the specialty retailer’s stock worth $82,000 after acquiring an additional 810 shares in the last quarter. Finally, KBC Group NV lifted its holdings in shares of Nordstrom by 36.5% in the fourth quarter. KBC Group NV now owns 4,816 shares of the specialty retailer’s stock worth $116,000 after acquiring an additional 1,287 shares during the last quarter. 88.73% of the stock is owned by institutional investors.

Nordstrom Price Performance

Shares of JWN opened at $24.22 on Thursday. 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’s fifty day simple moving average is $23.74 and its 200 day simple moving average is $22.92. Nordstrom has a 1-year low of $16.78 and a 1-year high of $24.99. The company has a market cap of $4.00 billion, a price-to-earnings ratio of 15.42 and a beta of 2.52.

Nordstrom (NYSE:JWN) last released its quarterly earnings data 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. Nordstrom had a negative net margin of 1.57% and a negative return on equity of 18.04%. The company had revenue of $3.35 billion for the quarter, compared to analyst estimates of $3.34 billion. During the same period in the previous year, the business earned $0.25 EPS. Nordstrom’s revenue for the quarter was up 4.6% compared to the same quarter last year. On average, research analysts forecast that Nordstrom will post 1.97 earnings per share for the current fiscal year.

Nordstrom Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 18th. Investors of record on Tuesday, December 3rd were paid 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 presently 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.