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

Shares of Nordstrom, Inc. (NYSE:JWN) have been given a consensus recommendation of “Reduce” by the thirteen research firms that are covering the company, MarketBeat reports. Three investment analysts have rated the stock with a sell rating and ten have given a hold rating to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $20.23.

A number of research firms have commented on JWN. JPMorgan Chase & Co. raised their target price on shares of Nordstrom from $19.00 to $20.00 and gave the stock an “underweight” rating in a research note on Wednesday, August 28th. BMO Capital Markets raised their target price on shares of Nordstrom from $20.00 to $22.00 and gave the stock a “market perform” rating in a research note on Wednesday, August 28th. Telsey Advisory Group raised their target price on shares of Nordstrom from $23.00 to $24.00 and gave the stock a “market perform” rating in a research note on Wednesday, August 28th. KeyCorp cut shares of Nordstrom from an “overweight” rating to a “sector weight” rating in a research note on Thursday, September 26th. Finally, TD Cowen raised their target price on shares of Nordstrom from $24.00 to $25.00 and gave the stock a “hold” rating in a research note on Wednesday, August 28th.

Insider Buying and Selling

In other Nordstrom news, COO Alexis Depree sold 20,000 shares of the business’s stock in a transaction on Tuesday, September 24th. The shares were sold at an average price of $23.20, for a total transaction of $464,000.00. Following the transaction, the chief operating officer now owns 169,331 shares in the company, valued at $3,928,479.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 5.78% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. CANADA LIFE ASSURANCE Co grew its holdings in shares of Nordstrom by 0.6% in the first quarter. CANADA LIFE ASSURANCE Co now owns 90,144 shares of the specialty retailer’s stock worth $1,828,000 after purchasing an additional 520 shares during the last quarter. State of Michigan Retirement System grew its holdings in shares of Nordstrom by 2.6% in the first quarter. State of Michigan Retirement System now owns 23,908 shares of the specialty retailer’s stock worth $485,000 after purchasing an additional 600 shares during the last quarter. Personal CFO Solutions LLC grew its holdings in shares of Nordstrom by 5.7% in the fourth quarter. Personal CFO Solutions LLC now owns 11,882 shares of the specialty retailer’s stock worth $219,000 after purchasing an additional 636 shares during the last quarter. Hexagon Capital Partners LLC grew its holdings in shares of Nordstrom by 33.1% in the first quarter. Hexagon Capital Partners LLC now owns 2,648 shares of the specialty retailer’s stock worth $54,000 after purchasing an additional 659 shares during the last quarter. Finally, Atlas Capital Advisors LLC grew its holdings in Nordstrom by 101.8% during the 2nd quarter. Atlas Capital Advisors LLC now owns 1,491 shares of the specialty retailer’s stock worth $32,000 after acquiring an additional 752 shares in the last quarter. 88.73% of the stock is currently owned by institutional investors.

Nordstrom Stock Performance

JWN opened at $21.47 on Friday. The company has a current ratio of 1.07, a quick ratio of 0.41 and a debt-to-equity ratio of 2.76. The company has a market cap of $3.51 billion, a price-to-earnings ratio of 11.73 and a beta of 2.60. The company’s 50 day moving average is $22.16 and its 200 day moving average is $21.20. Nordstrom has a 12-month low of $12.88 and a 12-month high of $24.03.

Nordstrom (NYSE:JWN) last posted its quarterly earnings data on Tuesday, August 27th. The specialty retailer reported $0.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.71 by $0.25. Nordstrom had a negative net margin of 1.44% and a negative return on equity of 21.26%. The company had revenue of $3.89 billion for the quarter, compared to the consensus estimate of $3.88 billion. During the same quarter last year, the firm posted $0.84 earnings per share. The firm’s revenue was up 3.2% compared to the same quarter last year. On average, equities research analysts predict that Nordstrom will post 1.9 EPS for the current year.

Nordstrom Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 18th. Investors of record on Tuesday, September 3rd were given a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 3.54%. The ex-dividend date was Tuesday, September 3rd. Nordstrom’s dividend payout ratio is presently 41.53%.

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.