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

Shares of Nordstrom, Inc. (NYSE:JWN) have been given a consensus recommendation of “Reduce” by the thirteen analysts that are currently covering the firm, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a sell recommendation and ten have assigned a hold recommendation to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $20.33.

JWN has been the topic of a number of recent research reports. Bank of America increased their price objective on Nordstrom from $18.00 to $20.00 and gave the stock an “underperform” rating in a report on Wednesday, August 28th. StockNews.com raised shares of Nordstrom from a “hold” rating to a “buy” rating in a report on Thursday, August 8th. JPMorgan Chase & Co. boosted their price objective on shares of Nordstrom from $19.00 to $20.00 and gave the company an “underweight” rating in a research note on Wednesday, August 28th. Barclays upgraded shares of Nordstrom from an “underweight” rating to an “equal weight” rating and increased their target price for the stock from $18.00 to $23.00 in a research note on Thursday, September 5th. Finally, BMO Capital Markets boosted their price target on shares of Nordstrom from $20.00 to $22.00 and gave the company a “market perform” rating in a research report on Wednesday, August 28th.

Nordstrom Stock Performance

NYSE JWN opened at $23.22 on Tuesday. The firm has a market cap of $3.81 billion, a P/E ratio of 13.58 and a beta of 2.60. The company has a quick ratio of 0.41, a current ratio of 1.07 and a debt-to-equity ratio of 2.76. The company’s 50 day moving average is $22.51 and its 200-day moving average is $21.67. Nordstrom has a 12-month low of $12.88 and a 12-month high of $24.93.

Nordstrom (NYSE:JWN) last issued its earnings results on Tuesday, August 27th. The specialty retailer reported $0.96 earnings per share (EPS) for the quarter, beating 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 business had revenue of $3.89 billion for the quarter, compared to analysts’ expectations of $3.88 billion. During the same quarter in the previous year, the firm posted $0.84 EPS. The business’s revenue for the quarter was up 3.2% compared to the same quarter last year. Sell-side analysts predict that Nordstrom will post 1.89 earnings per share for the current year.

Nordstrom Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 18th. Investors of record on Tuesday, September 3rd were given a $0.19 dividend. The ex-dividend date was Tuesday, September 3rd. This represents a $0.76 dividend on an annualized basis and a yield of 3.27%. Nordstrom’s payout ratio is 44.44%.

Insider Buying and Selling at Nordstrom

In other news, COO Alexis Depree sold 20,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 24th. The shares were sold at an average price of $23.20, for a total value of $464,000.00. Following the completion of the sale, the chief operating officer now directly owns 169,331 shares in the company, valued at approximately $3,928,479.20. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 5.78% of the company’s stock.

Hedge Funds Weigh In On Nordstrom

A number of large investors have recently added to or reduced their stakes in the business. Register Financial Advisors LLC purchased a new stake in Nordstrom during the first quarter valued at about $30,000. Atlas Capital Advisors LLC lifted its stake in shares of Nordstrom by 101.8% in the 2nd quarter. Atlas Capital Advisors LLC now owns 1,491 shares of the specialty retailer’s stock valued at $32,000 after acquiring an additional 752 shares during the last quarter. Rothschild Investment LLC purchased a new stake in Nordstrom during the 2nd quarter valued at about $39,000. Blue Trust Inc. grew its position in Nordstrom by 10,045.8% during the 2nd quarter. Blue Trust Inc. now owns 2,435 shares of the specialty retailer’s stock worth $49,000 after acquiring an additional 2,411 shares during the last quarter. Finally, Hexagon Capital Partners LLC increased its stake in Nordstrom by 33.1% in the 1st 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 period. 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.