StockNews.com Begins Coverage on Nordstrom (NYSE:JWN)

StockNews.com began coverage on shares of Nordstrom (NYSE:JWN) in a research report report published on Thursday. The firm issued a buy rating on the specialty retailer’s stock.

Several other equities research analysts have also commented on the stock. Telsey Advisory Group reiterated a “market perform” rating and set a $24.00 price target on shares of Nordstrom in a research note on Tuesday, February 25th. Citigroup lifted their target price on Nordstrom from $22.00 to $23.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 19th. Argus downgraded Nordstrom from a “buy” rating to a “sell” rating in a research note on Monday, December 30th. Bank of America lifted their price target on Nordstrom from $20.00 to $22.00 and gave the stock an “underperform” rating in a research report on Wednesday, November 27th. Finally, Evercore ISI increased their price objective on Nordstrom from $22.00 to $24.00 and gave the company an “in-line” rating in a report on Monday, January 13th. Three research analysts have rated the stock with a sell rating, eleven have issued a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $22.17.

Nordstrom Stock Performance

Shares of Nordstrom stock opened at $24.29 on Thursday. 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 firm’s 50 day moving average is $24.22 and its two-hundred day moving average is $23.26. The firm has a market capitalization of $4.01 billion, a P/E ratio of 15.47 and a beta of 2.51.

Nordstrom Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 26th. Shareholders of record on Tuesday, March 11th will be paid a $0.19 dividend. The ex-dividend date is Tuesday, March 11th. This represents a $0.76 annualized dividend and a yield of 3.13%. Nordstrom’s dividend payout ratio is currently 48.41%.

Institutional Trading of Nordstrom

Hedge funds have recently made changes to their positions in the company. Creative Planning raised its holdings in Nordstrom by 22.9% during the third quarter. Creative Planning now owns 12,025 shares of the specialty retailer’s stock worth $270,000 after purchasing an additional 2,238 shares in the last quarter. Blue Trust Inc. increased its position in Nordstrom by 57.7% during the 3rd quarter. Blue Trust Inc. now owns 3,839 shares of the specialty retailer’s stock worth $81,000 after purchasing an additional 1,404 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Nordstrom by 42.2% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 8,250 shares of the specialty retailer’s stock worth $183,000 after buying an additional 2,450 shares in the last quarter. State of Alaska Department of Revenue lifted its holdings in shares of Nordstrom by 7.3% in the 3rd quarter. State of Alaska Department of Revenue now owns 11,236 shares of the specialty retailer’s stock valued at $252,000 after buying an additional 760 shares during the period. Finally, Nisa Investment Advisors LLC boosted its stake in shares of Nordstrom by 6.3% in the third quarter. Nisa Investment Advisors LLC now owns 30,370 shares of the specialty retailer’s stock valued at $683,000 after buying an additional 1,800 shares in the last quarter. Institutional investors and hedge funds 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.