The Goldman Sachs Group Raises Nordstrom (NYSE:JWN) Price Target to $21.00

Nordstrom (NYSE:JWN) had its price objective increased by The Goldman Sachs Group from $19.00 to $21.00 in a report issued on Wednesday, Benzinga reports. They currently have a neutral rating on the specialty retailer’s stock.

A number of other research analysts also recently weighed in on the company. BMO Capital Markets raised their price objective on Nordstrom from $20.00 to $22.00 and gave the company a market perform rating in a research note on Wednesday. JPMorgan Chase & Co. lifted their price target on shares of Nordstrom from $15.00 to $17.00 and gave the company an underweight rating in a research report on Friday, May 17th. Barclays upped their price objective on shares of Nordstrom from $15.00 to $18.00 and gave the stock an underweight rating in a report on Friday, May 31st. StockNews.com upgraded shares of Nordstrom from a hold rating to a buy rating in a report on Thursday, August 8th. Finally, Evercore ISI boosted their target price on shares of Nordstrom from $17.00 to $19.00 and gave the stock an in-line rating in a research report on Friday, May 31st. Four analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, Nordstrom presently has a consensus rating of Hold and a consensus target price of $19.85.

Nordstrom Price Performance

NYSE JWN opened at $22.34 on Wednesday. The company has a quick ratio of 0.36, a current ratio of 1.03 and a debt-to-equity ratio of 3.13. The stock has a market capitalization of $3.66 billion, a PE ratio of 12.21, a price-to-earnings-growth ratio of 2.55 and a beta of 2.62. Nordstrom has a 12-month low of $12.88 and a 12-month high of $24.03. The company has a 50 day moving average price of $21.95 and a two-hundred day moving average price of $20.70.

Nordstrom (NYSE:JWN) last released its quarterly earnings data on Tuesday, August 27th. The specialty retailer reported $0.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.71 by $0.25. The business had revenue of $3.89 billion during the quarter, compared to analyst estimates of $3.88 billion. Nordstrom had a negative net margin of 1.35% and a negative return on equity of 26.45%. Nordstrom’s quarterly revenue was up 3.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.84 EPS. As a group, equities analysts predict that Nordstrom will post 1.79 earnings per share for the current fiscal year.

Nordstrom Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 18th. Shareholders of record on Tuesday, September 3rd will be given a $0.19 dividend. The ex-dividend date is Tuesday, September 3rd. This represents a $0.76 dividend on an annualized basis and a dividend yield of 3.40%. Nordstrom’s dividend payout ratio is currently 41.53%.

Institutional Trading of Nordstrom

A number of institutional investors and hedge funds have recently modified their holdings of the company. Norges Bank bought a new position in Nordstrom in the fourth quarter worth $23,572,000. Capstone Investment Advisors LLC raised its stake in shares of Nordstrom by 185.0% in the 1st quarter. Capstone Investment Advisors LLC now owns 211,471 shares of the specialty retailer’s stock valued at $4,287,000 after buying an additional 137,271 shares in the last quarter. Boulder Hill Capital Management LP acquired a new position in shares of Nordstrom in the 4th quarter valued at $2,065,000. Jump Financial LLC lifted its holdings in shares of Nordstrom by 83.9% during the 4th quarter. Jump Financial LLC now owns 150,200 shares of the specialty retailer’s stock worth $2,771,000 after acquiring an additional 68,529 shares during the period. Finally, Nomura Holdings Inc. boosted its position in shares of Nordstrom by 152.2% during the 4th quarter. Nomura Holdings Inc. now owns 169,604 shares of the specialty retailer’s stock valued at $3,129,000 after acquiring an additional 102,361 shares in the last quarter. 88.73% of the stock is currently owned by institutional investors.

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.