Nordstrom, Inc. (NYSE:JWN) to Issue Quarterly Dividend of $0.19

Nordstrom, Inc. (NYSE:JWN) announced a quarterly dividend on Wednesday, November 20th,RTT News reports. Stockholders of record on Tuesday, December 3rd will be given a dividend of 0.19 per share by the specialty retailer on Wednesday, December 18th. This represents a $0.76 annualized dividend and a dividend yield of 3.42%.

Nordstrom has raised its dividend payment by an average of 27.1% annually over the last three years. Nordstrom has a payout ratio of 38.4% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Nordstrom to earn $1.95 per share next year, which means the company should continue to be able to cover its $0.76 annual dividend with an expected future payout ratio of 39.0%.

Nordstrom Trading Down 1.9 %

NYSE JWN traded down $0.42 during trading hours on Wednesday, hitting $22.25. 1,693,204 shares of the company’s stock were exchanged, compared to its average volume of 3,041,260. The business’s 50 day moving average is $22.75 and its 200-day moving average is $22.11. The firm has a market capitalization of $3.65 billion, a P/E ratio of 13.25 and a beta of 2.59. The company has a debt-to-equity ratio of 2.76, a quick ratio of 0.41 and a current ratio of 1.07. Nordstrom has a 12-month low of $13.68 and a 12-month high of $24.93.

Nordstrom (NYSE:JWN) last announced its quarterly earnings results on Tuesday, August 27th. The specialty retailer reported $0.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.71 by $0.25. Nordstrom had a negative return on equity of 21.26% and a negative net margin of 1.44%. The business 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 business posted $0.84 EPS. The business’s revenue was up 3.2% on a year-over-year basis. As a group, analysts anticipate that Nordstrom will post 1.91 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages recently issued reports on JWN. The Goldman Sachs Group boosted their price target on Nordstrom from $19.00 to $21.00 and gave the company a “neutral” rating in a research note on Wednesday, August 28th. StockNews.com raised Nordstrom from a “hold” rating to a “buy” rating in a report on Thursday, August 8th. JPMorgan Chase & Co. increased their price target on Nordstrom from $19.00 to $20.00 and gave the company an “underweight” rating in a research note on Wednesday, August 28th. Bank of America increased their price target on Nordstrom from $18.00 to $20.00 and gave the company an “underperform” rating in a research note on Wednesday, August 28th. Finally, Barclays raised Nordstrom from an “underweight” rating to an “equal weight” rating and increased their price target for the company from $18.00 to $23.00 in a research note on Thursday, September 5th. Three equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, Nordstrom currently has an average rating of “Hold” and an average target price of $20.58.

Insider Transactions at Nordstrom

In other news, COO Alexis Depree sold 20,000 shares of the firm’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 transaction of $464,000.00. Following the completion of the sale, the chief operating officer now owns 169,331 shares in the company, valued at $3,928,479.20. This trade represents a 10.56 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 5.78% of the company’s stock.

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.