Nordstrom (NYSE:JWN) Reaches New 12-Month High – Still a Buy?

Shares of Nordstrom, Inc. (NYSE:JWN) hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $24.99 and last traded at $24.90, with a volume of 5057686 shares trading hands. The stock had previously closed at $23.24.

Wall Street Analyst Weigh In

Several research analysts recently commented on JWN shares. Telsey Advisory Group reissued a “market perform” rating and set a $24.00 price target on shares of Nordstrom in a research report on Wednesday, November 20th. The Goldman Sachs Group raised their target price on shares of Nordstrom from $19.00 to $21.00 and gave the company a “neutral” rating in a research note on Wednesday, August 28th. Bank of America increased their price target on shares of Nordstrom from $18.00 to $20.00 and gave the company an “underperform” rating in a research note on Wednesday, August 28th. Barclays upgraded shares of Nordstrom from an “underweight” rating to an “equal weight” rating and boosted their price objective for the stock from $18.00 to $23.00 in a research note on Thursday, September 5th. Finally, StockNews.com upgraded Nordstrom from a “hold” rating to a “buy” rating in a report on Thursday, August 8th. Three investment analysts have rated the stock with a sell rating, ten have issued a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $20.58.

Nordstrom Stock Up 7.3 %

The firm’s 50 day simple moving average is $22.77 and its two-hundred day simple moving average is $22.16. The firm has a market cap of $4.09 billion, a price-to-earnings ratio of 13.59 and a beta of 2.59. The company has a current ratio of 1.07, a quick ratio of 0.41 and a debt-to-equity ratio of 2.76.

Nordstrom (NYSE:JWN) last issued its quarterly earnings results on Tuesday, August 27th. The specialty retailer reported $0.96 EPS for the quarter, topping analysts’ consensus estimates 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 company had revenue of $3.89 billion for the quarter, compared to analysts’ expectations of $3.88 billion. During the same quarter last year, the business earned $0.84 earnings per share. Nordstrom’s revenue was up 3.2% on a year-over-year basis. On average, equities analysts forecast that Nordstrom, Inc. will post 1.91 EPS for the current year.

Nordstrom Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Tuesday, December 3rd will be paid a $0.19 dividend. The ex-dividend date of this dividend is Tuesday, December 3rd. This represents a $0.76 dividend on an annualized basis and a yield of 3.05%. Nordstrom’s dividend payout ratio (DPR) is 44.44%.

Insider Buying and Selling

In other news, COO Alexis Depree sold 20,000 shares of Nordstrom stock in a transaction dated Tuesday, September 24th. The stock was sold at an average price of $23.20, for a total transaction of $464,000.00. Following the sale, the chief operating officer now directly owns 169,331 shares of the company’s stock, valued at approximately $3,928,479.20. This trade represents a 10.56 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 5.78% of the stock is owned by corporate insiders.

Institutional Trading of Nordstrom

Institutional investors have recently modified their holdings of the business. Venturi Wealth Management LLC lifted its stake in shares of Nordstrom by 355.9% in the third quarter. Venturi Wealth Management LLC now owns 1,272 shares of the specialty retailer’s stock valued at $29,000 after buying an additional 993 shares in the last quarter. Atlas Capital Advisors LLC lifted its position in Nordstrom by 101.8% in the second quarter. Atlas Capital Advisors LLC now owns 1,491 shares of the specialty retailer’s stock valued at $32,000 after purchasing an additional 752 shares during the last quarter. Rothschild Investment LLC purchased a new position in shares of Nordstrom during the second quarter valued at approximately $39,000. Blue Trust Inc. raised its position in shares of Nordstrom by 10,045.8% in 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 in the last quarter. Finally, Point72 Hong Kong Ltd purchased a new position in Nordstrom during the second quarter valued at $71,000. 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.