Nordstrom (NYSE:JWN) Coverage Initiated at StockNews.com

StockNews.com began coverage on shares of Nordstrom (NYSE:JWN) in a research note released on Friday. The brokerage issued a buy rating on the specialty retailer’s stock.

A number of other analysts have also commented on the company. Bank of America lifted their price target on Nordstrom from $20.00 to $22.00 and gave the stock an “underperform” rating in a report on Wednesday, November 27th. UBS Group lifted their target price on Nordstrom from $13.00 to $14.50 and gave the stock a “sell” rating in a research note on Wednesday, November 27th. Argus lowered shares of Nordstrom from a “buy” rating to a “sell” rating in a research report on Monday, December 30th. Telsey Advisory Group decreased their price objective on shares of Nordstrom from $26.00 to $24.00 and set a “market perform” rating for the company in a report on Tuesday, December 24th. Finally, KeyCorp cut shares of Nordstrom from an “overweight” rating to a “sector weight” rating in a research note on Thursday, September 26th. Three analysts have rated the stock with a sell rating, eleven have given a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, Nordstrom presently has a consensus rating of “Hold” and an average target price of $21.92.

Nordstrom Stock Performance

NYSE JWN opened at $24.03 on Friday. The company has a fifty day moving average price of $23.41 and a 200-day moving average price of $22.72. The firm has a market cap of $3.97 billion, a price-to-earnings ratio of 15.31 and a beta of 2.52. The company has a debt-to-equity ratio of 2.65, a current ratio of 1.14 and a quick ratio of 0.35. Nordstrom has a 1 year low of $16.78 and a 1 year high of $24.99.

Nordstrom (NYSE:JWN) last issued its quarterly earnings data on Tuesday, November 26th. The specialty retailer reported $0.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.22 by $0.11. Nordstrom had a negative net margin of 1.57% and a negative return on equity of 18.04%. The business had revenue of $3.35 billion during the quarter, compared to the consensus estimate of $3.34 billion. During the same period in the prior year, the firm posted $0.25 EPS. The firm’s quarterly revenue was up 4.6% compared to the same quarter last year. As a group, equities research analysts predict that Nordstrom will post 1.94 EPS for the current fiscal year.

Nordstrom Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 18th. Stockholders of record on Tuesday, December 3rd were given a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 3.16%. The ex-dividend date of this dividend was Tuesday, December 3rd. Nordstrom’s dividend payout ratio (DPR) is presently 48.41%.

Hedge Funds Weigh In On Nordstrom

Large investors have recently modified their holdings of the company. Quantinno Capital Management LP boosted its position in shares of Nordstrom by 49.3% during the 3rd quarter. Quantinno Capital Management LP now owns 145,146 shares of the specialty retailer’s stock valued at $3,264,000 after acquiring an additional 47,923 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in Nordstrom by 17.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,422,856 shares of the specialty retailer’s stock valued at $32,000,000 after purchasing an additional 208,193 shares during the last quarter. Point72 Asset Management L.P. grew its stake in Nordstrom by 190.1% in the 3rd quarter. Point72 Asset Management L.P. now owns 59,678 shares of the specialty retailer’s stock worth $1,342,000 after buying an additional 39,104 shares in the last quarter. Sanctuary Advisors LLC increased its holdings in shares of Nordstrom by 160.9% in the 3rd quarter. Sanctuary Advisors LLC now owns 51,071 shares of the specialty retailer’s stock worth $1,187,000 after buying an additional 31,498 shares during the last quarter. Finally, Cyndeo Wealth Partners LLC purchased a new stake in shares of Nordstrom during the 3rd quarter valued at $6,248,000. 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.