Nordstrom, Inc. (NYSE:JWN) Receives Average Rating of "Reduce" from Brokerages

Shares of Nordstrom, Inc. (NYSE:JWN - Get Free Report) have been assigned a consensus recommendation of "Reduce" from the fourteen research firms that are presently covering the company, Marketbeat Ratings reports. Four research analysts have rated the stock with a sell rating and ten have assigned a hold rating to the company. The average 12 month target price among analysts that have covered the stock in the last year is $21.13.

A number of research firms have issued reports on JWN. StockNews.com initiated coverage on Nordstrom in a report on Thursday. They issued a "buy" rating for the company. Argus cut shares of Nordstrom from a "buy" rating to a "sell" rating in a research report on Monday, December 30th. Bank of America boosted their price objective on shares of Nordstrom from $20.00 to $22.00 and gave the stock an "underperform" rating in a research note on Wednesday, November 27th. UBS Group raised their target price on shares of Nordstrom from $13.00 to $14.50 and gave the company a "sell" rating in a research note on Wednesday, November 27th. Finally, KeyCorp cut Nordstrom from an "overweight" rating to a "sector weight" rating in a research report on Thursday, September 26th.

Institutional Trading of Nordstrom

Large investors have recently made changes to their positions in the stock. Quantinno Capital Management LP boosted its holdings in Nordstrom by 49.3% in the third quarter. Quantinno Capital Management LP now owns 145,146 shares of the specialty retailer's stock worth $3,264,000 after purchasing an additional 47,923 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Nordstrom by 17.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,422,856 shares of the specialty retailer's stock valued at $32,000,000 after buying an additional 208,193 shares during the period. Point72 Asset Management L.P. boosted its stake in shares of 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 during the last quarter. Sanctuary Advisors LLC grew its holdings in shares of Nordstrom by 160.9% in the third quarter. Sanctuary Advisors LLC now owns 51,071 shares of the specialty retailer's stock worth $1,187,000 after acquiring an additional 31,498 shares during the period. Finally, Cyndeo Wealth Partners LLC purchased a new stake in Nordstrom during the third quarter valued at $6,248,000. 88.73% of the stock is currently owned by institutional investors.

Nordstrom Trading Up 0.1 %

NYSE JWN traded up $0.02 during trading on Friday, hitting $24.17. The company had a trading volume of 4,662,905 shares, compared to its average volume of 4,469,553. Nordstrom has a one year low of $16.63 and a one year high of $24.99. The company has a current ratio of 1.14, a quick ratio of 0.35 and a debt-to-equity ratio of 2.65. The company's fifty day moving average is $23.30 and its 200-day moving average is $22.61. The company has a market cap of $3.99 billion, a price-to-earnings ratio of 15.40 and a beta of 2.56.

Nordstrom (NYSE:JWN - Get Free Report) last posted its quarterly earnings data on Tuesday, November 26th. The specialty retailer reported $0.33 earnings per share for the quarter, beating the consensus estimate of $0.22 by $0.11. Nordstrom had a negative return on equity of 18.04% and a negative net margin of 1.57%. The business had revenue of $3.35 billion for the quarter, compared to analysts' expectations of $3.34 billion. During the same period in the previous year, the firm posted $0.25 EPS. The business's revenue was up 4.6% on a year-over-year basis. On average, sell-side analysts predict that Nordstrom will post 1.94 earnings per share for the current year.

Nordstrom Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, December 18th. Shareholders of record on Tuesday, December 3rd were paid a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 3.14%. The ex-dividend date of this dividend was Tuesday, December 3rd. Nordstrom's dividend payout ratio is currently 48.41%.

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.