Nordstrom, Inc. (NYSE:JWN) Given Average Rating of "Reduce" by Brokerages

Nordstrom, Inc. (NYSE:JWN - Get Free Report) has earned an average rating of "Reduce" from the fourteen research firms that are covering the stock, MarketBeat reports. Three research analysts have rated the stock with a sell rating and eleven have given a hold rating to the company. The average 1-year price target among analysts that have covered the stock in the last year is $22.17.

A number of equities analysts recently issued reports on the company. UBS Group upgraded Nordstrom from a "sell" rating to a "neutral" rating and lifted their target price for the stock from $14.50 to $24.00 in a report on Friday, January 10th. Telsey Advisory Group reissued a "market perform" rating and set a $24.00 target price on shares of Nordstrom in a research report on Monday, January 13th. Bank of America increased their target price on shares of Nordstrom from $20.00 to $22.00 and gave the company an "underperform" rating in a research note on Wednesday, November 27th. StockNews.com initiated coverage on shares of Nordstrom in a report on Sunday. They issued a "buy" rating on the stock. Finally, Argus lowered Nordstrom from a "buy" rating to a "sell" rating in a research note on Monday, December 30th.

Hedge Funds Weigh In On Nordstrom

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Rhumbline Advisers boosted its stake in shares of Nordstrom by 0.5% during the 4th quarter. Rhumbline Advisers now owns 271,048 shares of the specialty retailer's stock worth $6,546,000 after buying an additional 1,231 shares during the last quarter. New York State Teachers Retirement System raised its holdings in Nordstrom by 7.0% in the 4th quarter. New York State Teachers Retirement System now owns 119,575 shares of the specialty retailer's stock valued at $2,888,000 after acquiring an additional 7,838 shares in the last quarter. Empowered Funds LLC bought a new position in Nordstrom in the fourth quarter valued at approximately $378,000. Measured Wealth Private Client Group LLC bought a new stake in shares of Nordstrom during the 4th quarter valued at approximately $482,000. Finally, State of Alaska Department of Revenue raised its position in Nordstrom by 603.5% in the fourth quarter. State of Alaska Department of Revenue now owns 79,046 shares of the specialty retailer's stock valued at $1,908,000 after purchasing an additional 67,810 shares during the last quarter. 88.73% of the stock is owned by institutional investors.

Nordstrom Price Performance

Shares of NYSE JWN traded up $0.04 during trading on Thursday, reaching $24.26. The company had a trading volume of 1,304,151 shares, compared to its average volume of 2,855,650. Nordstrom has a twelve month low of $16.78 and a twelve month high of $24.99. The stock has a 50-day moving average price of $23.78 and a two-hundred day moving average price of $22.92. 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 stock has a market capitalization of $4.00 billion, a PE ratio of 15.45 and a beta of 2.52.

Nordstrom (NYSE:JWN - Get Free Report) last released its quarterly earnings results on Tuesday, November 26th. The specialty retailer reported $0.33 earnings per share 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 quarter last year, the company earned $0.25 earnings per share. The business's quarterly revenue was up 4.6% compared to the same quarter last year. As a group, sell-side analysts predict that Nordstrom will post 1.97 earnings per share for the current year.

Nordstrom Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 18th. Investors of record on Tuesday, December 3rd were issued a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 3.13%. The ex-dividend date 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.