Nordstrom, Inc. (NYSE:JWN) Receives Consensus Recommendation of "Reduce" from Brokerages

Shares of Nordstrom, Inc. (NYSE:JWN - Get Free Report) have been given an average rating of "Reduce" by the thirteen ratings firms that are currently covering the firm, MarketBeat.com reports. Three research analysts have rated the stock with a sell rating and ten have issued a hold rating on the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $21.29.

JWN has been the subject of several research reports. TD Cowen raised their target price on Nordstrom from $24.00 to $25.00 and gave the company a "hold" rating in a research note on Wednesday, August 28th. JPMorgan Chase & Co. upped their price objective on shares of Nordstrom from $19.00 to $20.00 and gave the stock an "underweight" rating in a research report on Wednesday, August 28th. Evercore ISI boosted their target price on shares of Nordstrom from $20.00 to $22.00 and gave the company an "in-line" rating in a research note on Wednesday, November 27th. UBS Group raised their price target on shares of Nordstrom from $13.00 to $14.50 and gave the stock a "sell" rating in a research note on Wednesday, November 27th. Finally, The Goldman Sachs Group raised their target price on Nordstrom from $19.00 to $21.00 and gave the stock a "neutral" rating in a research report on Wednesday, August 28th.

Insider Transactions at Nordstrom

In other Nordstrom 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 transaction, the chief operating officer now 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 Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 5.78% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Victory Capital Management Inc. lifted its holdings in shares of Nordstrom by 1.7% during the 2nd quarter. Victory Capital Management Inc. now owns 3,371,988 shares of the specialty retailer's stock valued at $71,554,000 after buying an additional 57,546 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of Nordstrom by 4.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,136,639 shares of the specialty retailer's stock worth $66,557,000 after purchasing an additional 137,094 shares during the period. American Century Companies Inc. grew its position in Nordstrom by 66.2% during the second quarter. American Century Companies Inc. now owns 1,661,227 shares of the specialty retailer's stock valued at $35,251,000 after buying an additional 661,769 shares during the period. Geode Capital Management LLC raised its position in Nordstrom by 0.3% in the third quarter. Geode Capital Management LLC now owns 1,625,616 shares of the specialty retailer's stock worth $36,570,000 after acquiring an additional 5,407 shares during the period. Finally, Marshall Wace LLP boosted its stake in shares of Nordstrom by 38.4% during the 2nd quarter. Marshall Wace LLP now owns 1,479,414 shares of the specialty retailer's stock worth $31,393,000 after acquiring an additional 410,152 shares during the last quarter. Hedge funds and other institutional investors own 88.73% of the company's stock.

Nordstrom Stock Performance

Shares of JWN remained flat at $22.96 during mid-day trading on Wednesday. 2,015,501 shares of the stock were exchanged, compared to its average volume of 3,038,413. The company has a market cap of $3.79 billion, a P/E ratio of 14.62 and a beta of 2.56. The company has a quick ratio of 0.35, a current ratio of 1.14 and a debt-to-equity ratio of 2.65. The business's fifty day moving average price is $22.98 and its 200 day moving average price is $22.35. Nordstrom has a one year low of $15.97 and a one year high of $24.99.

Nordstrom (NYSE:JWN - Get Free Report) last issued its quarterly earnings data 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. The business had revenue of $3.35 billion for the quarter, compared to analyst estimates of $3.34 billion. Nordstrom had a negative return on equity of 18.04% and a negative net margin of 1.57%. Nordstrom's quarterly revenue was up 4.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.25 EPS. As a group, equities analysts forecast that Nordstrom will post 1.93 earnings per share for the current fiscal year.

Nordstrom Announces Dividend

The business also recently declared 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. This represents a $0.76 dividend on an annualized basis and a yield of 3.31%. The ex-dividend date is Tuesday, December 3rd. Nordstrom's payout ratio is currently 48.41%.

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.