Analysts Set Nordstrom, Inc. (NYSE:JWN) Target Price at $20.33

Nordstrom, Inc. (NYSE:JWN - Get Free Report) has earned a consensus rating of "Reduce" from the thirteen research firms that are currently covering the stock, MarketBeat Ratings reports. Three analysts have rated the stock with a sell recommendation and ten have given a hold recommendation to the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $20.33.

A number of analysts have commented on the stock. JPMorgan Chase & Co. upped their target price on shares of Nordstrom from $19.00 to $20.00 and gave the company an "underweight" rating in a report on Wednesday, August 28th. KeyCorp cut Nordstrom from an "overweight" rating to a "sector weight" rating in a report on Thursday, September 26th. Bank of America boosted their price target on Nordstrom from $18.00 to $20.00 and gave the company an "underperform" rating in a report on Wednesday, August 28th. TD Cowen raised their price objective on Nordstrom from $24.00 to $25.00 and gave the stock a "hold" rating in a research note on Wednesday, August 28th. Finally, StockNews.com raised Nordstrom from a "hold" rating to a "buy" rating in a research report on Thursday, August 8th.

Nordstrom Stock Performance

Shares of JWN traded down $0.15 during mid-day trading on Friday, hitting $22.87. 1,430,370 shares of the company traded hands, compared to its average volume of 3,062,352. The company has a debt-to-equity ratio of 2.76, a quick ratio of 0.41 and a current ratio of 1.07. Nordstrom has a 1 year low of $13.68 and a 1 year high of $24.93. The stock has a market cap of $3.76 billion, a price-to-earnings ratio of 13.37 and a beta of 2.59. The stock has a 50-day moving average price of $22.74 and a two-hundred day moving average price of $22.03.

Nordstrom (NYSE:JWN - Get Free Report) last posted its earnings results on Tuesday, August 27th. The specialty retailer reported $0.96 earnings per share for the quarter, beating 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 the consensus estimate of $3.88 billion. During the same quarter in the prior year, the company earned $0.84 earnings per share. Nordstrom's revenue was up 3.2% on a year-over-year basis. Equities analysts anticipate that Nordstrom will post 1.91 earnings per share for the current year.

Nordstrom Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 18th. Investors of record on Tuesday, September 3rd were given a dividend of $0.19 per share. The ex-dividend date was Tuesday, September 3rd. This represents a $0.76 dividend on an annualized basis and a dividend yield of 3.32%. Nordstrom's dividend payout ratio is 44.44%.

Insider Activity at Nordstrom

In other news, COO Alexis Depree sold 20,000 shares of the stock in a transaction that occurred on Tuesday, September 24th. The stock was 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 directly owns 169,331 shares in the company, valued at approximately $3,928,479.20. This represents a 10.56 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 5.78% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Nordstrom

Hedge funds have recently bought and sold shares of the business. Verition Fund Management LLC grew its stake in shares of Nordstrom by 147.4% in the 3rd quarter. Verition Fund Management LLC now owns 1,218,365 shares of the specialty retailer's stock worth $27,401,000 after buying an additional 725,803 shares in the last quarter. American Century Companies Inc. increased its stake 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 worth $35,251,000 after acquiring an additional 661,769 shares during the last quarter. Vanguard Group Inc. increased its stake in Nordstrom by 5.7% during the first quarter. Vanguard Group Inc. now owns 10,653,007 shares of the specialty retailer's stock worth $215,936,000 after acquiring an additional 579,001 shares during the last quarter. Marshall Wace LLP raised its position in Nordstrom by 38.4% during the second quarter. Marshall Wace LLP now owns 1,479,414 shares of the specialty retailer's stock valued at $31,393,000 after purchasing an additional 410,152 shares during the period. Finally, NewSquare Capital LLC bought a new stake in shares of Nordstrom in the 2nd quarter valued at approximately $7,783,000. Hedge funds and other institutional investors own 88.73% of the company's stock.

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.