StockNews.com Begins Coverage on Nordstrom (NYSE:JWN)

StockNews.com began coverage on shares of Nordstrom (NYSE:JWN - Free Report) in a research note issued to investors on Friday. The brokerage issued a buy rating on the specialty retailer's stock.

Several other research analysts also recently commented on the company. Barclays boosted their target price on Nordstrom from $23.00 to $24.00 and gave the stock an "equal weight" rating in a report on Thursday, January 16th. Citigroup upped their price objective on Nordstrom from $22.00 to $23.00 and gave the stock a "neutral" rating in a report on Tuesday, November 19th. Argus downgraded Nordstrom from a "buy" rating to a "sell" rating in a report on Monday, December 30th. Evercore ISI upped their price objective on Nordstrom from $22.00 to $24.00 and gave the stock an "in-line" rating in a report on Monday, January 13th. Finally, UBS Group raised Nordstrom from a "sell" rating to a "neutral" rating and upped their price objective for the stock from $14.50 to $24.00 in a report on Friday, January 10th. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating and one has issued a buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $22.90.

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Nordstrom Price Performance

Shares of JWN traded up $0.07 on Friday, hitting $24.46. The company's stock had a trading volume of 2,993,299 shares, compared to its average volume of 2,291,777. The company has a market capitalization of $4.04 billion, a PE ratio of 15.58 and a beta of 2.60. 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 fifty-two week low of $16.78 and a fifty-two week high of $24.99. The company has a 50 day moving average price of $24.24 and a 200 day moving average price of $23.35.

Nordstrom (NYSE:JWN - Get Free Report) last announced its earnings results on Tuesday, March 4th. The specialty retailer reported $1.10 EPS for the quarter, topping the consensus estimate of $0.90 by $0.20. The business had revenue of $4.32 billion for the quarter, compared to the consensus estimate of $4.32 billion. Nordstrom had a negative return on equity of 18.04% and a negative net margin of 1.57%. On average, research analysts anticipate that Nordstrom will post 1.97 earnings per share for the current fiscal year.

Nordstrom Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 26th. Shareholders of record on Tuesday, March 11th will be given a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 3.11%. The ex-dividend date is Tuesday, March 11th. Nordstrom's payout ratio is 44.19%.

Institutional Trading of Nordstrom

Institutional investors and hedge funds have recently made changes to their positions in the business. Quantinno Capital Management LP increased its position in shares of Nordstrom by 49.3% in the 3rd quarter. Quantinno Capital Management LP now owns 145,146 shares of the specialty retailer's stock valued at $3,264,000 after buying an additional 47,923 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Nordstrom by 17.1% in 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 in the last quarter. JPMorgan Chase & Co. increased its position in shares of Nordstrom by 29.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 388,796 shares of the specialty retailer's stock valued at $8,744,000 after buying an additional 89,114 shares in the last quarter. Point72 Asset Management L.P. increased its position 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 valued at $1,342,000 after buying an additional 39,104 shares in the last quarter. Finally, Sanctuary Advisors LLC increased its position 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 valued at $1,187,000 after buying an additional 31,498 shares in the last quarter. Institutional investors own 88.73% of the company's stock.

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.