Nordstrom (NYSE:JWN) Coverage Initiated at StockNews.com

StockNews.com initiated coverage on shares of Nordstrom (NYSE:JWN - Free Report) in a report issued on Tuesday morning. The brokerage issued a buy rating on the specialty retailer's stock.

A number of other equities research analysts also recently weighed in on JWN. Bank of America lifted their price target 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. Argus cut shares of Nordstrom from a "buy" rating to a "sell" rating in a research note on Monday, December 30th. UBS Group upgraded shares of Nordstrom from a "sell" rating to a "neutral" rating and raised their price target for the stock from $14.50 to $24.00 in a research note on Friday, January 10th. Barclays raised their price target on shares of Nordstrom from $23.00 to $24.00 and gave the stock an "equal weight" rating in a research note on Thursday, January 16th. Finally, Evercore ISI upped their price target on Nordstrom from $22.00 to $24.00 and gave the company an "in-line" rating in a research report on Monday, January 13th. Three investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, Nordstrom has a consensus rating of "Hold" and a consensus price target of $22.17.

Remove Ads

Nordstrom Stock Performance

Nordstrom stock traded up $0.03 during mid-day trading on Tuesday, reaching $24.34. The company had a trading volume of 845,434 shares, compared to its average volume of 2,356,008. The company has a quick ratio of 0.35, a current ratio of 1.14 and a debt-to-equity ratio of 2.65. Nordstrom has a 52 week low of $16.78 and a 52 week high of $24.99. The company has a 50 day moving average of $23.99 and a 200-day moving average of $23.06. The firm has a market cap of $4.02 billion, a price-to-earnings ratio of 15.50 and a beta of 2.51.

Nordstrom (NYSE:JWN - Get Free Report) last issued its quarterly earnings results on Tuesday, November 26th. The specialty retailer reported $0.33 earnings per share (EPS) 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 firm had revenue of $3.35 billion for the quarter, compared to analyst estimates of $3.34 billion. During the same period in the previous year, the company posted $0.25 earnings per share. The company's quarterly revenue was up 4.6% compared to the same quarter last year. On average, sell-side analysts expect that Nordstrom will post 1.97 EPS for the current fiscal year.

Nordstrom Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 18th. Stockholders of record on Tuesday, December 3rd were paid a dividend of $0.19 per share. The ex-dividend date was Tuesday, December 3rd. This represents a $0.76 annualized dividend and a dividend yield of 3.12%. Nordstrom's dividend payout ratio (DPR) is currently 48.41%.

Institutional Trading of Nordstrom

Several hedge funds have recently modified their holdings of the stock. Quantinno Capital Management LP raised its position in shares of Nordstrom by 49.3% during the third quarter. Quantinno Capital Management LP now owns 145,146 shares of the specialty retailer's stock worth $3,264,000 after acquiring an additional 47,923 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake 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 purchasing an additional 208,193 shares during the last quarter. JPMorgan Chase & Co. boosted its stake 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 purchasing an additional 89,114 shares during the last quarter. 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 valued at $1,342,000 after purchasing an additional 39,104 shares during the last quarter. Finally, Sanctuary Advisors LLC boosted its stake 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 purchasing an additional 31,498 shares during the last quarter. 88.73% of the stock is owned by institutional investors.

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.