Nordstrom (NYSE:JWN) Trading 4.5% Higher - Time to Buy?

Nordstrom, Inc. (NYSE:JWN - Get Free Report) shares rose 4.5% during trading on Thursday . The company traded as high as $24.08 and last traded at $23.93. Approximately 475,349 shares traded hands during mid-day trading, a decline of 84% from the average daily volume of 3,003,008 shares. The stock had previously closed at $22.89.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. UBS Group lifted their target price on Nordstrom from $13.00 to $14.50 and gave the stock a "sell" rating in a report on Wednesday, November 27th. TD Cowen raised their target price on shares of Nordstrom from $24.00 to $25.00 and gave the stock a "hold" rating in a report on Wednesday, August 28th. Barclays raised Nordstrom from an "underweight" rating to an "equal weight" rating and raised their price objective for the stock from $18.00 to $23.00 in a research note on Thursday, September 5th. KeyCorp lowered Nordstrom from an "overweight" rating to a "sector weight" rating in a research report on Thursday, September 26th. Finally, Citigroup upped their price objective on shares of Nordstrom from $22.00 to $23.00 and gave the company a "neutral" rating in a research note on Tuesday, November 19th. Three research analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, Nordstrom has a consensus rating of "Hold" and a consensus target price of $21.29.

Nordstrom Stock Up 5.1 %

The company has a debt-to-equity ratio of 2.65, a current ratio of 1.14 and a quick ratio of 0.35. The business has a 50 day simple moving average of $23.10 and a 200 day simple moving average of $22.40. The stock has a market cap of $3.97 billion, a PE ratio of 15.32 and a beta of 2.56.

Nordstrom (NYSE:JWN - Get Free Report) last released its quarterly earnings data on Tuesday, November 26th. The specialty retailer reported $0.33 EPS for the quarter, topping analysts' consensus estimates 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 the consensus estimate of $3.34 billion. During the same quarter in the prior year, the company posted $0.25 earnings per share. The firm's revenue was up 4.6% on a year-over-year basis. On average, equities research analysts forecast that Nordstrom, Inc. will post 1.94 EPS for the current fiscal year.

Nordstrom Announces Dividend

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 of this dividend was Tuesday, December 3rd. This represents a $0.76 annualized dividend and a dividend yield of 3.16%. Nordstrom's dividend payout ratio (DPR) is presently 48.41%.

Insider Activity at Nordstrom

In other news, COO Alexis Depree sold 20,000 shares of the firm's stock in a transaction dated Tuesday, September 24th. The stock was sold at an average price of $23.20, for a total value of $464,000.00. Following the sale, the chief operating officer now directly 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 SEC, which can be accessed through this hyperlink. 5.78% of the stock is owned by company insiders.

Institutional Inflows and Outflows

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

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.