UBS Group upgraded shares of Nordstrom (NYSE:JWN - Free Report) from a sell rating to a neutral rating in a research note issued to investors on Friday morning, MarketBeat.com reports. The brokerage currently has $24.00 target price on the specialty retailer's stock, up from their previous target price of $14.50.
Other equities research analysts have also recently issued research reports about the company. Telsey Advisory Group decreased their target price on Nordstrom from $26.00 to $24.00 and set a "market perform" rating for the company in a research note on Tuesday, December 24th. Evercore ISI boosted their price objective on Nordstrom from $20.00 to $22.00 and gave the stock an "in-line" rating in a report on Wednesday, November 27th. Citigroup increased their target price on shares of Nordstrom from $22.00 to $23.00 and gave the company a "neutral" rating in a report on Tuesday, November 19th. StockNews.com started coverage on Nordstrom in a research report on Friday. They issued a "buy" rating on the stock. Finally, KeyCorp cut shares of Nordstrom from an "overweight" rating to a "sector weight" rating in a report on Thursday, September 26th. Three investment analysts have rated the stock with a sell rating, eleven have given a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $21.92.
Get Our Latest Stock Report on JWN
Nordstrom Stock Performance
Shares of Nordstrom stock traded down $0.06 during midday trading on Friday, hitting $24.03. The company had a trading volume of 3,658,750 shares, compared to its average volume of 4,490,559. The business's 50 day simple moving average is $23.41 and its two-hundred day simple moving average is $22.70. The stock has a market cap of $3.97 billion, a PE ratio of 15.31 and a beta of 2.52. 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 1-year low of $16.78 and a 1-year high of $24.99.
Nordstrom (NYSE:JWN - Get Free Report) last issued its quarterly earnings results on Tuesday, November 26th. The specialty retailer reported $0.33 EPS for the quarter, topping the consensus estimate of $0.22 by $0.11. The company had revenue of $3.35 billion during the quarter, compared to analysts' expectations of $3.34 billion. Nordstrom had a negative net margin of 1.57% and a negative return on equity of 18.04%. Nordstrom's revenue was up 4.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.25 EPS. As a group, equities analysts predict that Nordstrom will post 1.94 EPS for the current fiscal year.
Nordstrom Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 18th. Stockholders of record on Tuesday, December 3rd were paid a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 3.16%. The ex-dividend date of this dividend was Tuesday, December 3rd. Nordstrom's dividend payout ratio (DPR) is 48.41%.
Institutional Trading of Nordstrom
Several institutional investors and hedge funds have recently added to or reduced their stakes in JWN. Venturi Wealth Management LLC grew its holdings in Nordstrom by 355.9% during the 3rd quarter. Venturi Wealth Management LLC now owns 1,272 shares of the specialty retailer's stock valued at $29,000 after purchasing an additional 993 shares during the last quarter. Point72 Hong Kong Ltd purchased a new position in Nordstrom in the second quarter valued at $71,000. Blue Trust Inc. boosted its holdings in Nordstrom by 57.7% in the 3rd quarter. Blue Trust Inc. now owns 3,839 shares of the specialty retailer's stock worth $81,000 after buying an additional 1,404 shares during the last quarter. CWM LLC boosted its holdings in shares of Nordstrom by 28.7% during the 3rd quarter. CWM LLC now owns 3,628 shares of the specialty retailer's stock worth $82,000 after purchasing an additional 810 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale increased its holdings in shares of Nordstrom by 70.5% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 5,387 shares of the specialty retailer's stock worth $112,000 after buying an additional 2,227 shares during the last quarter. Institutional investors own 88.73% of the company's stock.
About Nordstrom
(
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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.
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