StockNews.com upgraded shares of Nordstrom (NYSE:JWN - Free Report) from a hold rating to a buy rating in a research note issued to investors on Wednesday morning.
JWN has been the topic of several other research reports. The Goldman Sachs Group lifted their target price on shares of Nordstrom from $16.00 to $18.00 and gave the stock a neutral rating in a report on Wednesday, March 6th. Jefferies Financial Group reiterated a hold rating and issued a $17.00 target price (down previously from $18.00) on shares of Nordstrom in a report on Thursday, March 7th. Piper Sandler lifted their target price on shares of Nordstrom from $17.00 to $20.00 and gave the stock a neutral rating in a report on Wednesday, March 6th. Evercore ISI lifted their target price on shares of Nordstrom from $17.00 to $19.00 and gave the stock an in-line rating in a report on Friday, May 31st. Finally, Bank of America lifted their target price on shares of Nordstrom from $15.00 to $18.00 and gave the stock an underperform rating in a report on Friday, May 31st. Five research analysts have rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Nordstrom currently has a consensus rating of Hold and an average price target of $17.42.
Read Our Latest Stock Report on JWN
Nordstrom Stock Up 0.7 %
Shares of Nordstrom stock traded up $0.15 during midday trading on Wednesday, reaching $21.60. 1,086,806 shares of the company's stock traded hands, compared to its average volume of 3,698,105. The company has a market cap of $3.53 billion, a price-to-earnings ratio of 11.80, a price-to-earnings-growth ratio of 2.43 and a beta of 2.62. The company's 50 day simple moving average is $21.05 and its 200 day simple moving average is $19.65. The company has a debt-to-equity ratio of 3.13, a quick ratio of 0.36 and a current ratio of 1.03. Nordstrom has a 52 week low of $12.88 and a 52 week high of $23.54.
Nordstrom (NYSE:JWN - Get Free Report) last released its quarterly earnings results on Thursday, May 30th. The specialty retailer reported ($0.24) earnings per share for the quarter, missing analysts' consensus estimates of ($0.08) by ($0.16). The business had revenue of $3.34 billion for the quarter, compared to the consensus estimate of $3.19 billion. Nordstrom had a negative net margin of 1.35% and a negative return on equity of 26.45%. The firm's revenue for the quarter was up 4.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.07 EPS. Equities analysts expect that Nordstrom will post 1.79 earnings per share for the current fiscal year.
Nordstrom Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 19th. Stockholders of record on Tuesday, June 4th were given a dividend of $0.19 per share. The ex-dividend date was Tuesday, June 4th. This represents a $0.76 annualized dividend and a dividend yield of 3.52%. Nordstrom's dividend payout ratio (DPR) is currently 41.53%.
Institutional Trading of Nordstrom
Several institutional investors have recently made changes to their positions in the business. Envestnet Asset Management Inc. boosted its position in Nordstrom by 33.0% in the third quarter. Envestnet Asset Management Inc. now owns 233,414 shares of the specialty retailer's stock valued at $3,487,000 after buying an additional 57,948 shares in the last quarter. Invesco Ltd. boosted its position in Nordstrom by 12.2% in the third quarter. Invesco Ltd. now owns 689,716 shares of the specialty retailer's stock valued at $10,304,000 after buying an additional 75,245 shares in the last quarter. Gotham Asset Management LLC boosted its position in Nordstrom by 44.5% in the third quarter. Gotham Asset Management LLC now owns 56,345 shares of the specialty retailer's stock valued at $842,000 after buying an additional 17,364 shares in the last quarter. Schonfeld Strategic Advisors LLC boosted its position in Nordstrom by 36.9% in the third quarter. Schonfeld Strategic Advisors LLC now owns 239,530 shares of the specialty retailer's stock valued at $3,579,000 after buying an additional 64,518 shares in the last quarter. Finally, AQR Capital Management LLC boosted its position in Nordstrom by 29.6% in the third quarter. AQR Capital Management LLC now owns 1,495,469 shares of the specialty retailer's stock valued at $22,238,000 after buying an additional 341,491 shares in the last quarter. 88.73% of the stock is currently owned by institutional investors and hedge funds.
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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