Nordstrom (NYSE:JWN) Receives Market Perform Rating from Telsey Advisory Group

Telsey Advisory Group reissued their market perform rating on shares of Nordstrom (NYSE:JWN - Free Report) in a report published on Wednesday morning,Benzinga reports. They currently have a $24.00 price objective on the specialty retailer's stock.

Several other research analysts have also commented on JWN. JPMorgan Chase & Co. boosted their price objective on shares of Nordstrom from $19.00 to $20.00 and gave the stock an "underweight" rating in a research note on Wednesday, August 28th. TD Cowen upped their price target on shares of Nordstrom from $24.00 to $25.00 and gave the company a "hold" rating in a research note on Wednesday, August 28th. KeyCorp lowered shares of Nordstrom from an "overweight" rating to a "sector weight" rating in a report on Thursday, September 26th. Bank of America lifted their target price on Nordstrom from $18.00 to $20.00 and gave the stock an "underperform" rating in a report on Wednesday, August 28th. Finally, BMO Capital Markets lifted their target price on Nordstrom from $20.00 to $22.00 and gave the stock a "market perform" rating in a report on Wednesday, August 28th. Three investment analysts have rated the stock with a sell rating, ten have issued a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $20.58.

Nordstrom Stock Down 1.8 %

Shares of NYSE:JWN traded down $0.42 during trading hours on Wednesday, hitting $22.26. The company's stock had a trading volume of 1,693,367 shares, compared to its average volume of 3,041,261. Nordstrom has a 52 week low of $13.68 and a 52 week high of $24.93. The company has a debt-to-equity ratio of 2.76, a current ratio of 1.07 and a quick ratio of 0.41. The company has a market capitalization of $3.65 billion, a price-to-earnings ratio of 13.25 and a beta of 2.59. The firm's fifty day moving average price is $22.75 and its 200 day moving average price is $22.11.

Nordstrom (NYSE:JWN - Get Free Report) last posted its quarterly earnings results on Tuesday, August 27th. The specialty retailer reported $0.96 EPS for the quarter, beating the consensus estimate of $0.71 by $0.25. The business had revenue of $3.89 billion during the quarter, compared to analyst estimates of $3.88 billion. Nordstrom had a negative net margin of 1.44% and a negative return on equity of 21.26%. The company's quarterly revenue was up 3.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.84 EPS. As a group, research analysts expect that Nordstrom will post 1.91 EPS for the current year.

Nordstrom Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Tuesday, December 3rd will be given a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 3.41%. Nordstrom's dividend payout ratio (DPR) is presently 44.44%.

Insider Activity

In related news, COO Alexis Depree sold 20,000 shares of the business's stock in a transaction that occurred on Tuesday, September 24th. The stock was sold at an average price of $23.20, for a total transaction of $464,000.00. Following the completion of the sale, the chief operating officer now directly owns 169,331 shares in the company, valued at approximately $3,928,479.20. The trade was a 10.56 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 5.78% of the company's stock.

Institutional Trading of Nordstrom

Several large investors have recently made changes to their positions in the company. Verition Fund Management LLC boosted its stake in Nordstrom by 147.4% during the third quarter. Verition Fund Management LLC now owns 1,218,365 shares of the specialty retailer's stock worth $27,401,000 after buying an additional 725,803 shares during the last quarter. American Century Companies Inc. lifted its stake in shares of Nordstrom by 66.2% in 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 purchasing an additional 661,769 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of Nordstrom by 5.7% in the 1st quarter. Vanguard Group Inc. now owns 10,653,007 shares of the specialty retailer's stock valued at $215,936,000 after purchasing an additional 579,001 shares during the last quarter. Marshall Wace LLP raised its holdings in shares of Nordstrom by 38.4% in the 2nd quarter. Marshall Wace LLP now owns 1,479,414 shares of the specialty retailer's stock valued at $31,393,000 after buying an additional 410,152 shares during the period. Finally, NewSquare Capital LLC purchased a new stake in shares of Nordstrom in the 2nd quarter valued at $7,783,000. 88.73% of the stock is currently owned by hedge funds and other institutional investors.

About Nordstrom

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.