Nordstrom (NYSE:JWN) Trading 4.2% Higher – Here’s What Happened

Nordstrom, Inc. (NYSE:JWN) traded up 4.2% during mid-day trading on Tuesday . The stock traded as high as $24.01 and last traded at $23.88. 911,465 shares changed hands during trading, a decline of 72% from the average session volume of 3,200,628 shares. The stock had previously closed at $22.91.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the stock. Barclays raised shares of Nordstrom from an “underweight” rating to an “equal weight” rating and increased their price objective for the stock from $18.00 to $23.00 in a research report on Thursday, September 5th. StockNews.com raised Nordstrom from a “hold” rating to a “buy” rating in a research note on Thursday, August 8th. BMO Capital Markets increased 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. The Goldman Sachs Group boosted their price target on shares of Nordstrom from $19.00 to $21.00 and gave the company a “neutral” rating in a research note on Wednesday, August 28th. Finally, KeyCorp cut shares of Nordstrom from an “overweight” rating to a “sector weight” rating in a research report on Thursday, September 26th. Three equities research analysts have rated the stock with a sell rating, ten have given a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $20.23.

Nordstrom Price Performance

The stock has a market cap of $4.00 billion, a P/E ratio of 13.36 and a beta of 2.60. The company has a debt-to-equity ratio of 2.76, a quick ratio of 0.41 and a current ratio of 1.07. The firm has a 50-day moving average price of $22.30 and a 200-day moving average price of $21.42.

Nordstrom (NYSE:JWN) last announced its quarterly earnings data 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 return on equity of 21.26% and a negative net margin of 1.44%. The company’s revenue for the quarter was up 3.2% on a year-over-year basis. During the same quarter last year, the firm posted $0.84 earnings per share. On average, analysts forecast that Nordstrom, Inc. will post 1.89 earnings per share for the current fiscal year.

Nordstrom Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 18th. Investors of record on Tuesday, September 3rd were given a $0.19 dividend. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $0.76 annualized dividend and a yield of 3.11%. Nordstrom’s dividend payout ratio (DPR) is presently 41.53%.

Insider Buying and Selling at Nordstrom

In other Nordstrom news, COO Alexis Depree sold 20,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 24th. The shares were sold at an average price of $23.20, for a total transaction of $464,000.00. Following the sale, the chief operating officer now owns 169,331 shares in the company, valued at approximately $3,928,479.20. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 5.78% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in shares of Nordstrom by 5.7% during the 1st quarter. Vanguard Group Inc. now owns 10,653,007 shares of the specialty retailer’s stock worth $215,936,000 after purchasing an additional 579,001 shares during the period. Victory Capital Management Inc. lifted its position in shares of Nordstrom by 1.7% during 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 last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Nordstrom by 4.6% during the second quarter. Dimensional Fund Advisors LP now owns 3,136,639 shares of the specialty retailer’s stock valued at $66,557,000 after purchasing an additional 137,094 shares during the period. American Century Companies Inc. grew its holdings in shares of Nordstrom by 66.2% in the second quarter. American Century Companies Inc. now owns 1,661,227 shares of the specialty retailer’s stock worth $35,251,000 after purchasing an additional 661,769 shares during the last quarter. Finally, Marshall Wace LLP increased its stake in Nordstrom by 38.4% in the 2nd quarter. Marshall Wace LLP now owns 1,479,414 shares of the specialty retailer’s stock worth $31,393,000 after buying an additional 410,152 shares during the period. 88.73% of the stock is owned by hedge funds and other 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.