Nordstrom (NYSE:JWN) Research Coverage Started at StockNews.com

StockNews.com started coverage on shares of Nordstrom (NYSE:JWN) in a report issued on Tuesday. The firm issued a buy rating on the specialty retailer’s stock.

A number of other research analysts have also issued reports on the stock. Telsey Advisory Group reiterated a “market perform” rating and issued a $24.00 target price on shares of Nordstrom in a research note on Monday, January 13th. Bank of America boosted their price objective on shares of Nordstrom from $20.00 to $22.00 and gave the stock an “underperform” rating in a report on Wednesday, November 27th. Evercore ISI boosted their price objective on shares of Nordstrom from $22.00 to $24.00 and gave the stock an “in-line” rating in a report on Monday, January 13th. Citigroup boosted their price objective on shares of Nordstrom from $22.00 to $23.00 and gave the stock a “neutral” rating in a report on Tuesday, November 19th. Finally, Barclays boosted their price objective on shares of Nordstrom from $23.00 to $24.00 and gave the stock an “equal weight” rating in a report on Thursday, January 16th. Three investment analysts have rated the stock with a sell rating, eleven have given a hold rating and one has issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $22.17.

Nordstrom Stock Performance

Shares of JWN opened at $24.34 on Tuesday. The company’s fifty day moving average is $23.97 and its 200-day moving average is $23.05. Nordstrom has a 12 month low of $16.78 and a 12 month high of $24.99. The firm has a market cap of $4.02 billion, a price-to-earnings ratio of 15.50 and a beta of 2.51. The company has a quick ratio of 0.35, a current ratio of 1.14 and a debt-to-equity ratio of 2.65.

Nordstrom (NYSE:JWN) last posted its earnings results on Tuesday, November 26th. The specialty retailer reported $0.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.22 by $0.11. Nordstrom had a negative net margin of 1.57% and a negative return on equity of 18.04%. The business had revenue of $3.35 billion for the quarter, compared to analyst estimates of $3.34 billion. During the same period last year, the business posted $0.25 EPS. Nordstrom’s revenue was up 4.6% compared to the same quarter last year. Equities analysts expect that Nordstrom will post 1.97 EPS for the current fiscal year.

Nordstrom Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, December 18th. Stockholders of record on Tuesday, December 3rd were given a dividend of $0.19 per share. The ex-dividend date of this dividend was Tuesday, December 3rd. This represents a $0.76 dividend on an annualized basis and a dividend yield of 3.12%. Nordstrom’s payout ratio is 48.41%.

Institutional Investors Weigh In On Nordstrom

Institutional investors and hedge funds have recently modified their holdings of the business. Quantinno Capital Management LP boosted its holdings in shares of Nordstrom by 49.3% in the third quarter. Quantinno Capital Management LP now owns 145,146 shares of the specialty retailer’s stock valued at $3,264,000 after buying an additional 47,923 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in shares of Nordstrom by 17.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,422,856 shares of the specialty retailer’s stock valued at $32,000,000 after buying an additional 208,193 shares during the period. JPMorgan Chase & Co. boosted its holdings in shares of Nordstrom by 29.7% in the third quarter. JPMorgan Chase & Co. now owns 388,796 shares of the specialty retailer’s stock valued at $8,744,000 after buying an additional 89,114 shares during the period. Point72 Asset Management L.P. boosted its holdings in shares of Nordstrom by 190.1% in the third quarter. Point72 Asset Management L.P. now owns 59,678 shares of the specialty retailer’s stock valued at $1,342,000 after buying an additional 39,104 shares during the period. Finally, Sanctuary Advisors LLC boosted its holdings in Nordstrom by 160.9% during the third quarter. Sanctuary Advisors LLC now owns 51,071 shares of the specialty retailer’s stock worth $1,187,000 after purchasing an additional 31,498 shares during the last quarter. 88.73% of the stock is owned by 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.