Shares of Nordstrom, Inc. (NYSE:JWN – Get Rating) have received a consensus recommendation of “Hold” from the fifteen analysts that are presently covering the firm, MarketBeat.com reports. Three research analysts have rated the stock with a sell recommendation, five have given a hold recommendation and four have issued a buy recommendation on the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $22.79.
Several research analysts recently weighed in on the company. Barclays lowered their price objective on Nordstrom from $21.00 to $18.00 and set an “underweight” rating for the company in a research report on Thursday, August 25th. Telsey Advisory Group lowered their price objective on Nordstrom from $28.00 to $25.00 and set a “market perform” rating for the company in a research report on Wednesday, August 24th. Credit Suisse Group lowered their price objective on Nordstrom from $21.00 to $20.00 and set a “neutral” rating for the company in a research report on Wednesday. Citigroup decreased their price target on Nordstrom from $22.00 to $21.00 in a research note on Wednesday, August 24th. Finally, Morgan Stanley decreased their price target on Nordstrom from $19.00 to $18.00 and set an “underweight” rating on the stock in a research note on Wednesday, August 24th.
Institutional Trading of Nordstrom
Several hedge funds have recently modified their holdings of JWN. Sandy Spring Bank raised its stake in shares of Nordstrom by 500.0% in the second quarter. Sandy Spring Bank now owns 1,200 shares of the specialty retailer’s stock valued at $25,000 after acquiring an additional 1,000 shares in the last quarter. Tcwp LLC acquired a new stake in Nordstrom in the first quarter valued at $26,000. Charter Oak Capital Management LLC acquired a new stake in Nordstrom in the second quarter valued at $34,000. Bartlett & Co. LLC raised its stake in Nordstrom by 200.0% in the second quarter. Bartlett & Co. LLC now owns 1,950 shares of the specialty retailer’s stock valued at $41,000 after buying an additional 1,300 shares in the last quarter. Finally, Clear Street Markets LLC acquired a new stake in Nordstrom in the second quarter valued at $49,000. 59.36% of the stock is currently owned by institutional investors and hedge funds.
Nordstrom Price Performance
Nordstrom (NYSE:JWN – Get Rating) last issued its quarterly earnings data on Tuesday, November 22nd. The specialty retailer reported $0.20 earnings per share for the quarter, topping the consensus estimate of $0.14 by $0.06. The company had revenue of $3.50 billion during the quarter, compared to analyst estimates of $3.49 billion. Nordstrom had a return on equity of 57.97% and a net margin of 2.08%. The firm’s revenue for the quarter was down 3.8% compared to the same quarter last year. During the same period in the prior year, the business posted $0.39 earnings per share. Equities research analysts anticipate that Nordstrom will post 2.32 earnings per share for the current fiscal year.
Nordstrom Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 14th. Stockholders of record on Tuesday, November 29th will be paid a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 3.50%. The ex-dividend date is Monday, November 28th. Nordstrom’s payout ratio is currently 38.00%.
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; TrunkClub.com; Nordstrom.ca; Nordstrom stores; Nordstrom Rack stores; Nordstrom Locals; Nordstromrack.com and HauteLook; clearance stores under the Last Chance name; Trunk Club clubhouses; and Jeffrey boutiques.
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