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

Telsey Advisory Group reiterated their market perform rating on shares of Nordstrom (NYSE:JWN) in a report released on Friday morning, Benzinga reports. They currently have a $19.00 price objective on the specialty retailer’s stock.

Other analysts have also recently issued research reports about the stock. Barclays increased their price target on shares of Nordstrom from $14.00 to $15.00 and gave the stock an underweight rating in a research report on Wednesday, March 6th. The Goldman Sachs Group raised their target price on shares of Nordstrom from $16.00 to $18.00 and gave the company a neutral rating in a report on Wednesday, March 6th. Jefferies Financial Group reaffirmed 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. Citigroup reduced their target price on shares of Nordstrom from $21.00 to $20.00 and set a neutral rating on the stock in a report on Wednesday, March 6th. Finally, Bank of America increased their price target on shares of Nordstrom from $13.00 to $15.00 and gave the company an underperform rating in a research note on Wednesday, March 6th. Five analysts have rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of Hold and an average target price of $16.54.

Nordstrom Stock Performance

JWN opened at $18.92 on Friday. The company has a debt-to-equity ratio of 3.08, a current ratio of 1.02 and a quick ratio of 0.41. The firm has a fifty day moving average price of $19.24 and a 200 day moving average price of $17.35. Nordstrom has a 1 year low of $12.88 and a 1 year high of $23.53. The stock has a market cap of $3.09 billion, a P/E ratio of 23.65, a P/E/G ratio of 2.12 and a beta of 2.59.

Nordstrom (NYSE:JWN) last posted its quarterly earnings data on Tuesday, March 5th. The specialty retailer reported $0.96 earnings per share for the quarter, topping analysts’ consensus estimates of $0.90 by $0.06. Nordstrom had a net margin of 0.91% and a return on equity of 49.30%. The company had revenue of $4.29 billion during the quarter, compared to analysts’ expectations of $4.38 billion. During the same period in the prior year, the business posted $0.74 earnings per share. The firm’s revenue for the quarter was up 2.2% on a year-over-year basis. Equities research analysts anticipate that Nordstrom will post 1.81 earnings per share for the current year.

Nordstrom Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 27th. Shareholders of record on Tuesday, March 12th were issued a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 4.02%. The ex-dividend date was Monday, March 11th. Nordstrom’s dividend payout ratio (DPR) is currently 95.00%.

Institutional Investors Weigh In On Nordstrom

Hedge funds and other institutional investors have recently bought and sold shares of the business. Premier Path Wealth Partners LLC acquired a new stake in Nordstrom in the fourth quarter valued at $1,081,000. Wellington Management Group LLP raised its stake in shares of Nordstrom by 52.9% during the 3rd quarter. Wellington Management Group LLP now owns 363,690 shares of the specialty retailer’s stock worth $5,434,000 after buying an additional 125,877 shares during the last quarter. Victory Capital Management Inc. raised its stake in shares of Nordstrom by 48.7% during the 3rd quarter. Victory Capital Management Inc. now owns 2,312,694 shares of the specialty retailer’s stock worth $34,552,000 after buying an additional 757,000 shares during the last quarter. EP Wealth Advisors LLC raised its stake in shares of Nordstrom by 120.3% during the 3rd quarter. EP Wealth Advisors LLC now owns 12,027 shares of the specialty retailer’s stock worth $180,000 after buying an additional 6,567 shares during the last quarter. Finally, CenterBook Partners LP acquired a new position in shares of Nordstrom during the 3rd quarter worth $736,000. Institutional investors and hedge funds own 88.73% of the company’s stock.

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.