Nordstrom (NYSE:JWN) PT Raised to $20.00

Nordstrom (NYSE:JWN) had its target price lifted by Bank of America from $18.00 to $20.00 in a report released on Wednesday morning, Benzinga reports. Bank of America currently has an underperform rating on the specialty retailer’s stock.

Several other equities research analysts have also issued reports on JWN. StockNews.com upgraded Nordstrom from a hold rating to a buy rating in a report on Thursday, August 8th. Barclays lifted their price target on Nordstrom from $15.00 to $18.00 and gave the company an underweight rating in a report on Friday, May 31st. JPMorgan Chase & Co. lifted their price target on Nordstrom from $15.00 to $17.00 and gave the company an underweight rating in a report on Friday, May 17th. Telsey Advisory Group lifted their price target on Nordstrom from $23.00 to $24.00 and gave the company a market perform rating in a report on Wednesday. Finally, Evercore ISI lifted their price target on Nordstrom from $17.00 to $19.00 and gave the company an in-line rating in a report on Friday, May 31st. Four research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, Nordstrom currently has a consensus rating of Hold and a consensus price target of $19.85.

Nordstrom Trading Up 1.6 %

Shares of NYSE JWN opened at $22.34 on Wednesday. Nordstrom has a one year low of $12.88 and a one year high of $24.03. The firm has a market capitalization of $3.66 billion, a PE ratio of 12.21, a PEG ratio of 2.55 and a beta of 2.62. The company has a current ratio of 1.03, a quick ratio of 0.36 and a debt-to-equity ratio of 3.13. The business has a 50-day moving average price of $21.95 and a two-hundred day moving average price of $20.69.

Nordstrom (NYSE:JWN) last announced its quarterly earnings data on Tuesday, August 27th. The specialty retailer reported $0.96 EPS for the quarter, topping analysts’ consensus estimates of $0.71 by $0.25. Nordstrom had a negative return on equity of 26.45% and a negative net margin of 1.35%. The firm had revenue of $3.89 billion during the quarter, compared to analyst estimates of $3.88 billion. During the same period last year, the company posted $0.84 EPS. The business’s quarterly revenue was up 3.2% compared to the same quarter last year. As a group, analysts predict that Nordstrom will post 1.79 earnings per share for the current fiscal year.

Nordstrom Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 18th. Shareholders of record on Tuesday, September 3rd will be given a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 3.40%. The ex-dividend date is Tuesday, September 3rd. Nordstrom’s dividend payout ratio is currently 41.53%.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in JWN. Norges Bank bought a new position in Nordstrom in the 4th quarter worth approximately $23,572,000. Dimensional Fund Advisors LP increased its position in Nordstrom by 64.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,829,662 shares of the specialty retailer’s stock worth $52,212,000 after buying an additional 1,104,604 shares during the period. Victory Capital Management Inc. increased its position in Nordstrom by 42.2% in the 4th quarter. Victory Capital Management Inc. now owns 3,288,612 shares of the specialty retailer’s stock worth $60,675,000 after buying an additional 975,918 shares during the period. Schroder Investment Management Group increased its position in Nordstrom by 44.9% in the 4th quarter. Schroder Investment Management Group now owns 2,648,637 shares of the specialty retailer’s stock worth $48,867,000 after buying an additional 820,390 shares during the period. Finally, American Century Companies Inc. increased its position in Nordstrom by 66.2% in the 2nd quarter. American Century Companies Inc. now owns 1,661,227 shares of the specialty retailer’s stock worth $35,251,000 after buying an additional 661,769 shares during the period. 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.