Nordstrom (NYSE:JWN – Free Report) had its price objective raised by TD Cowen from $24.00 to $25.00 in a research note released on Wednesday morning, Benzinga reports. TD Cowen currently has a hold rating on the specialty retailer’s stock.
A number of other brokerages have also weighed in on JWN. Barclays boosted their price target on Nordstrom from $15.00 to $18.00 and gave the stock an underweight rating in a research note on Friday, May 31st. Bank of America boosted their target price on shares of Nordstrom from $18.00 to $20.00 and gave the stock an underperform rating in a research report on Wednesday. The Goldman Sachs Group lifted their price objective on shares of Nordstrom from $19.00 to $21.00 and gave the stock a neutral rating in a research note on Wednesday. StockNews.com raised shares of Nordstrom from a hold rating to a buy rating in a report on Thursday, August 8th. Finally, JPMorgan Chase & Co. raised their target price on Nordstrom from $15.00 to $17.00 and gave the stock an underweight rating in a research note on Friday, May 17th. Four research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of Hold and an average price target of $19.85.
Check Out Our Latest Stock Report on JWN
Nordstrom Price Performance
Nordstrom (NYSE:JWN – Get Free Report) last issued its quarterly earnings data on Tuesday, August 27th. The specialty retailer reported $0.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.71 by $0.25. The firm had revenue of $3.89 billion for the quarter, compared to the consensus estimate of $3.88 billion. Nordstrom had a negative net margin of 1.35% and a negative return on equity of 26.45%. The company’s quarterly revenue was up 3.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.84 EPS. Research analysts predict that Nordstrom will post 1.79 earnings per share for the current fiscal year.
Nordstrom Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 18th. Stockholders of record on Tuesday, September 3rd will be paid a $0.19 dividend. The ex-dividend date is Tuesday, September 3rd. This represents a $0.76 dividend on an annualized basis and a dividend yield of 3.40%. Nordstrom’s payout ratio is 41.53%.
Institutional Inflows and Outflows
Large investors have recently bought and sold shares of the stock. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Nordstrom by 25.3% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 24,257 shares of the specialty retailer’s stock valued at $448,000 after purchasing an additional 4,893 shares during the period. Truist Financial Corp boosted its stake in shares of Nordstrom by 14.8% during the 4th quarter. Truist Financial Corp now owns 55,614 shares of the specialty retailer’s stock worth $1,026,000 after acquiring an additional 7,161 shares in the last quarter. Hexagon Capital Partners LLC boosted its stake in shares of Nordstrom by 77.6% during the 4th quarter. Hexagon Capital Partners LLC now owns 1,989 shares of the specialty retailer’s stock worth $37,000 after acquiring an additional 869 shares in the last quarter. Victory Capital Management Inc. grew its position in shares of Nordstrom by 42.2% during the 4th quarter. Victory Capital Management Inc. now owns 3,288,612 shares of the specialty retailer’s stock valued at $60,675,000 after acquiring an additional 975,918 shares during the period. Finally, Los Angeles Capital Management LLC purchased a new position in shares of Nordstrom in the 4th quarter valued at about $1,211,000. 88.73% of the stock is owned by institutional investors and hedge funds.
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.
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