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 Wednesday morning,Benzinga reports. They currently have a $24.00 target price on the specialty retailer’s stock.

Several other equities analysts also recently issued reports on the company. Bank of America lifted their price objective on Nordstrom from $18.00 to $20.00 and gave the company an “underperform” rating in a research report on Wednesday, August 28th. The Goldman Sachs Group lifted their target price on Nordstrom from $19.00 to $21.00 and gave the company a “neutral” rating in a research note on Wednesday, August 28th. BMO Capital Markets lifted their target price on Nordstrom from $20.00 to $22.00 and gave the company a “market perform” rating in a research note on Wednesday, August 28th. StockNews.com raised Nordstrom from a “hold” rating to a “buy” rating in a research note on Thursday, August 8th. Finally, JPMorgan Chase & Co. lifted their target price on Nordstrom from $19.00 to $20.00 and gave the company an “underweight” rating in a research note on Wednesday, August 28th. Three investment analysts have rated the stock with a sell rating, ten have issued a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, Nordstrom currently has an average rating of “Hold” and a consensus target price of $20.58.

Nordstrom Trading Up 3.9 %

Shares of JWN opened at $23.24 on Wednesday. The stock has a fifty day moving average price of $22.75 and a two-hundred day moving average price of $22.11. The company has a debt-to-equity ratio of 2.76, a quick ratio of 0.41 and a current ratio of 1.07. Nordstrom has a 52-week low of $14.39 and a 52-week high of $24.93. The company has a market cap of $3.82 billion, a price-to-earnings ratio of 13.59 and a beta of 2.59.

Nordstrom (NYSE:JWN) last issued its quarterly earnings data on Tuesday, August 27th. The specialty retailer reported $0.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.71 by $0.25. Nordstrom had a negative return on equity of 21.26% and a negative net margin of 1.44%. The firm had revenue of $3.89 billion during the quarter, compared to the consensus estimate of $3.88 billion. During the same quarter in the previous year, the company posted $0.84 EPS. The business’s revenue for the quarter was up 3.2% compared to the same quarter last year. Analysts predict that Nordstrom will post 1.91 EPS for the current fiscal year.

Nordstrom Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Tuesday, December 3rd will be paid a dividend of $0.19 per share. The ex-dividend date of this dividend is Tuesday, December 3rd. This represents a $0.76 dividend on an annualized basis and a dividend yield of 3.27%. Nordstrom’s dividend payout ratio (DPR) is presently 44.44%.

Insider Buying and Selling

In other Nordstrom news, COO Alexis Depree sold 20,000 shares of the business’s stock in a transaction dated Tuesday, September 24th. The stock was sold at an average price of $23.20, for a total value of $464,000.00. Following the completion of the transaction, the chief operating officer now directly owns 169,331 shares of the company’s stock, valued at approximately $3,928,479.20. The trade was a 10.56 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 5.78% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. CANADA LIFE ASSURANCE Co grew its stake in Nordstrom by 0.6% in the first quarter. CANADA LIFE ASSURANCE Co now owns 90,144 shares of the specialty retailer’s stock valued at $1,828,000 after acquiring an additional 520 shares during the period. Atlas Capital Advisors LLC grew its stake in Nordstrom by 101.8% in the second quarter. Atlas Capital Advisors LLC now owns 1,491 shares of the specialty retailer’s stock valued at $32,000 after acquiring an additional 752 shares during the period. State of Alaska Department of Revenue grew its stake in Nordstrom by 7.3% in the third quarter. State of Alaska Department of Revenue now owns 11,236 shares of the specialty retailer’s stock valued at $252,000 after acquiring an additional 760 shares during the period. Stephens Inc. AR grew its stake in Nordstrom by 0.5% in the third quarter. Stephens Inc. AR now owns 153,061 shares of the specialty retailer’s stock valued at $3,442,000 after acquiring an additional 805 shares during the period. Finally, CWM LLC grew its stake in Nordstrom by 28.7% in the third quarter. CWM LLC now owns 3,628 shares of the specialty retailer’s stock valued at $82,000 after acquiring an additional 810 shares during the period. 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.