Nordstrom (NYSE:JWN) Coverage Initiated by Analysts at StockNews.com

StockNews.com began coverage on shares of Nordstrom (NYSE:JWN) in a research report sent to investors on Thursday. The brokerage issued a buy rating on the specialty retailer’s stock.

A number of other analysts have also commented on JWN. Barclays lifted their price target on Nordstrom from $23.00 to $24.00 and gave the stock an “equal weight” rating in a report on Thursday, January 16th. Bank of America lifted their price target on Nordstrom from $20.00 to $22.00 and gave the stock an “underperform” rating in a report on Wednesday, November 27th. Citigroup lifted their price target on Nordstrom from $22.00 to $23.00 and gave the stock a “neutral” rating in a report on Tuesday, November 19th. UBS Group upgraded Nordstrom from a “sell” rating to a “neutral” rating and boosted their target price for the company from $14.50 to $24.00 in a research note on Friday, January 10th. Finally, Evercore ISI boosted their target price on Nordstrom from $22.00 to $24.00 and gave the company an “in-line” rating in a research note on Monday, January 13th. Three analysts have rated the stock with a sell rating, eleven have assigned a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $22.17.

Nordstrom Stock Down 0.1 %

Shares of NYSE:JWN opened at $24.31 on Thursday. The business’s 50 day moving average is $24.23 and its 200 day moving average is $23.23. The stock has a market cap of $4.01 billion, a price-to-earnings ratio of 15.48 and a beta of 2.51. Nordstrom has a 12-month low of $16.78 and a 12-month high of $24.99. The company has a quick ratio of 0.35, a current ratio of 1.14 and a debt-to-equity ratio of 2.65.

Nordstrom (NYSE:JWN) last issued its quarterly earnings results on Tuesday, November 26th. The specialty retailer reported $0.33 EPS for the quarter, topping analysts’ consensus estimates of $0.22 by $0.11. The business had revenue of $3.35 billion for the quarter, compared to analyst estimates of $3.34 billion. Nordstrom had a negative return on equity of 18.04% and a negative net margin of 1.57%. Nordstrom’s quarterly revenue was up 4.6% compared to the same quarter last year. During the same period last year, the company posted $0.25 earnings per share. On average, sell-side analysts forecast that Nordstrom will post 1.97 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, March 26th. Investors of record on Tuesday, March 11th will be paid a dividend of $0.19 per share. The ex-dividend date is Tuesday, March 11th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 3.13%. Nordstrom’s payout ratio is 48.41%.

Hedge Funds Weigh In On Nordstrom

Several hedge funds and other institutional investors have recently added to or reduced their stakes in JWN. Creative Planning grew its position in Nordstrom by 22.9% during the third quarter. Creative Planning now owns 12,025 shares of the specialty retailer’s stock worth $270,000 after buying an additional 2,238 shares in the last quarter. Blue Trust Inc. grew its position in Nordstrom by 57.7% during the third quarter. Blue Trust Inc. now owns 3,839 shares of the specialty retailer’s stock worth $81,000 after buying an additional 1,404 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position in Nordstrom by 42.2% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 8,250 shares of the specialty retailer’s stock worth $183,000 after buying an additional 2,450 shares in the last quarter. State of Alaska Department of Revenue grew its position in Nordstrom by 7.3% during the third quarter. State of Alaska Department of Revenue now owns 11,236 shares of the specialty retailer’s stock worth $252,000 after buying an additional 760 shares in the last quarter. Finally, Nisa Investment Advisors LLC grew its position in Nordstrom by 6.3% during the third quarter. Nisa Investment Advisors LLC now owns 30,370 shares of the specialty retailer’s stock worth $683,000 after buying an additional 1,800 shares in the last quarter. 88.73% of the stock is currently owned by hedge funds and other 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.