Nordstrom, Inc. Announces Quarterly Dividend of $0.19 (NYSE:JWN)

Nordstrom, Inc. (NYSE:JWN) announced a quarterly dividend on Wednesday, November 20th,RTT News reports. Investors of record on Tuesday, December 3rd will be given a dividend of 0.19 per share by the specialty retailer on Wednesday, December 18th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 3.35%. The ex-dividend date of this dividend is Tuesday, December 3rd.

Nordstrom has raised its dividend payment by an average of 27.1% per year over the last three years. Nordstrom has a payout ratio of 37.4% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Nordstrom to earn $1.98 per share next year, which means the company should continue to be able to cover its $0.76 annual dividend with an expected future payout ratio of 38.4%.

Nordstrom Stock Up 0.4 %

JWN opened at $22.71 on Friday. The business’s fifty day moving average is $22.85 and its two-hundred day moving average is $22.24. The company has a debt-to-equity ratio of 2.65, a quick ratio of 0.41 and a current ratio of 1.14. The company has a market cap of $3.73 billion, a price-to-earnings ratio of 14.47 and a beta of 2.59. Nordstrom has a one year low of $15.08 and a one year high of $24.99.

Nordstrom (NYSE:JWN) last released its quarterly earnings results on Tuesday, November 26th. The specialty retailer reported $0.33 earnings per share for the quarter, topping analysts’ consensus estimates of $0.22 by $0.11. Nordstrom had a negative return on equity of 18.04% and a negative net margin of 1.57%. The company had revenue of $3.35 billion during the quarter, compared to analysts’ expectations of $3.34 billion. During the same period in the previous year, the firm posted $0.25 earnings per share. The business’s revenue for the quarter was up 4.6% compared to the same quarter last year. Analysts anticipate that Nordstrom will post 1.93 EPS for the current fiscal year.

Analysts Set New Price Targets

JWN has been the subject of a number of analyst reports. Barclays raised Nordstrom from an “underweight” rating to an “equal weight” rating and boosted their price target for the stock from $18.00 to $23.00 in a report on Thursday, September 5th. StockNews.com upgraded Nordstrom from a “buy” rating to a “strong-buy” rating in a research note on Wednesday. UBS Group upped their target price on Nordstrom from $13.00 to $14.50 and gave the company a “sell” rating in a research note on Wednesday. KeyCorp lowered Nordstrom from an “overweight” rating to a “sector weight” rating in a research note on Thursday, September 26th. Finally, Telsey Advisory Group upped their target price on Nordstrom from $24.00 to $26.00 and gave the company a “market perform” rating in a research note on Wednesday. Three research analysts have rated the stock with a sell rating, ten have issued a hold rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $21.29.

Insider Activity at Nordstrom

In related news, COO Alexis Depree sold 20,000 shares of the firm’s stock in a transaction dated Tuesday, September 24th. The stock was sold at an average price of $23.20, for a total transaction of $464,000.00. Following the sale, the chief operating officer now directly owns 169,331 shares in the company, valued at approximately $3,928,479.20. This trade represents a 10.56 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 5.78% of the company’s stock.

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.