Barclays Issues Positive Forecast for Nordstrom (NYSE:JWN) Stock Price

Nordstrom (NYSE:JWN) had its price objective lifted by Barclays from $23.00 to $24.00 in a research note issued to investors on Thursday morning,Benzinga reports. They currently have an equal weight rating on the specialty retailer’s stock.

Several other analysts also recently weighed in on the stock. Argus downgraded shares of Nordstrom from a “buy” rating to a “sell” rating in a research note on Monday, December 30th. Citigroup lifted their price target on shares of Nordstrom from $22.00 to $23.00 and gave the company a “neutral” rating in a research note on Tuesday, November 19th. Evercore ISI boosted their price objective on shares of Nordstrom from $22.00 to $24.00 and gave the stock an “in-line” rating in a research note on Monday, January 13th. UBS Group raised shares of Nordstrom from a “sell” rating to a “neutral” rating and boosted their price objective for the stock from $14.50 to $24.00 in a research note on Friday, January 10th. Finally, Telsey Advisory Group reissued a “market perform” rating and issued a $24.00 price objective on shares of Nordstrom in a research note on Monday, January 13th. Three research analysts have rated the stock with a sell rating, eleven have given a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $22.17.

Nordstrom Stock Down 0.1 %

Shares of NYSE:JWN opened at $24.12 on Thursday. Nordstrom has a 1 year low of $16.78 and a 1 year high of $24.99. The business has a 50 day simple moving average of $23.55 and a two-hundred day simple moving average of $22.81. The firm has a market capitalization of $3.98 billion, a PE ratio of 15.36 and a beta of 2.52. The company has a debt-to-equity ratio of 2.65, a current ratio of 1.14 and a quick ratio of 0.35.

Nordstrom (NYSE:JWN) last posted its quarterly earnings results on Tuesday, November 26th. The specialty retailer reported $0.33 earnings per share for the quarter, beating the consensus estimate of $0.22 by $0.11. Nordstrom had a negative net margin of 1.57% and a negative return on equity of 18.04%. The firm had revenue of $3.35 billion during the quarter, compared to the consensus estimate of $3.34 billion. During the same quarter in the previous year, the firm posted $0.25 earnings per share. The company’s revenue was up 4.6% on a year-over-year basis. On average, equities analysts predict that Nordstrom will post 1.95 EPS for the current year.

Nordstrom Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 18th. Stockholders of record on Tuesday, December 3rd were given a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 3.15%. The ex-dividend date of this dividend was Tuesday, December 3rd. Nordstrom’s payout ratio is presently 48.41%.

Hedge Funds Weigh In On Nordstrom

A number of large investors have recently made changes to their positions in JWN. Quantinno Capital Management LP grew its holdings in shares of Nordstrom by 49.3% during the third quarter. Quantinno Capital Management LP now owns 145,146 shares of the specialty retailer’s stock valued at $3,264,000 after buying an additional 47,923 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Nordstrom by 17.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,422,856 shares of the specialty retailer’s stock valued at $32,000,000 after buying an additional 208,193 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Nordstrom by 29.7% during the third quarter. JPMorgan Chase & Co. now owns 388,796 shares of the specialty retailer’s stock valued at $8,744,000 after buying an additional 89,114 shares during the last quarter. Point72 Asset Management L.P. grew its holdings in shares of Nordstrom by 190.1% during the third quarter. Point72 Asset Management L.P. now owns 59,678 shares of the specialty retailer’s stock valued at $1,342,000 after buying an additional 39,104 shares during the last quarter. Finally, Sanctuary Advisors LLC grew its holdings in shares of Nordstrom by 160.9% during the third quarter. Sanctuary Advisors LLC now owns 51,071 shares of the specialty retailer’s stock valued at $1,187,000 after buying an additional 31,498 shares during the last quarter. 88.73% of the stock is owned by institutional investors and hedge funds.

About Nordstrom

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.