Nordstrom, Inc. (NYSE:JWN) Given Consensus Rating of “Reduce” by Analysts

Nordstrom, Inc. (NYSE:JWN) has received a consensus recommendation of “Reduce” from the thirteen analysts that are currently covering the company, MarketBeat.com reports. Three analysts have rated the stock with a sell recommendation and ten have issued a hold recommendation on the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $20.33.

A number of brokerages recently commented on JWN. The Goldman Sachs Group increased their price target on Nordstrom from $19.00 to $21.00 and gave the company a “neutral” rating in a research note on Wednesday, August 28th. Telsey Advisory Group increased their target price on Nordstrom from $23.00 to $24.00 and gave the company a “market perform” rating in a research report on Wednesday, August 28th. BMO Capital Markets boosted their price target on shares of Nordstrom from $20.00 to $22.00 and gave the stock a “market perform” rating in a research report on Wednesday, August 28th. StockNews.com raised shares of Nordstrom from a “hold” rating to a “buy” rating in a research note on Thursday, August 8th. Finally, Bank of America lifted their price objective on shares of Nordstrom from $18.00 to $20.00 and gave the stock an “underperform” rating in a research note on Wednesday, August 28th.

Nordstrom Trading Down 0.7 %

Nordstrom stock opened at $22.87 on Friday. Nordstrom has a 1 year low of $13.68 and a 1 year high of $24.93. The firm’s 50 day moving average price is $22.74 and its 200-day moving average price is $22.01. The company has a debt-to-equity ratio of 2.76, a current ratio of 1.07 and a quick ratio of 0.41. The stock has a market cap of $3.76 billion, a P/E ratio of 13.37 and a beta of 2.59.

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

Nordstrom Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 18th. Shareholders of record on Tuesday, September 3rd were given a dividend of $0.19 per share. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $0.76 annualized dividend and a dividend yield of 3.32%. Nordstrom’s dividend payout ratio (DPR) is presently 44.44%.

Insider Activity

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

Hedge Funds Weigh In On Nordstrom

A number of institutional investors have recently modified their holdings of JWN. Venturi Wealth Management LLC boosted its holdings in shares of Nordstrom by 355.9% in the third quarter. Venturi Wealth Management LLC now owns 1,272 shares of the specialty retailer’s stock valued at $29,000 after purchasing an additional 993 shares during the period. Atlas Capital Advisors LLC lifted its holdings in shares of Nordstrom by 101.8% in the 2nd quarter. Atlas Capital Advisors LLC now owns 1,491 shares of the specialty retailer’s stock worth $32,000 after buying an additional 752 shares during the period. Rothschild Investment LLC bought a new position in shares of Nordstrom during the 2nd quarter worth $39,000. Blue Trust Inc. increased its stake in shares of Nordstrom by 10,045.8% during the second quarter. Blue Trust Inc. now owns 2,435 shares of the specialty retailer’s stock valued at $49,000 after buying an additional 2,411 shares during the period. Finally, Point72 Hong Kong Ltd purchased a new position in shares of Nordstrom during the second quarter valued at $71,000. 88.73% of the stock is 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.