Nordstrom (NYSE:JWN) PT Raised to $32.00 at Deutsche Bank Aktiengesellschaft

Nordstrom (NYSE:JWNGet Rating) had its target price raised by Deutsche Bank Aktiengesellschaft from $31.00 to $32.00 in a research report report published on Wednesday, The Fly reports.

A number of other research firms have also recently weighed in on JWN. Telsey Advisory Group lifted their price target on Nordstrom from $27.00 to $30.00 and gave the company a market perform rating in a report on Wednesday, March 2nd. Zacks Investment Research raised Nordstrom from a hold rating to a buy rating and set a $26.00 price target on the stock in a report on Wednesday, May 18th. JPMorgan Chase & Co. cut their price target on Nordstrom from $24.00 to $22.00 in a report on Monday, May 16th. Cowen lifted their price target on Nordstrom from $25.00 to $30.00 and gave the company a market perform rating in a report on Wednesday, March 2nd. Finally, Citigroup lifted their price target on Nordstrom from $25.00 to $27.00 in a report on Wednesday, March 2nd. Three research analysts have rated the stock with a sell rating, eleven have issued a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Nordstrom currently has a consensus rating of Hold and an average target price of $27.29.

Shares of NYSE JWN opened at $26.56 on Wednesday. The company has a quick ratio of 0.27, a current ratio of 0.96 and a debt-to-equity ratio of 4.91. The firm’s 50-day moving average price is $26.12 and its two-hundred day moving average price is $24.34. Nordstrom has a 52-week low of $18.65 and a 52-week high of $38.48. The stock has a market capitalization of $4.23 billion, a P/E ratio of 25.06, a P/E/G ratio of 1.14 and a beta of 2.25.

Nordstrom (NYSE:JWNGet Rating) last issued its earnings results on Tuesday, May 24th. The specialty retailer reported ($0.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.01). Nordstrom had a return on equity of 70.74% and a net margin of 1.20%. The business had revenue of $3.57 billion during the quarter, compared to the consensus estimate of $3.29 billion. During the same period in the prior year, the business earned ($0.64) EPS. The business’s revenue was up 18.6% on a year-over-year basis. As a group, equities research analysts expect that Nordstrom will post 3.3 earnings per share for the current year.

Nordstrom declared that its board has approved a share repurchase program on Tuesday, May 24th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the specialty retailer to reacquire up to 15.2% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board believes its stock is undervalued.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 15th. Investors of record on Tuesday, May 31st will be paid a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 2.86%. The ex-dividend date is Friday, May 27th. Nordstrom’s dividend payout ratio is 71.70%.

In related news, CFO Anne L. Bramman sold 13,334 shares of the firm’s stock in a transaction that occurred on Monday, April 18th. The shares were sold at an average price of $28.74, for a total value of $383,219.16. Following the completion of the transaction, the chief financial officer now owns 120,137 shares of the company’s stock, valued at approximately $3,452,737.38. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Anne L. Bramman sold 13,333 shares of the firm’s stock in a transaction that occurred on Thursday, May 26th. The stock was sold at an average price of $24.20, for a total transaction of $322,658.60. Following the completion of the transaction, the chief financial officer now directly owns 106,804 shares of the company’s stock, valued at approximately $2,584,656.80. The disclosure for this sale can be found here. Company insiders own 5.45% of the company’s stock.

Several large investors have recently modified their holdings of JWN. BlackRock Inc. boosted its stake in shares of Nordstrom by 22.2% during the 4th quarter. BlackRock Inc. now owns 11,512,934 shares of the specialty retailer’s stock valued at $260,422,000 after buying an additional 2,088,891 shares during the period. Arrowstreet Capital Limited Partnership boosted its stake in shares of Nordstrom by 5,037.3% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 1,891,879 shares of the specialty retailer’s stock valued at $50,040,000 after buying an additional 1,855,053 shares during the period. Renaissance Technologies LLC boosted its stake in shares of Nordstrom by 240.8% during the 1st quarter. Renaissance Technologies LLC now owns 1,988,500 shares of the specialty retailer’s stock valued at $53,908,000 after buying an additional 1,405,000 shares during the period. Marshall Wace LLP acquired a new stake in shares of Nordstrom during the 3rd quarter valued at $36,392,000. Finally, Two Sigma Advisers LP boosted its stake in shares of Nordstrom by 92.9% during the 3rd quarter. Two Sigma Advisers LP now owns 2,806,101 shares of the specialty retailer’s stock valued at $74,221,000 after buying an additional 1,351,700 shares during the period. 57.27% of the stock is owned by institutional investors.

Nordstrom Company Profile (Get Rating)

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; TrunkClub.com; Nordstrom.ca; Nordstrom stores; Nordstrom Rack stores; Nordstrom Locals; Nordstromrack.com and HauteLook; clearance stores under the Last Chance name; Trunk Club clubhouses; and Jeffrey boutiques.

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