StockNews.com Begins Coverage on Nordstrom (NYSE:JWN)

StockNews.com started coverage on shares of Nordstrom (NYSE:JWN) in a report issued on Saturday morning. The brokerage issued a buy rating on the specialty retailer’s stock.

Several other equities research analysts also recently issued reports on the stock. UBS Group upgraded shares of Nordstrom from a “sell” rating to a “neutral” rating and raised their target price for the company from $14.50 to $24.00 in a research note on Friday, January 10th. Citigroup raised their price objective on Nordstrom from $22.00 to $23.00 and gave the company a “neutral” rating in a research report on Tuesday, November 19th. Telsey Advisory Group reiterated a “market perform” rating and set a $24.00 target price on shares of Nordstrom in a research note on Monday, January 13th. Barclays increased their price target on Nordstrom from $23.00 to $24.00 and gave the company an “equal weight” rating in a research note on Thursday. Finally, Evercore ISI lifted their price objective on shares of Nordstrom from $22.00 to $24.00 and gave the stock an “in-line” rating in a research report on Monday, January 13th. Three investment 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. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $22.17.

Nordstrom Price Performance

NYSE:JWN opened at $24.12 on Friday. Nordstrom has a 52-week low of $16.78 and a 52-week high of $24.99. The company has a market cap of $3.98 billion, a P/E ratio of 15.36 and a beta of 2.52. The company has a debt-to-equity ratio of 2.65, a quick ratio of 0.35 and a current ratio of 1.14. The stock’s 50-day simple moving average is $23.55 and its 200 day simple moving average is $22.81.

Nordstrom (NYSE:JWN) last released its 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 business had revenue of $3.35 billion during the quarter, compared to analysts’ expectations of $3.34 billion. During the same period last year, the business earned $0.25 earnings per share. The firm’s revenue was up 4.6% on a year-over-year basis. As a group, sell-side analysts forecast that Nordstrom will post 1.95 EPS for the current fiscal year.

Nordstrom Dividend Announcement

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in JWN. Venturi Wealth Management LLC increased its position in Nordstrom by 355.9% during the 3rd quarter. Venturi Wealth Management LLC now owns 1,272 shares of the specialty retailer’s stock worth $29,000 after purchasing an additional 993 shares in the last quarter. Point72 Hong Kong Ltd bought a new stake in shares of Nordstrom during the second quarter worth $71,000. Blue Trust Inc. increased its holdings in shares of 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. CWM LLC boosted its holdings in shares of Nordstrom by 28.7% during the 3rd quarter. CWM LLC now owns 3,628 shares of the specialty retailer’s stock valued at $82,000 after acquiring an additional 810 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale grew its position in Nordstrom by 70.5% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 5,387 shares of the specialty retailer’s stock worth $112,000 after acquiring an additional 2,227 shares during the last quarter. Institutional investors own 88.73% 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.