Nordstrom (NYSE:JWN) Research Coverage Started at StockNews.com

StockNews.com began coverage on shares of Nordstrom (NYSE:JWN) in a research note released on Thursday morning. The brokerage issued a buy rating on the specialty retailer’s stock.

JWN has been the topic of a number of other research reports. Argus downgraded Nordstrom from a “buy” rating to a “sell” rating in a research note on Monday, December 30th. KeyCorp cut shares of Nordstrom from an “overweight” rating to a “sector weight” rating in a research report on Thursday, September 26th. Barclays raised shares of Nordstrom from an “underweight” rating to an “equal weight” rating and upped their price target for the company from $18.00 to $23.00 in a report on Thursday, September 5th. Evercore ISI lifted their price objective on shares of Nordstrom from $20.00 to $22.00 and gave the stock an “in-line” rating in a research note on Wednesday, November 27th. Finally, Bank of America increased their target price on shares of Nordstrom from $20.00 to $22.00 and gave the company an “underperform” rating in a research note on Wednesday, November 27th. Four analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $21.13.

Nordstrom Stock Performance

JWN stock opened at $24.17 on Thursday. The company has a market capitalization of $3.99 billion, a P/E ratio of 15.40 and a beta of 2.56. The company has a quick ratio of 0.35, a current ratio of 1.14 and a debt-to-equity ratio of 2.65. The company has a 50-day simple moving average of $23.30 and a 200 day simple moving average of $22.61. Nordstrom has a fifty-two week low of $16.63 and a fifty-two week high of $24.99.

Nordstrom (NYSE:JWN) last issued 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 net margin of 1.57% and a negative return on equity of 18.04%. The company had revenue of $3.35 billion during the quarter, compared to analyst estimates of $3.34 billion. During the same period in the prior year, the business posted $0.25 EPS. The business’s revenue for the quarter was up 4.6% compared to the same quarter last year. Sell-side analysts predict that Nordstrom will post 1.94 earnings per share for the current fiscal year.

Nordstrom Dividend Announcement

The company 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 3.14%. The ex-dividend date was Tuesday, December 3rd. Nordstrom’s dividend payout ratio (DPR) is currently 48.41%.

Institutional Trading of Nordstrom

Several hedge funds and other institutional investors have recently modified their holdings of JWN. Verition Fund Management LLC lifted its stake in Nordstrom by 147.4% in the 3rd quarter. Verition Fund Management LLC now owns 1,218,365 shares of the specialty retailer’s stock worth $27,401,000 after acquiring an additional 725,803 shares in the last quarter. American Century Companies Inc. increased its holdings in shares of Nordstrom by 66.2% in the 2nd quarter. American Century Companies Inc. now owns 1,661,227 shares of the specialty retailer’s stock valued at $35,251,000 after purchasing an additional 661,769 shares during the period. Marshall Wace LLP lifted its position in shares of Nordstrom by 38.4% in the second quarter. Marshall Wace LLP now owns 1,479,414 shares of the specialty retailer’s stock worth $31,393,000 after purchasing an additional 410,152 shares in the last quarter. Axiom Advisory LLC boosted its holdings in shares of Nordstrom by 46.0% during the third quarter. Axiom Advisory LLC now owns 1,100,864 shares of the specialty retailer’s stock worth $24,456,000 after purchasing an additional 346,994 shares during the period. Finally, Cyndeo Wealth Partners LLC purchased a new position in Nordstrom during the third quarter valued at approximately $6,248,000. Institutional investors and hedge funds 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.