Nordstrom (NYSE:JWN) Price Target Increased to $23.00 by Analysts at Telsey Advisory Group

Nordstrom (NYSE:JWN) had its price target upped by Telsey Advisory Group from $19.00 to $23.00 in a research note released on Tuesday, MarketBeat reports. Telsey Advisory Group currently has a market perform rating on the specialty retailer’s stock.

A number of other research firms also recently commented on JWN. Evercore ISI lifted their target price on Nordstrom from $17.00 to $19.00 and gave the stock an in-line rating in a report on Friday, May 31st. Barclays upped their price objective on shares of Nordstrom from $15.00 to $18.00 and gave the company an underweight rating in a report on Friday, May 31st. StockNews.com raised shares of Nordstrom from a hold rating to a buy rating in a report on Wednesday, July 3rd. JPMorgan Chase & Co. upped their price target on shares of Nordstrom from $15.00 to $17.00 and gave the company an underweight rating in a report on Friday, May 17th. Finally, Bank of America lifted their price objective on Nordstrom from $15.00 to $18.00 and gave the company an underperform rating in a research note on Friday, May 31st. Five equities research analysts have rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, Nordstrom has an average rating of Hold and an average target price of $17.75.

Nordstrom Stock Performance

JWN opened at $23.39 on Tuesday. The company has a market cap of $3.83 billion, a P/E ratio of 12.78, a price-to-earnings-growth ratio of 2.51 and a beta of 2.62. The company has a quick ratio of 0.36, a current ratio of 1.03 and a debt-to-equity ratio of 3.13. The firm’s 50-day moving average price is $21.31 and its 200-day moving average price is $19.77. Nordstrom has a 52-week low of $12.88 and a 52-week high of $23.54.

Nordstrom (NYSE:JWN) last posted its quarterly earnings results on Thursday, May 30th. The specialty retailer reported ($0.24) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.16). The company had revenue of $3.34 billion during the quarter, compared to analysts’ expectations of $3.19 billion. Nordstrom had a negative return on equity of 26.45% and a negative net margin of 1.35%. The company’s quarterly revenue was up 4.8% on a year-over-year basis. During the same period in the prior year, the business posted $0.07 EPS. As a group, equities analysts anticipate that Nordstrom will post 1.79 EPS for the current fiscal year.

Nordstrom Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 19th. Investors of record on Tuesday, June 4th were paid a $0.19 dividend. The ex-dividend date was Tuesday, June 4th. This represents a $0.76 dividend on an annualized basis and a yield of 3.25%. Nordstrom’s dividend payout ratio is currently 41.53%.

Hedge Funds Weigh In On Nordstrom

A number of large investors have recently added to or reduced their stakes in JWN. Garde Capital Inc. increased its stake in shares of Nordstrom by 33.6% during the first quarter. Garde Capital Inc. now owns 37,308 shares of the specialty retailer’s stock worth $756,000 after purchasing an additional 9,376 shares in the last quarter. EMC Capital Management purchased a new stake in shares of Nordstrom in the first quarter valued at about $186,000. Comerica Bank increased its holdings in shares of Nordstrom by 59.9% during the 1st quarter. Comerica Bank now owns 75,806 shares of the specialty retailer’s stock worth $1,537,000 after buying an additional 28,411 shares during the last quarter. Tidal Investments LLC acquired a new stake in Nordstrom during the first quarter worth $419,000. Finally, BOKF NA increased its position in shares of Nordstrom by 7.9% during the 1st quarter. BOKF NA now owns 121,455 shares of the specialty retailer’s stock worth $2,449,000 after purchasing an additional 8,871 shares during the last quarter. 88.73% of the stock is currently owned by institutional investors and hedge funds.

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.