Nordstrom (NYSE:JWN) Stock Price Up 4.2% – Still a Buy?

Shares of Nordstrom, Inc. (NYSE:JWN) were up 4.2% during trading on Tuesday . The stock traded as high as $24.01 and last traded at $23.88. Approximately 911,465 shares traded hands during mid-day trading, a decline of 72% from the average daily volume of 3,200,628 shares. The stock had previously closed at $22.91.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on JWN. TD Cowen lifted their target price on Nordstrom from $24.00 to $25.00 and gave the stock a “hold” rating in a report on Wednesday, August 28th. Bank of America raised their target price on shares of Nordstrom from $18.00 to $20.00 and gave the company an “underperform” rating in a report on Wednesday, August 28th. JPMorgan Chase & Co. increased their price target on shares of Nordstrom from $19.00 to $20.00 and gave the company an “underweight” rating in a report on Wednesday, August 28th. KeyCorp cut Nordstrom from an “overweight” rating to a “sector weight” rating in a research note on Thursday, September 26th. Finally, The Goldman Sachs Group raised their price objective on Nordstrom from $19.00 to $21.00 and gave the company a “neutral” rating in a research note on Wednesday, August 28th. Three research analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has given a buy rating to the company. According to data from MarketBeat, Nordstrom presently has an average rating of “Hold” and an average target price of $20.23.

Nordstrom Stock Performance

The firm has a 50 day moving average of $22.18 and a 200-day moving average of $21.38. The company has a market cap of $3.94 billion, a P/E ratio of 12.52 and a beta of 2.60. The company has a quick ratio of 0.41, a current ratio of 1.07 and a debt-to-equity ratio of 2.76.

Nordstrom (NYSE:JWN) last announced its quarterly earnings results on Tuesday, August 27th. The specialty retailer reported $0.96 EPS for the quarter, beating the consensus estimate of $0.71 by $0.25. Nordstrom had a negative return on equity of 21.26% and a negative net margin of 1.44%. The firm had revenue of $3.89 billion for the quarter, compared to analyst estimates of $3.88 billion. During the same quarter last year, the firm posted $0.84 earnings per share. The business’s revenue for the quarter was up 3.2% on a year-over-year basis. As a group, sell-side analysts anticipate that Nordstrom, Inc. will post 1.89 EPS for the current fiscal year.

Nordstrom Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 18th. Stockholders of record on Tuesday, September 3rd were paid a dividend of $0.19 per share. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $0.76 dividend on an annualized basis and a dividend yield of 3.16%. Nordstrom’s dividend payout ratio is presently 41.53%.

Insider Buying and Selling

In other Nordstrom news, COO Alexis Depree sold 20,000 shares of the stock in a transaction on Tuesday, September 24th. The stock was sold at an average price of $23.20, for a total transaction of $464,000.00. Following the sale, the chief operating officer now owns 169,331 shares of the company’s stock, valued at approximately $3,928,479.20. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 5.78% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Nordstrom

Large investors have recently added to or reduced their stakes in the company. Register Financial Advisors LLC purchased a new position in shares of Nordstrom in the 1st quarter worth approximately $30,000. Atlas Capital Advisors LLC boosted its position 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 purchasing an additional 752 shares in the last quarter. Rothschild Investment LLC acquired a new position in Nordstrom during the 2nd quarter valued at about $39,000. Blue Trust Inc. raised its stake in Nordstrom by 10,045.8% in 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 last quarter. Finally, Hexagon Capital Partners LLC boosted its holdings in Nordstrom by 33.1% in the first quarter. Hexagon Capital Partners LLC now owns 2,648 shares of the specialty retailer’s stock worth $54,000 after acquiring an additional 659 shares in the last quarter. 88.73% of the stock is currently owned by 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.