Nordstrom (NYSE:JWN) Coverage Initiated by Analysts at StockNews.com

StockNews.com initiated coverage on shares of Nordstrom (NYSE:JWN) in a research report report published on Saturday. The firm issued a buy rating on the specialty retailer’s stock.

Several other research firms also recently issued reports on JWN. Argus downgraded Nordstrom from a “buy” rating to a “sell” rating in a report on Monday, December 30th. Citigroup upped their price target on Nordstrom from $22.00 to $23.00 and gave the company a “neutral” rating in a research note on Tuesday, November 19th. Bank of America lifted their price objective on Nordstrom from $20.00 to $22.00 and gave the stock an “underperform” rating in a research report on Wednesday, November 27th. Barclays boosted their price objective on Nordstrom from $23.00 to $24.00 and gave the stock an “equal weight” rating in a report on Thursday. Finally, Telsey Advisory Group reiterated a “market perform” rating and set a $24.00 price target on shares of Nordstrom in a research report on Monday, January 13th. Three research analysts have rated the stock with a sell rating, eleven have issued a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, Nordstrom presently has an average rating of “Hold” and an average target price of $22.17.

Nordstrom Trading Down 0.1 %

Shares of JWN opened at $24.12 on Friday. 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 company has a market cap of $3.98 billion, a price-to-earnings ratio of 15.36 and a beta of 2.52. The stock has a fifty day moving average price of $23.55 and a two-hundred day moving average price of $22.81. Nordstrom has a 52-week low of $16.78 and a 52-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 (EPS) for the quarter, topping the consensus estimate of $0.22 by $0.11. The business had revenue of $3.35 billion for the quarter, compared to the consensus estimate of $3.34 billion. Nordstrom had a negative net margin of 1.57% and a negative return on equity of 18.04%. During the same quarter in the prior year, the company earned $0.25 EPS. The firm’s quarterly revenue was up 4.6% on a year-over-year basis. Analysts predict that Nordstrom will post 1.95 EPS for the current fiscal year.

Nordstrom Announces Dividend

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Quantinno Capital Management LP raised its holdings in shares of Nordstrom by 49.3% during the third quarter. Quantinno Capital Management LP now owns 145,146 shares of the specialty retailer’s stock worth $3,264,000 after acquiring an additional 47,923 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in Nordstrom by 17.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,422,856 shares of the specialty retailer’s stock worth $32,000,000 after purchasing an additional 208,193 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of Nordstrom by 29.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 388,796 shares of the specialty retailer’s stock valued at $8,744,000 after purchasing an additional 89,114 shares during the period. Point72 Asset Management L.P. lifted its holdings in shares of Nordstrom by 190.1% in the third quarter. Point72 Asset Management L.P. now owns 59,678 shares of the specialty retailer’s stock valued at $1,342,000 after purchasing an additional 39,104 shares in the last quarter. Finally, Sanctuary Advisors LLC boosted its position in shares of Nordstrom by 160.9% during the third quarter. Sanctuary Advisors LLC now owns 51,071 shares of the specialty retailer’s stock worth $1,187,000 after buying an additional 31,498 shares during the period. 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.