Nordstrom, Inc. (NYSE:JWN) Plans Quarterly Dividend of $0.19

Nordstrom, Inc. (NYSE:JWN) announced a quarterly dividend on Wednesday, November 20th,RTT News reports. Investors of record on Tuesday, December 3rd will be given a dividend of 0.19 per share by the specialty retailer on Wednesday, December 18th. This represents a $0.76 annualized dividend and a yield of 3.42%.

Nordstrom has increased its dividend payment by an average of 27.1% per year over the last three years. Nordstrom has a dividend payout ratio of 38.4% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Nordstrom to earn $1.95 per share next year, which means the company should continue to be able to cover its $0.76 annual dividend with an expected future payout ratio of 39.0%.

Nordstrom Stock Performance

Shares of JWN traded down $0.42 during mid-day trading on Wednesday, hitting $22.25. 1,693,204 shares of the company traded hands, compared to its average volume of 3,041,260. The stock has a 50-day moving average price of $22.75 and a two-hundred day moving average price of $22.11. The company has a debt-to-equity ratio of 2.76, a quick ratio of 0.41 and a current ratio of 1.07. The stock has a market cap of $3.65 billion, a price-to-earnings ratio of 13.25 and a beta of 2.59. Nordstrom has a 1 year low of $13.68 and a 1 year high of $24.93.

Nordstrom (NYSE:JWN) last released its quarterly earnings data on Tuesday, August 27th. The specialty retailer reported $0.96 EPS for the quarter, beating the consensus estimate of $0.71 by $0.25. The business had revenue of $3.89 billion during the quarter, compared to analyst estimates of $3.88 billion. Nordstrom had a negative net margin of 1.44% and a negative return on equity of 21.26%. Nordstrom’s quarterly revenue was up 3.2% compared to the same quarter last year. During the same quarter last year, the business earned $0.84 earnings per share. Equities analysts anticipate that Nordstrom will post 1.91 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms recently commented on JWN. Telsey Advisory Group reiterated a “market perform” rating and issued a $24.00 target price on shares of Nordstrom in a research note on Wednesday. The Goldman Sachs Group boosted their price target on shares of Nordstrom from $19.00 to $21.00 and gave the stock a “neutral” rating in a report on Wednesday, August 28th. Bank of America lifted their target price on shares of Nordstrom from $18.00 to $20.00 and gave the stock an “underperform” rating in a research note on Wednesday, August 28th. StockNews.com raised shares of Nordstrom from a “hold” rating to a “buy” rating in a research report on Thursday, August 8th. Finally, KeyCorp cut shares of Nordstrom from an “overweight” rating to a “sector weight” rating in a research report on Thursday, September 26th. Three research analysts have rated the stock with a sell rating, ten have issued a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $20.58.

Insiders Place Their Bets

In related news, COO Alexis Depree sold 20,000 shares of the business’s stock in a transaction dated Tuesday, September 24th. The shares were sold at an average price of $23.20, for a total value of $464,000.00. Following the completion of the transaction, the chief operating officer now owns 169,331 shares of the company’s stock, valued at approximately $3,928,479.20. The trade was a 10.56 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 5.78% of the company’s stock.

About Nordstrom

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.