Nordstrom, Inc. (NYSE:JWN) Receives $20.23 Average Target Price from Brokerages

Nordstrom, Inc. (NYSE:JWN) has earned a consensus rating of “Reduce” from the thirteen analysts that are covering the company, Marketbeat Ratings reports. Three research analysts have rated the stock with a sell recommendation and ten have assigned a hold recommendation to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $20.23.

JWN has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. boosted their target price on shares of Nordstrom from $19.00 to $20.00 and gave the company an “underweight” rating in a report on Wednesday, August 28th. The Goldman Sachs Group lifted their price target on shares of Nordstrom from $19.00 to $21.00 and gave the company a “neutral” rating in a report on Wednesday, August 28th. TD Cowen upped their price objective 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 boosted their price target on Nordstrom from $18.00 to $20.00 and gave the company an “underperform” rating in a research report on Wednesday, August 28th. Finally, Barclays upgraded Nordstrom from an “underweight” rating to an “equal weight” rating and raised their price objective for the stock from $18.00 to $23.00 in a report on Thursday, September 5th.

Insider Activity

In related news, COO Alexis Depree sold 20,000 shares of Nordstrom stock in a transaction on Tuesday, September 24th. The shares were 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. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 5.78% of the company’s stock.

Institutional Investors Weigh In On Nordstrom

A number of hedge funds have recently bought and sold shares of the business. Register Financial Advisors LLC purchased a new position in shares of Nordstrom during the 1st quarter valued at approximately $30,000. Atlas Capital Advisors LLC grew its holdings in Nordstrom by 101.8% during the 2nd quarter. Atlas Capital Advisors LLC now owns 1,491 shares of the specialty retailer’s stock worth $32,000 after acquiring an additional 752 shares in the last quarter. Rothschild Investment LLC bought a new stake in shares of Nordstrom in the 2nd quarter worth about $39,000. Blue Trust Inc. raised its stake in shares of Nordstrom by 10,045.8% in the 2nd quarter. Blue Trust Inc. now owns 2,435 shares of the specialty retailer’s stock valued at $49,000 after purchasing an additional 2,411 shares in the last quarter. Finally, Hexagon Capital Partners LLC raised its stake in shares of Nordstrom by 33.1% in the 1st quarter. Hexagon Capital Partners LLC now owns 2,648 shares of the specialty retailer’s stock valued at $54,000 after purchasing an additional 659 shares in the last quarter. Institutional investors and hedge funds own 88.73% of the company’s stock.

Nordstrom Trading Down 3.5 %

Shares of Nordstrom stock opened at $21.70 on Friday. Nordstrom has a fifty-two week low of $12.88 and a fifty-two week high of $24.03. The business’s fifty day moving average is $22.15 and its two-hundred day moving average is $21.16. The company has a quick ratio of 0.41, a current ratio of 1.07 and a debt-to-equity ratio of 2.76. The firm has a market cap of $3.55 billion, a PE ratio of 11.86 and a beta of 2.61.

Nordstrom (NYSE:JWN) last released its earnings results on Tuesday, August 27th. The specialty retailer reported $0.96 earnings per share for the quarter, topping the consensus estimate of $0.71 by $0.25. The firm had revenue of $3.89 billion for the quarter, compared to the consensus estimate of $3.88 billion. Nordstrom had a negative return on equity of 21.26% and a negative net margin of 1.44%. The firm’s revenue for the quarter was up 3.2% compared to the same quarter last year. During the same period in the prior year, the business posted $0.84 earnings per share. Analysts anticipate that Nordstrom will post 1.9 earnings per share for the current year.

Nordstrom Dividend Announcement

The company 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 3.50%. Nordstrom’s dividend payout ratio is currently 41.53%.

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.