UBS Group Issues Positive Forecast for Nordstrom (NYSE:JWN) Stock Price

Nordstrom (NYSE:JWN) had its target price raised by UBS Group from $13.00 to $14.50 in a report released on Wednesday,Benzinga reports. They currently have a sell rating on the specialty retailer’s stock.

Other equities research analysts have also recently issued research reports about the company. Evercore ISI increased their target price on Nordstrom from $20.00 to $22.00 and gave the company an “in-line” rating in a report on Wednesday. KeyCorp cut Nordstrom from an “overweight” rating to a “sector weight” rating in a research report on Thursday, September 26th. Barclays upgraded shares of Nordstrom from an “underweight” rating to an “equal weight” rating and upped their target price for the company from $18.00 to $23.00 in a report on Thursday, September 5th. BMO Capital Markets lifted their price target on shares of Nordstrom from $20.00 to $22.00 and gave the stock a “market perform” rating in a report on Wednesday, August 28th. Finally, Citigroup boosted their price objective on shares of Nordstrom from $22.00 to $23.00 and gave the company a “neutral” rating in a research report on Tuesday, November 19th. Four equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $20.65.

Nordstrom Trading Down 8.1 %

Shares of JWN stock opened at $22.62 on Wednesday. The stock has a market cap of $3.71 billion, a P/E ratio of 13.23 and a beta of 2.59. 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 has a fifty-two week low of $14.80 and a fifty-two week high of $24.99. The business has a fifty day simple moving average of $22.86 and a 200-day simple moving average of $22.23.

Nordstrom (NYSE:JWN) last posted its earnings results on Tuesday, November 26th. The specialty retailer reported $0.33 earnings per share for the quarter, beating the consensus estimate of $0.22 by $0.11. The firm had revenue of $3.35 billion during the quarter, compared to the consensus estimate of $3.34 billion. Nordstrom had a negative net margin of 1.44% and a negative return on equity of 21.26%. The firm’s revenue for the quarter was up 4.6% on a year-over-year basis. During the same period last year, the firm posted $0.25 EPS. On average, analysts forecast that Nordstrom will post 1.91 earnings per share for the current fiscal year.

Nordstrom Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Tuesday, December 3rd will be paid a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 3.36%. The ex-dividend date is Tuesday, December 3rd. Nordstrom’s dividend payout ratio is presently 44.44%.

Insider Buying and Selling

In other Nordstrom news, COO Alexis Depree sold 20,000 shares of the firm’s stock in a transaction dated Tuesday, September 24th. The stock was sold at an average price of $23.20, for a total value of $464,000.00. Following the transaction, the chief operating officer now directly owns 169,331 shares of the company’s stock, valued at $3,928,479.20. This trade represents a 10.56 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 5.78% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Nordstrom

Large investors have recently modified their holdings of the stock. Venturi Wealth Management LLC lifted its position in Nordstrom by 355.9% during the 3rd quarter. Venturi Wealth Management LLC now owns 1,272 shares of the specialty retailer’s stock worth $29,000 after acquiring an additional 993 shares in the last quarter. Atlas Capital Advisors LLC raised its stake in shares of Nordstrom by 101.8% during the second quarter. Atlas Capital Advisors LLC now owns 1,491 shares of the specialty retailer’s stock valued at $32,000 after purchasing an additional 752 shares during the period. Rothschild Investment LLC acquired a new position in shares of Nordstrom during the second quarter worth $39,000. Blue Trust Inc. boosted its stake in shares of 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 purchasing an additional 2,411 shares during the period. Finally, Point72 Hong Kong Ltd acquired a new stake in Nordstrom during the 2nd quarter valued at $71,000. Institutional investors and hedge funds own 88.73% 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.