Nordstrom (NYSE:JWN) Now Covered by StockNews.com

StockNews.com assumed coverage on shares of Nordstrom (NYSE:JWN) in a research report released on Thursday morning. The brokerage issued a buy rating on the specialty retailer’s stock.

A number of other equities research analysts have also recently issued reports on JWN. KeyCorp cut shares of Nordstrom from an “overweight” rating to a “sector weight” rating in a report on Thursday, September 26th. Bank of America boosted their price target on Nordstrom from $20.00 to $22.00 and gave the stock an “underperform” rating in a research report on Wednesday, November 27th. UBS Group increased their price objective on Nordstrom from $13.00 to $14.50 and gave the company a “sell” rating in a report on Wednesday, November 27th. Barclays raised Nordstrom from an “underweight” rating to an “equal weight” rating and raised their price objective for the company from $18.00 to $23.00 in a research note on Thursday, September 5th. Finally, Citigroup upped their target price on Nordstrom from $22.00 to $23.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 19th. Four 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. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $21.13.

Nordstrom Stock Up 0.1 %

JWN opened at $24.17 on Thursday. The company has a market capitalization of $3.99 billion, a PE ratio of 15.40 and a beta of 2.56. The company has a debt-to-equity ratio of 2.65, a current ratio of 1.14 and a quick ratio of 0.35. Nordstrom has a fifty-two week low of $16.63 and a fifty-two week high of $24.99. The business has a 50-day moving average of $23.30 and a 200-day moving average of $22.61.

Nordstrom (NYSE:JWN) last issued its quarterly earnings data 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 for the quarter, compared to analyst estimates of $3.34 billion. Nordstrom had a negative net margin of 1.57% and a negative return on equity of 18.04%. The company’s revenue for the quarter was up 4.6% on a year-over-year basis. During the same quarter last year, the firm earned $0.25 earnings per share. Equities research analysts forecast that Nordstrom will post 1.94 EPS for the current fiscal year.

Nordstrom Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 18th. Stockholders of record on Tuesday, December 3rd were given a $0.19 dividend. The ex-dividend date of this dividend was Tuesday, December 3rd. This represents a $0.76 annualized dividend and a dividend yield of 3.14%. Nordstrom’s dividend payout ratio is 48.41%.

Hedge Funds Weigh In On Nordstrom

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Venturi Wealth Management LLC boosted its holdings in Nordstrom by 355.9% in the 3rd quarter. Venturi Wealth Management LLC now owns 1,272 shares of the specialty retailer’s stock valued at $29,000 after purchasing an additional 993 shares during the period. Rothschild Investment LLC bought a new stake in shares of Nordstrom in the second quarter valued at about $39,000. Point72 Hong Kong Ltd acquired a new stake in Nordstrom during the second quarter worth about $71,000. Blue Trust Inc. increased its stake in Nordstrom by 57.7% during the third quarter. Blue Trust Inc. now owns 3,839 shares of the specialty retailer’s stock valued at $81,000 after acquiring an additional 1,404 shares during the period. Finally, CWM LLC increased its stake in Nordstrom by 28.7% during the third quarter. CWM LLC now owns 3,628 shares of the specialty retailer’s stock valued at $82,000 after acquiring an additional 810 shares during the period. Institutional investors 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.