Nordstrom (NYSE:JWN) Receives “Market Perform” Rating from Telsey Advisory Group

Telsey Advisory Group reiterated their market perform rating on shares of Nordstrom (NYSE:JWN) in a report published on Friday morning, Benzinga reports. They currently have a $19.00 price target on the specialty retailer’s stock.

A number of other equities analysts have also commented on the stock. Jefferies Financial Group reissued a hold rating and issued a $17.00 price target (down previously from $18.00) on shares of Nordstrom in a report on Thursday, March 7th. Barclays upped their price objective on shares of Nordstrom from $14.00 to $15.00 and gave the company an underweight rating in a research note on Wednesday, March 6th. StockNews.com raised shares of Nordstrom from a hold rating to a buy rating in a research report on Thursday, March 14th. The Goldman Sachs Group increased their price target on shares of Nordstrom from $16.00 to $18.00 and gave the company a neutral rating in a research report on Wednesday, March 6th. Finally, Piper Sandler increased their price target on shares of Nordstrom from $17.00 to $20.00 and gave the company a neutral rating in a research report on Wednesday, March 6th. Five investment analysts have rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, Nordstrom currently has an average rating of Hold and a consensus price target of $16.54.

Nordstrom Stock Performance

NYSE JWN opened at $18.79 on Friday. The company’s 50 day moving average is $19.22 and its 200-day moving average is $17.43. Nordstrom has a 12-month low of $12.88 and a 12-month high of $23.53. The company has a quick ratio of 0.41, a current ratio of 1.02 and a debt-to-equity ratio of 3.08. The firm has a market cap of $3.07 billion, a P/E ratio of 23.49, a price-to-earnings-growth ratio of 2.14 and a beta of 2.59.

Nordstrom (NYSE:JWN) last posted its earnings results on Tuesday, March 5th. The specialty retailer reported $0.96 earnings per share for the quarter, topping analysts’ consensus estimates of $0.90 by $0.06. The business had revenue of $4.29 billion for the quarter, compared to analyst estimates of $4.38 billion. Nordstrom had a net margin of 0.91% and a return on equity of 49.30%. Nordstrom’s revenue was up 2.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.74 EPS. Sell-side analysts predict that Nordstrom will post 1.81 earnings per share for the current year.

Nordstrom Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 27th. Shareholders of record on Tuesday, March 12th were paid a dividend of $0.19 per share. The ex-dividend date was Monday, March 11th. This represents a $0.76 dividend on an annualized basis and a yield of 4.04%. Nordstrom’s dividend payout ratio is currently 95.00%.

Institutional Trading of Nordstrom

A number of institutional investors and hedge funds have recently bought and sold shares of JWN. Norges Bank bought a new stake in Nordstrom during the 4th quarter valued at about $23,572,000. Cooper Creek Partners Management LLC boosted its holdings in shares of Nordstrom by 42.4% during the 3rd quarter. Cooper Creek Partners Management LLC now owns 3,908,377 shares of the specialty retailer’s stock valued at $58,391,000 after acquiring an additional 1,163,437 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Nordstrom by 64.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,829,662 shares of the specialty retailer’s stock valued at $52,212,000 after acquiring an additional 1,104,604 shares during the last quarter. Victory Capital Management Inc. boosted its holdings in shares of Nordstrom by 42.2% during the 4th quarter. Victory Capital Management Inc. now owns 3,288,612 shares of the specialty retailer’s stock valued at $60,675,000 after acquiring an additional 975,918 shares during the last quarter. Finally, Schroder Investment Management Group boosted its holdings in shares of Nordstrom by 44.9% during the 4th quarter. Schroder Investment Management Group now owns 2,648,637 shares of the specialty retailer’s stock valued at $48,867,000 after acquiring an additional 820,390 shares during the last quarter. 88.73% of the stock is currently owned by institutional investors.

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.