Nordstrom, Inc. (NYSE:JWN) Receives $16.54 Consensus Target Price from Brokerages

Nordstrom, Inc. (NYSE:JWN) has been given a consensus rating of “Reduce” by the eleven research firms that are currently covering the company, Marketbeat.com reports. Five investment analysts have rated the stock with a sell recommendation, five have assigned a hold recommendation and one has assigned a buy recommendation to the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $16.54.

A number of equities research analysts have commented on JWN shares. Piper Sandler increased their price objective on shares of Nordstrom from $17.00 to $20.00 and gave the stock a “neutral” rating in a report on Wednesday, March 6th. Jefferies Financial Group reissued a “hold” rating and set a $17.00 price target (down from $18.00) on shares of Nordstrom in a research note on Thursday, March 7th. StockNews.com upgraded 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 objective on Nordstrom from $16.00 to $18.00 and gave the company a “neutral” rating in a research report on Wednesday, March 6th. Finally, Bank of America lifted their target price on Nordstrom from $13.00 to $15.00 and gave the company an “underperform” rating in a research note on Wednesday, March 6th.

Hedge Funds Weigh In On Nordstrom

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Norges Bank acquired a new stake in shares of Nordstrom in the 4th quarter valued at approximately $23,572,000. Cooper Creek Partners Management LLC increased its stake in Nordstrom by 42.4% in the third quarter. Cooper Creek Partners Management LLC now owns 3,908,377 shares of the specialty retailer’s stock valued at $58,391,000 after purchasing an additional 1,163,437 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in Nordstrom by 64.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,829,662 shares of the specialty retailer’s stock worth $52,212,000 after purchasing an additional 1,104,604 shares during the period. Victory Capital Management Inc. raised its stake in Nordstrom by 42.2% during the 4th quarter. Victory Capital Management Inc. now owns 3,288,612 shares of the specialty retailer’s stock worth $60,675,000 after buying an additional 975,918 shares during the period. Finally, Schroder Investment Management Group grew its stake in Nordstrom by 44.9% in the fourth 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 period. Institutional investors own 88.73% of the company’s stock.

Nordstrom Stock Up 0.6 %

NYSE JWN opened at $20.10 on Tuesday. The stock’s 50 day simple moving average is $19.11 and its 200 day simple moving average is $17.72. Nordstrom has a one year low of $12.88 and a one year high of $23.53. The firm has a market cap of $3.28 billion, a PE ratio of 25.13, a price-to-earnings-growth ratio of 2.26 and a beta of 2.59. The company has a debt-to-equity ratio of 3.08, a current ratio of 1.02 and a quick ratio of 0.41.

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

Nordstrom Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 27th. Investors of record on Tuesday, March 12th were issued a $0.19 dividend. The ex-dividend date was Monday, March 11th. This represents a $0.76 dividend on an annualized basis and a yield of 3.78%. Nordstrom’s dividend payout ratio is presently 95.00%.

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.