Nordstrom, Inc. (NYSE:JWN) Given Average Rating of “Reduce” by Analysts

Shares of Nordstrom, Inc. (NYSE:JWN) have received an average recommendation of “Reduce” from the eleven brokerages that are presently covering the firm, Marketbeat reports. Five equities research analysts have rated the stock with a sell recommendation, five have given a hold recommendation and one has given a buy recommendation to the company. The average 1-year price objective among analysts that have covered the stock in the last year is $16.69.

A number of research firms recently issued reports on JWN. Telsey Advisory Group reiterated a “market perform” rating and issued a $19.00 target price on shares of Nordstrom in a research note on Friday, May 24th. Piper Sandler raised their target price on shares of Nordstrom from $17.00 to $20.00 and gave the company a “neutral” rating in a research note on Wednesday, March 6th. Citigroup lowered their target price on shares of Nordstrom from $21.00 to $20.00 and set a “neutral” rating on the stock in a research note on Wednesday, March 6th. StockNews.com upgraded shares of Nordstrom from a “hold” rating to a “buy” rating in a research note on Thursday, March 14th. Finally, Barclays raised their price target on shares of Nordstrom from $14.00 to $15.00 and gave the stock an “underweight” rating in a research report on Wednesday, March 6th.

Hedge Funds Weigh In On Nordstrom

A number of hedge funds and other institutional investors have recently made changes to their positions in JWN. Norges Bank bought a new position in shares of Nordstrom during the 4th quarter worth about $23,572,000. Cooper Creek Partners Management LLC lifted its holdings in 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 purchasing an additional 1,163,437 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in 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 purchasing an additional 1,104,604 shares during the last quarter. Victory Capital Management Inc. lifted its holdings 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 valued at $60,675,000 after purchasing an additional 975,918 shares during the last quarter. Finally, Schroder Investment Management Group lifted its holdings in 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 purchasing an additional 820,390 shares during the last quarter. 88.73% of the stock is owned by institutional investors.

Nordstrom Stock Performance

Shares of JWN opened at $21.50 on Friday. The company’s fifty day moving average is $19.86 and its 200-day moving average is $18.61. Nordstrom has a 12 month low of $12.88 and a 12 month high of $23.53. The firm has a market cap of $3.51 billion, a price-to-earnings ratio of 26.88, a price-to-earnings-growth ratio of 2.44 and a beta of 2.59. The company has a quick ratio of 0.41, a current ratio of 1.02 and a debt-to-equity ratio of 3.08.

Nordstrom (NYSE:JWN) last announced its quarterly 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 net margin of 0.91% and a return on equity of 49.30%. The company had revenue of $4.29 billion for the quarter, compared to analyst estimates of $4.38 billion. During the same quarter in the prior year, the business posted $0.74 EPS. Nordstrom’s quarterly revenue was up 2.2% on a year-over-year basis. Equities analysts expect that Nordstrom will post 1.8 EPS for the current fiscal year.

Nordstrom Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 19th. Stockholders of record on Tuesday, June 4th will be issued a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 3.53%. The ex-dividend date of this dividend is Tuesday, June 4th. Nordstrom’s payout ratio is 95.00%.

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.