Nordstrom (NYSE:JWN) Shares Gap Down to $21.33

Shares of Nordstrom, Inc. (NYSE:JWN) gapped down prior to trading on Thursday . The stock had previously closed at $21.33, but opened at $20.90. Nordstrom shares last traded at $20.91, with a volume of 275,047 shares.

Analyst Ratings Changes

A number of research firms have issued reports on JWN. The Goldman Sachs Group boosted their target price on shares of Nordstrom from $16.00 to $18.00 and gave the company a “neutral” rating in a research note on Wednesday, March 6th. Barclays boosted their price objective on Nordstrom from $15.00 to $18.00 and gave the stock an “underweight” rating in a research report on Friday, May 31st. Piper Sandler raised their target price on Nordstrom from $17.00 to $20.00 and gave the company a “neutral” rating in a research report on Wednesday, March 6th. Evercore ISI lifted their target price on Nordstrom from $17.00 to $19.00 and gave the company an “in-line” rating in a research note on Friday, May 31st. Finally, Telsey Advisory Group reissued a “market perform” rating and issued a $19.00 price target on shares of Nordstrom in a research note on Friday, May 31st. Five analysts have rated the stock with a sell rating, seven have issued a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, Nordstrom presently has a consensus rating of “Hold” and an average target price of $17.42.

Nordstrom Trading Up 0.5 %

The company has a quick ratio of 0.36, a current ratio of 1.03 and a debt-to-equity ratio of 3.13. The firm’s 50-day simple moving average is $20.92 and its 200 day simple moving average is $19.55. The stock has a market capitalization of $3.47 billion, a P/E ratio of 11.60, a PEG ratio of 2.42 and a beta of 2.58.

Nordstrom (NYSE:JWN) last released its earnings results on Thursday, May 30th. The specialty retailer reported ($0.24) EPS for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.16). Nordstrom had a negative return on equity of 26.45% and a negative net margin of 1.35%. The business had revenue of $3.34 billion during the quarter, compared to the consensus estimate of $3.19 billion. During the same quarter in the previous year, the firm earned $0.07 earnings per share. The firm’s revenue for the quarter was up 4.8% compared to the same quarter last year. Equities research analysts anticipate that Nordstrom, Inc. will post 1.79 EPS for the current fiscal year.

Nordstrom Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 19th. Shareholders of record on Tuesday, June 4th were paid a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 3.58%. The ex-dividend date of this dividend was Tuesday, June 4th. Nordstrom’s dividend payout ratio is presently 41.53%.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. increased its position in Nordstrom by 5.7% in the 1st quarter. Vanguard Group Inc. now owns 10,653,007 shares of the specialty retailer’s stock worth $215,936,000 after purchasing an additional 579,001 shares during the last quarter. Victory Capital Management Inc. increased its holdings in Nordstrom by 42.2% in the fourth 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 last quarter. Dimensional Fund Advisors LP raised its position in Nordstrom by 64.0% during the fourth 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 in the last quarter. Schroder Investment Management Group lifted 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 last quarter. Finally, LSV Asset Management grew its position in Nordstrom by 15.2% in the fourth quarter. LSV Asset Management now owns 1,544,496 shares of the specialty retailer’s stock worth $28,496,000 after acquiring an additional 203,807 shares in the last quarter. 88.73% of the stock is owned by hedge funds and other 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.