Nordstrom (NYSE:JWN) Given New $23.00 Price Target at Telsey Advisory Group

Nordstrom (NYSE:JWN) had its price objective hoisted by Telsey Advisory Group from $19.00 to $23.00 in a research note released on Tuesday morning, MarketBeat.com reports. Telsey Advisory Group currently has a market perform rating on the specialty retailer’s stock.

A number of other research analysts have also recently issued reports on JWN. Evercore ISI lifted their price objective on shares of Nordstrom from $17.00 to $19.00 and gave the company an in-line rating in a report on Friday, May 31st. Barclays boosted their price target on shares of Nordstrom from $15.00 to $18.00 and gave the stock an underweight rating in a report on Friday, May 31st. JPMorgan Chase & Co. boosted their price target on shares of Nordstrom from $15.00 to $17.00 and gave the stock an underweight rating in a report on Friday, May 17th. Bank of America boosted their price target on shares of Nordstrom from $15.00 to $18.00 and gave the stock an underperform rating in a report on Friday, May 31st. Finally, StockNews.com upgraded shares of Nordstrom from a hold rating to a buy rating in a report on Wednesday, July 3rd. Five equities research analysts have rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of Hold and a consensus target price of $17.75.

Nordstrom Stock Up 0.3 %

Shares of NYSE JWN opened at $23.47 on Tuesday. The stock has a market capitalization of $3.84 billion, a P/E ratio of 12.83, a P/E/G ratio of 2.51 and a beta of 2.62. The company has a 50-day moving average price of $21.45 and a 200-day moving average price of $19.83. Nordstrom has a 1 year low of $12.88 and a 1 year high of $23.74. The company has a debt-to-equity ratio of 3.13, a current ratio of 1.03 and a quick ratio of 0.36.

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

Nordstrom Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 19th. Stockholders of record on Tuesday, June 4th were given a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 3.24%. The ex-dividend date was Tuesday, June 4th. Nordstrom’s dividend payout ratio (DPR) is currently 41.53%.

Institutional Trading of Nordstrom

Hedge funds and other institutional investors have recently modified their holdings of the business. Premier Path Wealth Partners LLC bought a new stake in shares of Nordstrom in the fourth quarter valued at approximately $1,081,000. Wellington Management Group LLP increased its holdings in Nordstrom by 52.9% during the 3rd quarter. Wellington Management Group LLP now owns 363,690 shares of the specialty retailer’s stock worth $5,434,000 after acquiring an additional 125,877 shares during the period. Norges Bank bought a new stake in Nordstrom during the 4th quarter worth approximately $23,572,000. Capstone Investment Advisors LLC increased its holdings in Nordstrom by 185.0% during the 1st quarter. Capstone Investment Advisors LLC now owns 211,471 shares of the specialty retailer’s stock worth $4,287,000 after acquiring an additional 137,271 shares during the period. Finally, Boulder Hill Capital Management LP bought a new stake in Nordstrom during the 4th quarter worth approximately $2,065,000. 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.