Brokerages Set Nordstrom, Inc. (NYSE:JWN) Price Target at $17.75

Shares of Nordstrom, Inc. (NYSE:JWN) have been assigned an average rating of “Reduce” from the twelve brokerages that are covering the company, MarketBeat.com reports. Five research analysts have rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating on the company. The average 12-month target price among brokers that have covered the stock in the last year is $17.75.

JWN has been the topic of a number of analyst reports. StockNews.com cut shares of Nordstrom from a “buy” rating to a “hold” rating in a report on Monday. Barclays increased their price objective on Nordstrom from $15.00 to $18.00 and gave the stock an “underweight” rating in a report on Friday, May 31st. Evercore ISI upped their price target on Nordstrom from $17.00 to $19.00 and gave the company an “in-line” rating in a research report on Friday, May 31st. Bank of America boosted their price objective on shares of Nordstrom from $15.00 to $18.00 and gave the company an “underperform” rating in a research note on Friday, May 31st. Finally, Telsey Advisory Group raised their price target on shares of Nordstrom from $19.00 to $23.00 and gave the company a “market perform” rating in a report on Tuesday, July 9th.

Nordstrom Stock Down 2.5 %

Shares of NYSE JWN opened at $23.22 on Friday. The company has a debt-to-equity ratio of 3.13, a current ratio of 1.03 and a quick ratio of 0.36. The stock has a market capitalization of $3.80 billion, a PE ratio of 12.69, a P/E/G ratio of 2.72 and a beta of 2.62. Nordstrom has a one year low of $12.88 and a one year high of $24.03. The business’s fifty day moving average price is $21.71 and its 200-day moving average price is $19.96.

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

Nordstrom Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 19th. Investors of record on Tuesday, June 4th were given a $0.19 dividend. The ex-dividend date was Tuesday, June 4th. This represents a $0.76 annualized dividend and a yield of 3.27%. Nordstrom’s dividend payout ratio (DPR) is presently 41.53%.

Institutional Investors Weigh In On Nordstrom

Several institutional investors have recently modified their holdings of JWN. Norges Bank bought a new stake in Nordstrom in the 4th quarter worth approximately $23,572,000. Dimensional Fund Advisors LP boosted its stake in shares of Nordstrom by 64.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,829,662 shares of the specialty retailer’s stock worth $52,212,000 after buying an additional 1,104,604 shares during the last quarter. Victory Capital Management Inc. grew its holdings in shares of 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 acquiring an additional 975,918 shares during the period. Schroder Investment Management Group increased its position in Nordstrom by 44.9% during 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, Vanguard Group Inc. lifted its holdings in Nordstrom by 5.7% in the first quarter. Vanguard Group Inc. now owns 10,653,007 shares of the specialty retailer’s stock valued at $215,936,000 after acquiring an additional 579,001 shares during the period. 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.