Nordstrom, Inc. (NYSE:JWN) Announces Quarterly Dividend of $0.19

Nordstrom, Inc. (NYSE:JWN) declared a quarterly dividend on Wednesday, November 20th,RTT News reports. Stockholders of record on Tuesday, December 3rd will be given a dividend of 0.19 per share by the specialty retailer on Wednesday, December 18th. This represents a $0.76 annualized dividend and a dividend yield of 3.35%. The ex-dividend date is Tuesday, December 3rd.

Nordstrom has raised its dividend payment by an average of 27.1% per year over the last three years. Nordstrom has a dividend payout ratio of 37.4% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Nordstrom to earn $1.98 per share next year, which means the company should continue to be able to cover its $0.76 annual dividend with an expected future payout ratio of 38.4%.

Nordstrom Price Performance

JWN opened at $22.71 on Monday. The company has a debt-to-equity ratio of 2.65, a current ratio of 1.14 and a quick ratio of 0.41. The stock’s 50 day simple moving average is $22.85 and its 200 day simple moving average is $22.25. The firm has a market cap of $3.73 billion, a price-to-earnings ratio of 14.47 and a beta of 2.59. Nordstrom has a 1 year low of $15.08 and a 1 year high of $24.99.

Nordstrom (NYSE:JWN) last issued its earnings results on Tuesday, November 26th. The specialty retailer reported $0.33 EPS for the quarter, topping the consensus estimate of $0.22 by $0.11. Nordstrom had a negative net margin of 1.57% and a negative return on equity of 18.04%. The company had revenue of $3.35 billion for the quarter, compared to the consensus estimate of $3.34 billion. During the same period in the previous year, the firm earned $0.25 earnings per share. The firm’s revenue for the quarter was up 4.6% on a year-over-year basis. As a group, analysts predict that Nordstrom will post 1.93 earnings per share for the current year.

Analyst Upgrades and Downgrades

JWN has been the subject of a number of analyst reports. Bank of America increased their target price on shares of Nordstrom from $20.00 to $22.00 and gave the stock an “underperform” rating in a report on Wednesday, November 27th. Evercore ISI increased their price objective on Nordstrom from $20.00 to $22.00 and gave the stock an “in-line” rating in a report on Wednesday, November 27th. Barclays raised Nordstrom from an “underweight” rating to an “equal weight” rating and boosted their target price for the company from $18.00 to $23.00 in a research note on Thursday, September 5th. TD Cowen raised their price target on Nordstrom from $24.00 to $25.00 and gave the stock a “hold” rating in a research note on Wednesday, August 28th. Finally, The Goldman Sachs Group boosted their price objective on shares of Nordstrom from $19.00 to $21.00 and gave the company a “neutral” rating in a research report on Wednesday, August 28th. Three research analysts have rated the stock with a sell rating, ten have given a hold rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $21.29.

Insider Transactions at Nordstrom

In other news, COO Alexis Depree sold 20,000 shares of Nordstrom stock in a transaction that occurred on Tuesday, September 24th. The shares were sold at an average price of $23.20, for a total transaction of $464,000.00. Following the completion of the transaction, the chief operating officer now directly owns 169,331 shares in the company, valued at approximately $3,928,479.20. This trade represents a 10.56 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 5.78% 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.