Nordstrom (NYSE:JWN) Raised to “Neutral” at UBS Group

UBS Group upgraded shares of Nordstrom (NYSE:JWN) from a sell rating to a neutral rating in a research report released on Friday morning, Marketbeat.com reports. UBS Group currently has $24.00 price objective on the specialty retailer’s stock, up from their prior price objective of $14.50.

Several other analysts have also recently issued reports on the stock. Evercore ISI upped their price objective on shares of Nordstrom from $20.00 to $22.00 and gave the company an “in-line” rating in a research note on Wednesday, November 27th. Citigroup upped their price target on Nordstrom from $22.00 to $23.00 and gave the company a “neutral” rating in a research report on Tuesday, November 19th. Bank of America lifted their price objective on Nordstrom from $20.00 to $22.00 and gave the stock an “underperform” rating in a research report on Wednesday, November 27th. StockNews.com began coverage on Nordstrom in a research note on Friday. They issued a “buy” rating for the company. Finally, KeyCorp cut shares of Nordstrom from an “overweight” rating to a “sector weight” rating in a research report on Thursday, September 26th. Three investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $21.92.

Nordstrom Stock Down 0.2 %

JWN opened at $24.03 on Friday. The company has a market cap of $3.97 billion, a PE ratio of 15.31 and a beta of 2.52. Nordstrom has a twelve month low of $16.78 and a twelve month high of $24.99. The company has a 50-day moving average price of $23.41 and a 200 day moving average price of $22.70. The company has a quick ratio of 0.35, a current ratio of 1.14 and a debt-to-equity ratio of 2.65.

Nordstrom (NYSE:JWN) last announced its earnings results on Tuesday, November 26th. The specialty retailer reported $0.33 EPS for the quarter, beating analysts’ consensus estimates of $0.22 by $0.11. Nordstrom had a negative return on equity of 18.04% and a negative net margin of 1.57%. The business had revenue of $3.35 billion during the quarter, compared to analysts’ expectations of $3.34 billion. During the same quarter in the prior year, the firm earned $0.25 earnings per share. The business’s revenue was up 4.6% compared to the same quarter last year. Sell-side analysts expect that Nordstrom will post 1.94 earnings per share for the current fiscal year.

Nordstrom Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 18th. Investors of record on Tuesday, December 3rd were given a dividend of $0.19 per share. The ex-dividend date was Tuesday, December 3rd. This represents a $0.76 dividend on an annualized basis and a dividend yield of 3.16%. Nordstrom’s payout ratio is currently 48.41%.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the company. Venturi Wealth Management LLC grew its stake in shares of Nordstrom by 355.9% in the third quarter. Venturi Wealth Management LLC now owns 1,272 shares of the specialty retailer’s stock valued at $29,000 after buying an additional 993 shares in the last quarter. Point72 Hong Kong Ltd acquired a new stake in Nordstrom during the 2nd quarter worth approximately $71,000. Blue Trust Inc. boosted its position in Nordstrom by 57.7% in the 3rd quarter. Blue Trust Inc. now owns 3,839 shares of the specialty retailer’s stock valued at $81,000 after buying an additional 1,404 shares during the period. CWM LLC grew its stake in shares of Nordstrom by 28.7% in the third quarter. CWM LLC now owns 3,628 shares of the specialty retailer’s stock worth $82,000 after acquiring an additional 810 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale increased its position in shares of Nordstrom by 70.5% during the second quarter. DekaBank Deutsche Girozentrale now owns 5,387 shares of the specialty retailer’s stock worth $112,000 after acquiring an additional 2,227 shares during the period. 88.73% of the stock is currently owned by institutional investors and hedge funds.

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.