Nordstrom (NYSE:JWN) Research Coverage Started at StockNews.com

StockNews.com initiated coverage on shares of Nordstrom (NYSE:JWN) in a research note released on Friday morning. The brokerage issued a buy rating on the specialty retailer’s stock.

A number of other analysts also recently issued reports on JWN. Argus downgraded shares of Nordstrom from a “buy” rating to a “sell” rating in a report on Monday, December 30th. UBS Group upgraded shares of Nordstrom from a “sell” rating to a “neutral” rating and upped their target price for the company from $14.50 to $24.00 in a research report on Friday, January 10th. Barclays upped their target price on shares of Nordstrom from $23.00 to $24.00 and gave the company an “equal weight” rating in a research report on Thursday, January 16th. Citigroup upped their target price on shares of Nordstrom from $22.00 to $23.00 and gave the company a “neutral” rating in a research report on Tuesday, November 19th. Finally, Bank of America upped their target price on shares of Nordstrom from $20.00 to $22.00 and gave the company an “underperform” rating in a research report on Wednesday, November 27th. Three research analysts have rated the stock with a sell rating, nine have given a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $22.90.

Nordstrom Trading Up 0.3 %

Nordstrom stock opened at $24.46 on Friday. The stock has a market cap of $4.04 billion, a P/E ratio of 15.58 and a beta of 2.60. Nordstrom has a fifty-two week low of $16.78 and a fifty-two week high of $24.99. The firm’s fifty day moving average price is $24.24 and its 200-day moving average price is $23.35. The company has a debt-to-equity ratio of 2.65, a quick ratio of 0.35 and a current ratio of 1.14.

Nordstrom (NYSE:JWN) last posted its quarterly earnings results on Tuesday, March 4th. The specialty retailer reported $1.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.90 by $0.20. The business had revenue of $4.32 billion during the quarter, compared to analyst estimates of $4.32 billion. Nordstrom had a negative net margin of 1.57% and a negative return on equity of 18.04%. Equities research analysts forecast that Nordstrom will post 1.97 earnings per share for the current fiscal year.

Nordstrom Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 26th. Shareholders of record on Tuesday, March 11th will be paid a $0.19 dividend. The ex-dividend date is Tuesday, March 11th. This represents a $0.76 dividend on an annualized basis and a yield of 3.11%. Nordstrom’s dividend payout ratio is currently 44.19%.

Hedge Funds Weigh In On Nordstrom

A number of hedge funds have recently added to or reduced their stakes in JWN. Cooper Creek Partners Management LLC boosted its stake in shares of Nordstrom by 11.0% during the fourth quarter. Cooper Creek Partners Management LLC now owns 3,757,847 shares of the specialty retailer’s stock valued at $90,752,000 after purchasing an additional 372,024 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in Nordstrom by 4.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 3,265,322 shares of the specialty retailer’s stock valued at $78,858,000 after acquiring an additional 138,900 shares during the last quarter. American Century Companies Inc. lifted its position in Nordstrom by 18.3% during the fourth quarter. American Century Companies Inc. now owns 2,912,254 shares of the specialty retailer’s stock valued at $70,331,000 after acquiring an additional 450,539 shares during the last quarter. Pentwater Capital Management LP purchased a new stake in Nordstrom during the fourth quarter valued at approximately $61,582,000. Finally, Hennessy Advisors Inc. purchased a new position in shares of Nordstrom in the fourth quarter worth $56,026,000. 88.73% of the stock is currently owned by 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.