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 dividend on an annualized basis 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% annually over the last three years. Nordstrom has a dividend payout ratio of 37.4% meaning 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

Nordstrom stock opened at $22.71 on Monday. The business’s 50 day simple moving average is $22.85 and its 200 day simple moving average is $22.25. Nordstrom has a 12 month low of $15.08 and a 12 month high of $24.99. The company has a market cap of $3.73 billion, a price-to-earnings ratio of 14.47 and a beta of 2.59. The company has a current ratio of 1.14, a quick ratio of 0.41 and a debt-to-equity ratio of 2.65.

Nordstrom (NYSE:JWN) last issued its quarterly 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 firm had revenue of $3.35 billion for the quarter, compared to analysts’ expectations of $3.34 billion. During the same quarter in the prior year, the firm earned $0.25 EPS. The business’s revenue for the quarter was up 4.6% compared to the same quarter last year. Sell-side analysts forecast that Nordstrom will post 1.93 EPS for the current year.

Insider Buying and Selling at Nordstrom

In other news, COO Alexis Depree sold 20,000 shares of the stock in a transaction dated Tuesday, September 24th. The stock was sold at an average price of $23.20, for a total transaction of $464,000.00. Following the transaction, the chief operating officer now directly owns 169,331 shares in the company, valued at approximately $3,928,479.20. This represents a 10.56 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 5.78% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Bank of America boosted their target price on shares of Nordstrom from $20.00 to $22.00 and gave the company an “underperform” rating in a report on Wednesday, November 27th. JPMorgan Chase & Co. boosted their price objective on Nordstrom from $19.00 to $20.00 and gave the company an “underweight” rating in a research note on Wednesday, August 28th. StockNews.com upgraded Nordstrom from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, November 27th. Evercore ISI lifted their target price on Nordstrom from $20.00 to $22.00 and gave the company an “in-line” rating in a report on Wednesday, November 27th. Finally, The Goldman Sachs Group increased their price target on shares of Nordstrom from $19.00 to $21.00 and gave the stock a “neutral” rating in a report on Wednesday, August 28th. Three analysts have rated the stock with a sell rating, ten have issued a hold rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $21.29.

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.