Nordstrom (NYSE:JWN) Stock Price Down 4.5%

Nordstrom, Inc. (NYSE:JWN) shares fell 4.5% during mid-day trading on Monday . The company traded as low as $18.14 and last traded at $18.20. 1,593,504 shares changed hands during mid-day trading, a decline of 64% from the average session volume of 4,463,692 shares. The stock had previously closed at $19.06.

Analysts Set New Price Targets

A number of research firms have issued reports on JWN. StockNews.com raised Nordstrom from a “hold” rating to a “buy” rating in a report on Thursday, March 14th. Jefferies Financial Group reissued a “hold” rating and set a $17.00 price objective (down previously from $18.00) on shares of Nordstrom in a report on Thursday, March 7th. The Goldman Sachs Group lifted their price objective on Nordstrom from $16.00 to $18.00 and gave the stock a “neutral” rating in a report on Wednesday, March 6th. Citigroup decreased their price objective on Nordstrom from $21.00 to $20.00 and set a “neutral” rating on the stock in a report on Wednesday, March 6th. Finally, JPMorgan Chase & Co. lifted their price objective on Nordstrom from $14.00 to $15.00 and gave the stock an “underweight” rating in a report on Wednesday, March 6th. Five analysts have rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $16.54.

Nordstrom Trading Down 0.3 %

The company has a 50 day moving average of $19.26 and a 200 day moving average of $17.31. The company has a current ratio of 1.02, a quick ratio of 0.41 and a debt-to-equity ratio of 3.08. The firm has a market cap of $2.89 billion, a price-to-earnings ratio of 22.14, a price-to-earnings-growth ratio of 2.01 and a beta of 2.59.

Nordstrom (NYSE:JWN) last announced its quarterly earnings results on Tuesday, March 5th. The specialty retailer reported $0.96 EPS for the quarter, beating the consensus estimate of $0.90 by $0.06. The business had revenue of $4.29 billion for the quarter, compared to analyst estimates of $4.38 billion. Nordstrom had a return on equity of 49.30% and a net margin of 0.91%. Nordstrom’s quarterly revenue was up 2.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.74 EPS. As a group, research analysts anticipate that Nordstrom, Inc. will post 1.81 EPS for the current year.

Nordstrom Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 27th. Shareholders of record on Tuesday, March 12th were paid a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 4.29%. The ex-dividend date of this dividend was Monday, March 11th. Nordstrom’s dividend payout ratio is currently 95.00%.

Hedge Funds Weigh In On Nordstrom

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. boosted its stake in Nordstrom by 1.3% in the third quarter. Vanguard Group Inc. now owns 10,459,699 shares of the specialty retailer’s stock worth $174,992,000 after purchasing an additional 131,102 shares in the last quarter. BlackRock Inc. boosted its stake in Nordstrom by 1.8% in the second quarter. BlackRock Inc. now owns 10,184,495 shares of the specialty retailer’s stock worth $208,477,000 after purchasing an additional 182,466 shares in the last quarter. State Street Corp boosted its stake in Nordstrom by 70.0% in the second quarter. State Street Corp now owns 8,640,239 shares of the specialty retailer’s stock worth $176,866,000 after purchasing an additional 3,556,576 shares in the last quarter. Cooper Creek Partners Management LLC boosted its stake in Nordstrom by 42.4% in the third quarter. Cooper Creek Partners Management LLC now owns 3,908,377 shares of the specialty retailer’s stock worth $58,391,000 after purchasing an additional 1,163,437 shares in the last quarter. Finally, Victory Capital Management Inc. boosted its stake in 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 purchasing an additional 975,918 shares in the last quarter. Institutional investors and hedge funds own 88.73% of the company’s stock.

Nordstrom Company Profile

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.