Nordstrom, Inc. (NYSE:JWN) Receives Average Rating of “Reduce” from Brokerages

Nordstrom, Inc. (NYSE:JWN) has been assigned an average rating of “Reduce” from the twelve brokerages that are presently covering the stock, MarketBeat Ratings reports. Five analysts have rated the stock with a sell recommendation, six have assigned a hold recommendation and one has given a buy recommendation to the company. The average 1-year target price among brokers that have covered the stock in the last year is $17.42.

A number of equities research analysts have recently commented on JWN shares. The Goldman Sachs Group upped their target price on shares of Nordstrom from $16.00 to $18.00 and gave the company a “neutral” rating in a report on Wednesday, March 6th. Barclays upped their target price on shares of Nordstrom from $15.00 to $18.00 and gave the company an “underweight” rating in a report on Friday, May 31st. Piper Sandler upped their target price on shares of Nordstrom from $17.00 to $20.00 and gave the company a “neutral” rating in a report on Wednesday, March 6th. StockNews.com cut shares of Nordstrom from a “buy” rating to a “hold” rating in a report on Saturday, June 15th. Finally, Jefferies Financial Group reaffirmed a “hold” rating and issued a $17.00 target price (down from $18.00) on shares of Nordstrom in a report on Thursday, March 7th.

Nordstrom Stock Up 0.5 %

Shares of NYSE JWN opened at $21.30 on Wednesday. The firm has a market cap of $3.49 billion, a price-to-earnings ratio of 11.64, a PEG ratio of 2.43 and a beta of 2.58. The company has a quick ratio of 0.36, a current ratio of 1.03 and a debt-to-equity ratio of 3.13. Nordstrom has a 52-week low of $12.88 and a 52-week high of $23.54. The business’s 50 day moving average is $20.62 and its two-hundred day moving average is $19.43.

Nordstrom (NYSE:JWN) last announced its earnings results on Thursday, May 30th. The specialty retailer reported ($0.24) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.16). The firm had revenue of $3.34 billion during the quarter, compared to analysts’ expectations of $3.19 billion. Nordstrom had a negative net margin of 1.35% and a negative return on equity of 26.45%. The firm’s revenue for the quarter was up 4.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.07 EPS. Research analysts predict that Nordstrom will post 1.79 EPS for the current year.

Nordstrom Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 19th. Shareholders of record on Tuesday, June 4th were given a dividend of $0.19 per share. The ex-dividend date was Tuesday, June 4th. This represents a $0.76 annualized dividend and a yield of 3.57%. Nordstrom’s payout ratio is currently 41.53%.

Institutional Trading of Nordstrom

Several large investors have recently modified their holdings of the business. CANADA LIFE ASSURANCE Co grew its position in shares of Nordstrom by 0.6% in the first quarter. CANADA LIFE ASSURANCE Co now owns 90,144 shares of the specialty retailer’s stock valued at $1,828,000 after purchasing an additional 520 shares during the last quarter. State of Michigan Retirement System grew its position in shares of Nordstrom by 2.6% in the first quarter. State of Michigan Retirement System now owns 23,908 shares of the specialty retailer’s stock valued at $485,000 after purchasing an additional 600 shares during the last quarter. Personal CFO Solutions LLC grew its position in shares of Nordstrom by 5.7% in the fourth quarter. Personal CFO Solutions LLC now owns 11,882 shares of the specialty retailer’s stock valued at $219,000 after purchasing an additional 636 shares during the last quarter. Hexagon Capital Partners LLC grew its position in shares of Nordstrom by 33.1% in the first quarter. Hexagon Capital Partners LLC now owns 2,648 shares of the specialty retailer’s stock valued at $54,000 after purchasing an additional 659 shares during the last quarter. Finally, Louisiana State Employees Retirement System grew its position in shares of Nordstrom by 2.9% in the first quarter. Louisiana State Employees Retirement System now owns 28,000 shares of the specialty retailer’s stock valued at $568,000 after purchasing an additional 800 shares during the last quarter. 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.