Nordstrom (NYSE:JWN) Sets New 12-Month High – What’s Next?

Nordstrom, Inc. (NYSE:JWN) shares hit a new 52-week high on Monday . The stock traded as high as $24.99 and last traded at $24.90, with a volume of 5057686 shares trading hands. The stock had previously closed at $23.24.

Analysts Set New Price Targets

JWN has been the subject of several research analyst reports. Evercore ISI lifted their target price on shares of Nordstrom from $20.00 to $22.00 and gave the stock an “in-line” rating in a report on Wednesday. KeyCorp cut Nordstrom from an “overweight” rating to a “sector weight” rating in a report on Thursday, September 26th. Telsey Advisory Group increased their target price on Nordstrom from $24.00 to $26.00 and gave the stock a “market perform” rating in a research note on Wednesday. StockNews.com raised Nordstrom from a “hold” rating to a “buy” rating in a report on Thursday, August 8th. Finally, JPMorgan Chase & Co. upped their price objective on Nordstrom from $19.00 to $20.00 and gave the company an “underweight” rating in a report on Wednesday, August 28th. Four equities research analysts have rated the stock with a sell rating, ten have given a hold rating and one has given a buy rating to the stock. According to MarketBeat, Nordstrom has a consensus rating of “Hold” and a consensus price target of $20.65.

Nordstrom Stock Performance

The company has a current ratio of 1.07, a quick ratio of 0.41 and a debt-to-equity ratio of 2.76. The firm has a market capitalization of $3.71 billion, a price-to-earnings ratio of 13.23 and a beta of 2.59. The stock’s 50-day moving average is $22.86 and its 200-day moving average is $22.23.

Nordstrom (NYSE:JWN) last announced 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. The company had revenue of $3.35 billion during the quarter, compared to analysts’ expectations of $3.34 billion. Nordstrom had a negative return on equity of 21.26% and a negative net margin of 1.44%. Nordstrom’s revenue was up 4.6% compared to the same quarter last year. During the same period in the prior year, the company earned $0.25 EPS. On average, analysts predict that Nordstrom, Inc. will post 1.91 EPS for the current fiscal year.

Nordstrom Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Tuesday, December 3rd will be given a dividend of $0.19 per share. The ex-dividend date is Tuesday, December 3rd. This represents a $0.76 dividend on an annualized basis and a dividend yield of 3.36%. Nordstrom’s payout ratio is presently 44.44%.

Insiders Place Their Bets

In other news, COO Alexis Depree sold 20,000 shares of the company’s stock in a transaction that occurred on 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 of the company’s stock, valued at $3,928,479.20. This represents a 10.56 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 5.78% of the company’s stock.

Hedge Funds Weigh In On Nordstrom

A number of hedge funds have recently added to or reduced their stakes in the stock. Venturi Wealth Management LLC boosted its stake in shares of Nordstrom by 355.9% in the 3rd quarter. Venturi Wealth Management LLC now owns 1,272 shares of the specialty retailer’s stock worth $29,000 after buying an additional 993 shares during the last quarter. Atlas Capital Advisors LLC lifted its stake in Nordstrom by 101.8% in the 2nd quarter. Atlas Capital Advisors LLC now owns 1,491 shares of the specialty retailer’s stock worth $32,000 after purchasing an additional 752 shares in the last quarter. Rothschild Investment LLC bought a new position in Nordstrom in the 2nd quarter worth about $39,000. Blue Trust Inc. lifted its position in Nordstrom by 10,045.8% during the second quarter. Blue Trust Inc. now owns 2,435 shares of the specialty retailer’s stock valued at $49,000 after purchasing an additional 2,411 shares during the last quarter. Finally, Point72 Hong Kong Ltd purchased a new position in Nordstrom in the second quarter worth $71,000. 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.