Nordstrom (NYSE:JWN) Rating Increased to Neutral at UBS Group

UBS Group upgraded shares of Nordstrom (NYSE:JWN) from a sell rating to a neutral rating in a research note released on Friday morning, Marketbeat Ratings reports. UBS Group currently has $24.00 price objective on the specialty retailer’s stock, up from their prior price objective of $14.50.

Several other analysts have also commented on JWN. KeyCorp lowered Nordstrom from an “overweight” rating to a “sector weight” rating in a report on Thursday, September 26th. Telsey Advisory Group dropped their price target on Nordstrom from $26.00 to $24.00 and set a “market perform” rating on the stock in a research note on Tuesday, December 24th. StockNews.com started coverage on shares of Nordstrom in a report on Friday. They set a “buy” rating on the stock. Argus cut shares of Nordstrom from a “buy” rating to a “sell” rating in a research note on Monday, December 30th. Finally, Bank of America upped their price target on shares of Nordstrom from $20.00 to $22.00 and gave the company an “underperform” rating in a research note on Wednesday, November 27th. Three analysts have rated the stock with a sell rating, eleven have given a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $21.92.

Nordstrom Price Performance

Shares of JWN stock opened at $24.03 on Friday. The stock’s 50-day moving average is $23.41 and its 200 day moving average is $22.70. Nordstrom has a 1-year low of $16.78 and a 1-year high of $24.99. The company has a debt-to-equity ratio of 2.65, a current ratio of 1.14 and a quick ratio of 0.35. The company has a market cap of $3.97 billion, a P/E ratio of 15.31 and a beta of 2.52.

Nordstrom (NYSE:JWN) last released its quarterly earnings results on Tuesday, November 26th. The specialty retailer reported $0.33 earnings per share for the quarter, beating analysts’ consensus estimates of $0.22 by $0.11. Nordstrom had a negative net margin of 1.57% and a negative return on equity of 18.04%. The business had revenue of $3.35 billion for the quarter, compared to analysts’ expectations of $3.34 billion. During the same period last year, the business earned $0.25 EPS. The company’s revenue was up 4.6% compared to the same quarter last year. Research analysts predict that Nordstrom will post 1.94 earnings per share for the current fiscal year.

Nordstrom Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 18th. Investors of record on Tuesday, December 3rd were given a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 3.16%. The ex-dividend date was Tuesday, December 3rd. Nordstrom’s dividend payout ratio is currently 48.41%.

Institutional Investors Weigh In On Nordstrom

Hedge funds and other institutional investors have recently made changes to their positions in the company. Dimensional Fund Advisors LP boosted its holdings in Nordstrom by 4.6% during the second quarter. Dimensional Fund Advisors LP now owns 3,136,639 shares of the specialty retailer’s stock worth $66,557,000 after buying an additional 137,094 shares in the last quarter. American Century Companies Inc. boosted its stake in shares of Nordstrom by 66.2% during the 2nd quarter. American Century Companies Inc. now owns 1,661,227 shares of the specialty retailer’s stock worth $35,251,000 after acquiring an additional 661,769 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Nordstrom by 0.3% during the 3rd quarter. Geode Capital Management LLC now owns 1,625,616 shares of the specialty retailer’s stock valued at $36,570,000 after acquiring an additional 5,407 shares during the period. Marshall Wace LLP increased its stake in shares of Nordstrom by 38.4% in the 2nd quarter. Marshall Wace LLP now owns 1,479,414 shares of the specialty retailer’s stock valued at $31,393,000 after purchasing an additional 410,152 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of Nordstrom by 17.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,422,856 shares of the specialty retailer’s stock valued at $32,000,000 after purchasing an additional 208,193 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.