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

Nordstrom, Inc. (NYSE:JWN) has earned an average rating of “Reduce” from the thirteen brokerages that are presently covering the firm, MarketBeat reports. Three analysts have rated the stock with a sell recommendation and ten have assigned a hold recommendation to the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $20.33.

Several research analysts have commented on the stock. Telsey Advisory Group upped their price objective on shares of Nordstrom from $23.00 to $24.00 and gave the stock a “market perform” rating in a report on Wednesday, August 28th. Bank of America raised their price objective on shares of Nordstrom from $18.00 to $20.00 and gave the stock an “underperform” rating in a report on Wednesday, August 28th. The Goldman Sachs Group upped their target price on Nordstrom from $19.00 to $21.00 and gave the stock a “neutral” rating in a report on Wednesday, August 28th. StockNews.com upgraded Nordstrom from a “hold” rating to a “buy” rating in a research note on Thursday, August 8th. Finally, BMO Capital Markets upped their price target on Nordstrom from $20.00 to $22.00 and gave the stock a “market perform” rating in a research note on Wednesday, August 28th.

Insider Buying and Selling

In other Nordstrom news, COO Alexis Depree sold 20,000 shares of the stock in a transaction that occurred on Tuesday, September 24th. The shares were sold at an average price of $23.20, for a total value 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 trade represents a 10.56 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 5.78% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Nordstrom

A number of institutional investors have recently bought and sold shares of the stock. Verition Fund Management LLC boosted its position in shares of Nordstrom by 147.4% in the third quarter. Verition Fund Management LLC now owns 1,218,365 shares of the specialty retailer’s stock worth $27,401,000 after purchasing an additional 725,803 shares during the period. American Century Companies Inc. boosted its holdings in Nordstrom by 66.2% in the 2nd quarter. American Century Companies Inc. now owns 1,661,227 shares of the specialty retailer’s stock worth $35,251,000 after buying an additional 661,769 shares during the period. Vanguard Group Inc. boosted its holdings in Nordstrom by 5.7% in the 1st quarter. Vanguard Group Inc. now owns 10,653,007 shares of the specialty retailer’s stock worth $215,936,000 after buying an additional 579,001 shares during the period. Marshall Wace LLP raised its holdings in Nordstrom by 38.4% during the second quarter. Marshall Wace LLP now owns 1,479,414 shares of the specialty retailer’s stock valued at $31,393,000 after acquiring an additional 410,152 shares during the period. Finally, NewSquare Capital LLC purchased a new position in shares of Nordstrom in the second quarter valued at about $7,783,000. 88.73% of the stock is owned by institutional investors.

Nordstrom Price Performance

JWN stock opened at $22.87 on Friday. The stock has a market capitalization of $3.76 billion, a price-to-earnings ratio of 13.37 and a beta of 2.59. The firm’s 50-day moving average price is $22.74 and its two-hundred day moving average price is $22.01. The company has a current ratio of 1.07, a quick ratio of 0.41 and a debt-to-equity ratio of 2.76. Nordstrom has a 12-month low of $13.68 and a 12-month high of $24.93.

Nordstrom (NYSE:JWN) last released its quarterly earnings results on Tuesday, August 27th. The specialty retailer reported $0.96 EPS for the quarter, beating analysts’ consensus estimates of $0.71 by $0.25. Nordstrom had a negative return on equity of 21.26% and a negative net margin of 1.44%. The business had revenue of $3.89 billion during the quarter, compared to analyst estimates of $3.88 billion. During the same quarter in the prior year, the company posted $0.84 EPS. Nordstrom’s quarterly revenue was up 3.2% compared to the same quarter last year. As a group, equities analysts predict that Nordstrom will post 1.91 earnings per share for the current year.

Nordstrom Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 18th. Stockholders of record on Tuesday, September 3rd were issued a dividend of $0.19 per share. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $0.76 annualized dividend and a dividend yield of 3.32%. Nordstrom’s payout ratio is 44.44%.

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.