Nordstrom’s (JWN) Market Perform Rating Reaffirmed at Telsey Advisory Group

Telsey Advisory Group reiterated their market perform rating on shares of Nordstrom (NYSE:JWN) in a research note issued to investors on Monday morning,Benzinga reports. The brokerage currently has a $24.00 price objective on the specialty retailer’s stock.

JWN has been the subject of several other reports. UBS Group raised shares of Nordstrom from a “sell” rating to a “neutral” rating and upped their price objective for the stock from $14.50 to $24.00 in a report on Friday. Evercore ISI increased their price target on shares of Nordstrom from $20.00 to $22.00 and gave the company an “in-line” rating in a report on Wednesday, November 27th. KeyCorp downgraded shares of Nordstrom from an “overweight” rating to a “sector weight” rating in a report on Thursday, September 26th. Citigroup increased their price target on shares of Nordstrom from $22.00 to $23.00 and gave the company a “neutral” rating in a report on Tuesday, November 19th. Finally, Bank of America raised their price objective on shares of Nordstrom from $20.00 to $22.00 and gave the stock an “underperform” rating in a report on Wednesday, November 27th. Three analysts have rated the stock with a sell rating, eleven have given a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $22.08.

Nordstrom Stock Up 0.6 %

JWN stock opened at $24.16 on Monday. Nordstrom has a 52-week low of $16.78 and a 52-week high of $24.99. The company’s 50 day simple moving average is $23.43 and its 200-day simple moving average is $22.74. 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 firm has a market capitalization of $3.99 billion, a P/E ratio of 15.39 and a beta of 2.52.

Nordstrom (NYSE:JWN) last released its quarterly earnings data on Tuesday, November 26th. The specialty retailer reported $0.33 earnings per share for the quarter, beating the consensus estimate 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 firm had revenue of $3.35 billion for the quarter, compared to analyst estimates of $3.34 billion. During the same quarter in the prior year, the business earned $0.25 EPS. The company’s revenue for the quarter was up 4.6% compared to the same quarter last year. As a group, equities research analysts anticipate that Nordstrom will post 1.94 EPS for the current year.

Nordstrom Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 18th. Investors of record on Tuesday, December 3rd were paid a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 3.15%. The ex-dividend date of this dividend was Tuesday, December 3rd. Nordstrom’s payout ratio is 48.41%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Wedmont Private Capital lifted its stake in Nordstrom by 6.7% in the fourth quarter. Wedmont Private Capital now owns 11,589 shares of the specialty retailer’s stock valued at $278,000 after buying an additional 723 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Nordstrom by 29.7% in the third quarter. JPMorgan Chase & Co. now owns 388,796 shares of the specialty retailer’s stock valued at $8,744,000 after purchasing an additional 89,114 shares during the last quarter. Franklin Resources Inc. raised its holdings in shares of Nordstrom by 29.9% in the third quarter. Franklin Resources Inc. now owns 50,294 shares of the specialty retailer’s stock valued at $1,152,000 after purchasing an additional 11,583 shares during the last quarter. Tidal Investments LLC raised its holdings in shares of Nordstrom by 47.8% in the third quarter. Tidal Investments LLC now owns 17,602 shares of the specialty retailer’s stock valued at $396,000 after purchasing an additional 5,690 shares during the last quarter. Finally, Sanctuary Advisors LLC raised its holdings in shares of Nordstrom by 160.9% in the third quarter. Sanctuary Advisors LLC now owns 51,071 shares of the specialty retailer’s stock valued at $1,187,000 after purchasing an additional 31,498 shares during the last quarter. Institutional investors own 88.73% of the company’s stock.

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.