Nordstrom’s (JWN) “Market Perform” Rating Reiterated at Telsey Advisory Group

Telsey Advisory Group restated their market perform rating on shares of Nordstrom (NYSE:JWN) in a research note published on Tuesday morning,Benzinga reports. The firm currently has a $24.00 target price on the specialty retailer’s stock.

Several other research firms have also issued reports on JWN. Argus lowered shares of Nordstrom from a “buy” rating to a “sell” rating in a research note on Monday, December 30th. Evercore ISI upped their price objective on shares of Nordstrom from $22.00 to $24.00 and gave the stock an “in-line” rating in a research report on Monday, January 13th. StockNews.com initiated coverage on shares of Nordstrom in a research report on Wednesday, February 19th. They set a “buy” rating on the stock. Bank of America boosted their target price on Nordstrom from $20.00 to $22.00 and gave the stock an “underperform” rating in a research note on Wednesday, November 27th. Finally, Barclays increased their price target on Nordstrom from $23.00 to $24.00 and gave the company an “equal weight” rating in a research report on Thursday, January 16th. Three analysts have rated the stock with a sell rating, eleven have issued a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $22.17.

Nordstrom Trading Down 0.1 %

NYSE:JWN opened at $24.31 on Tuesday. The company has a debt-to-equity ratio of 2.65, a current ratio of 1.14 and a quick ratio of 0.35. Nordstrom has a one year low of $16.78 and a one year high of $24.99. The company has a market cap of $4.01 billion, a PE ratio of 15.48 and a beta of 2.51. The firm has a 50-day moving average of $24.23 and a 200-day moving average of $23.23.

Nordstrom (NYSE:JWN) last issued its quarterly earnings data on Tuesday, November 26th. The specialty retailer reported $0.33 EPS for the quarter, topping analysts’ consensus estimates of $0.22 by $0.11. Nordstrom had a negative return on equity of 18.04% and a negative net margin of 1.57%. The firm had revenue of $3.35 billion during the quarter, compared to analyst estimates of $3.34 billion. During the same period in the previous year, the company posted $0.25 EPS. The company’s revenue for the quarter was up 4.6% on a year-over-year basis. As a group, equities research analysts expect that Nordstrom will post 1.97 EPS for the current fiscal year.

Nordstrom Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 26th. Stockholders of record on Tuesday, March 11th will be paid a $0.19 dividend. The ex-dividend date of this dividend is Tuesday, March 11th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 3.13%. Nordstrom’s dividend payout ratio (DPR) is 48.41%.

Hedge Funds Weigh In On Nordstrom

A number of large investors have recently bought and sold shares of JWN. Venturi Wealth Management LLC boosted its holdings in Nordstrom by 355.9% in the third quarter. Venturi Wealth Management LLC now owns 1,272 shares of the specialty retailer’s stock valued at $29,000 after acquiring an additional 993 shares in the last quarter. Spire Wealth Management boosted its stake in shares of Nordstrom by 90.9% during the 4th quarter. Spire Wealth Management now owns 2,100 shares of the specialty retailer’s stock valued at $51,000 after purchasing an additional 1,000 shares in the last quarter. Wolverine Asset Management LLC purchased a new position in shares of Nordstrom during the fourth quarter valued at about $63,000. Vestcor Inc bought a new position in Nordstrom in the fourth quarter worth about $63,000. Finally, Blue Trust Inc. raised its stake in Nordstrom by 57.7% in the third quarter. Blue Trust Inc. now owns 3,839 shares of the specialty retailer’s stock worth $81,000 after buying an additional 1,404 shares in the last quarter. 88.73% of the stock is owned by hedge funds and other institutional investors.

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.