Nordstrom, Inc. (NYSE:JWN) Given Consensus Rating of “Reduce” by Brokerages

Nordstrom, Inc. (NYSE:JWN) has received an average rating of “Reduce” from the thirteen brokerages that are covering the company, Marketbeat.com reports. Three research analysts have rated the stock with a sell recommendation and ten have assigned a hold recommendation to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $20.23.

A number of research analysts have recently weighed in on the company. BMO Capital Markets raised their price target on Nordstrom from $20.00 to $22.00 and gave the company a “market perform” rating in a research report on Wednesday, August 28th. StockNews.com upgraded shares of Nordstrom from a “hold” rating to a “buy” rating in a report on Thursday, August 8th. Telsey Advisory Group upped their price target on shares of Nordstrom from $23.00 to $24.00 and gave the company a “market perform” rating in a report on Wednesday, August 28th. KeyCorp lowered shares of Nordstrom from an “overweight” rating to a “sector weight” rating in a research report on Thursday, September 26th. Finally, TD Cowen lifted their price objective on Nordstrom from $24.00 to $25.00 and gave the stock a “hold” rating in a research report on Wednesday, August 28th.

Nordstrom Trading Down 2.8 %

Shares of NYSE JWN opened at $23.99 on Tuesday. 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 stock has a market capitalization of $3.93 billion, a PE ratio of 13.11 and a beta of 2.60. Nordstrom has a twelve month low of $12.88 and a twelve month high of $24.93. The stock has a fifty day simple moving average of $22.44 and a 200-day simple moving average of $21.55.

Nordstrom (NYSE:JWN) last announced its quarterly earnings data on Tuesday, August 27th. The specialty retailer reported $0.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.71 by $0.25. The business had revenue of $3.89 billion for the quarter, compared to analysts’ expectations of $3.88 billion. Nordstrom had a negative return on equity of 21.26% and a negative net margin of 1.44%. The company’s revenue for the quarter was up 3.2% compared to the same quarter last year. During the same period last year, the firm earned $0.84 earnings per share. On average, equities analysts forecast that Nordstrom will post 1.89 earnings per share for the current year.

Nordstrom Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 18th. Investors of record on Tuesday, September 3rd were paid a $0.19 dividend. The ex-dividend date was Tuesday, September 3rd. This represents a $0.76 dividend on an annualized basis and a yield of 3.17%. Nordstrom’s payout ratio is presently 41.53%.

Insider Activity

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 completion of the transaction, the chief operating officer now directly owns 169,331 shares in the company, valued at $3,928,479.20. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 5.78% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Nordstrom

A number of hedge funds have recently made changes to their positions in the business. American Century Companies Inc. boosted its holdings in Nordstrom by 66.2% during the second quarter. American Century Companies Inc. now owns 1,661,227 shares of the specialty retailer’s stock valued at $35,251,000 after purchasing an additional 661,769 shares in the last quarter. Vanguard Group Inc. boosted its stake in Nordstrom by 5.7% in the 1st quarter. Vanguard Group Inc. now owns 10,653,007 shares of the specialty retailer’s stock valued at $215,936,000 after buying an additional 579,001 shares in the last quarter. Marshall Wace LLP grew its position in Nordstrom by 38.4% in 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. NewSquare Capital LLC acquired a new position in Nordstrom during the second quarter worth $7,783,000. Finally, Axiom Advisory LLC raised its stake in Nordstrom by 46.0% during the third quarter. Axiom Advisory LLC now owns 1,100,864 shares of the specialty retailer’s stock worth $24,456,000 after acquiring an additional 346,994 shares in the last quarter. Institutional investors and hedge funds 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.