Nordstrom (NYSE:JWN) Earns Market Perform Rating from Telsey Advisory Group

Telsey Advisory Group reaffirmed their market perform rating on shares of Nordstrom (NYSE:JWN) in a research report sent to investors on Wednesday,Benzinga reports. They currently have a $24.00 target price on the specialty retailer’s stock.

Several other equities analysts also recently weighed in on the stock. Citigroup increased their price target on shares of Nordstrom from $22.00 to $23.00 and gave the stock a “neutral” rating in a report on Tuesday, November 19th. BMO Capital Markets raised their target price on shares of Nordstrom from $20.00 to $22.00 and gave the stock 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 report on Thursday, September 26th. StockNews.com upgraded Nordstrom from a “hold” rating to a “buy” rating in a research note on Thursday, August 8th. Finally, 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 research note on Wednesday, August 28th. Three analysts have rated the stock with a sell rating, ten have issued a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $20.58.

Nordstrom Price Performance

Shares of NYSE JWN opened at $23.24 on Wednesday. Nordstrom has a fifty-two week low of $14.39 and a fifty-two week high of $24.93. The company has a market cap of $3.82 billion, a PE ratio of 13.59 and a beta of 2.59. The company has a debt-to-equity ratio of 2.76, a quick ratio of 0.41 and a current ratio of 1.07. The business has a 50-day simple moving average of $22.77 and a two-hundred day simple moving average of $22.13.

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

Nordstrom Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Tuesday, December 3rd will be paid a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 3.27%. The ex-dividend date is Tuesday, December 3rd. Nordstrom’s payout ratio is 44.44%.

Insider Activity at Nordstrom

In related news, COO Alexis Depree sold 20,000 shares of Nordstrom stock in a transaction dated Tuesday, September 24th. The stock was sold at an average price of $23.20, for a total value of $464,000.00. Following the sale, the chief operating officer now directly owns 169,331 shares in the company, valued at approximately $3,928,479.20. The trade was a 10.56 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 5.78% of the stock is owned by corporate insiders.

Institutional Trading of Nordstrom

A number of institutional investors have recently made changes to their positions in the company. Verition Fund Management LLC boosted its position in Nordstrom by 147.4% during the third quarter. Verition Fund Management LLC now owns 1,218,365 shares of the specialty retailer’s stock worth $27,401,000 after acquiring an additional 725,803 shares during the last quarter. American Century Companies Inc. boosted its holdings 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 purchasing an additional 661,769 shares during the last quarter. Vanguard Group Inc. grew its position in shares of Nordstrom by 5.7% in the first quarter. Vanguard Group Inc. now owns 10,653,007 shares of the specialty retailer’s stock valued at $215,936,000 after purchasing an additional 579,001 shares in the last quarter. Marshall Wace LLP increased its holdings in shares of 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 purchasing an additional 410,152 shares during the last quarter. Finally, NewSquare Capital LLC acquired a new stake in shares of Nordstrom in the second quarter valued at approximately $7,783,000. 88.73% of the stock is owned by institutional investors and hedge funds.

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.