Nordstrom (NYSE:JWN) Given New $24.00 Price Target at Telsey Advisory Group

Nordstrom (NYSE:JWN) had its target price trimmed by Telsey Advisory Group from $26.00 to $24.00 in a research report sent to investors on Tuesday morning,Benzinga reports. The firm currently has a market perform rating on the specialty retailer’s stock.

Several other equities analysts have also issued reports on the stock. StockNews.com lowered shares of Nordstrom from a “strong-buy” rating to a “buy” rating in a report on Thursday, December 5th. KeyCorp cut Nordstrom from an “overweight” rating to a “sector weight” rating in a research note on Thursday, September 26th. Barclays raised Nordstrom from an “underweight” rating to an “equal weight” rating and increased their target price for the stock from $18.00 to $23.00 in a research note on Thursday, September 5th. Citigroup lifted their price target on Nordstrom from $22.00 to $23.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 19th. Finally, JPMorgan Chase & Co. upped their price target on shares of Nordstrom from $19.00 to $20.00 and gave the stock an “underweight” rating in a research note on Wednesday, August 28th. Three analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, Nordstrom has a consensus rating of “Hold” and an average price target of $21.13.

Nordstrom Trading Up 0.2 %

JWN opened at $24.21 on Tuesday. The stock has a market cap of $3.99 billion, a PE ratio of 15.42 and a beta of 2.56. The business has a 50 day moving average of $23.21 and a 200-day moving average of $22.45. Nordstrom has a 52 week low of $16.63 and a 52 week high of $24.99. The company has a quick ratio of 0.35, a current ratio of 1.14 and a debt-to-equity ratio of 2.65.

Nordstrom (NYSE:JWN) last announced its quarterly earnings data on Tuesday, November 26th. The specialty retailer reported $0.33 EPS for the quarter, beating the consensus estimate of $0.22 by $0.11. The business had revenue of $3.35 billion during the quarter, compared to analyst estimates of $3.34 billion. Nordstrom had a negative return on equity of 18.04% and a negative net margin of 1.57%. The company’s revenue for the quarter was up 4.6% on a year-over-year basis. During the same quarter last year, the firm posted $0.25 earnings per share. Equities research analysts predict that Nordstrom will post 1.94 earnings per share for the current fiscal year.

Nordstrom Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, December 18th. Shareholders of record on Tuesday, December 3rd were given a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 3.14%. The ex-dividend date was Tuesday, December 3rd. Nordstrom’s dividend payout ratio (DPR) is presently 48.41%.

Hedge Funds Weigh In On Nordstrom

Several hedge funds and other institutional investors have recently modified their holdings of the company. Atlas Capital Advisors LLC grew its holdings in shares of Nordstrom by 101.8% in the second quarter. Atlas Capital Advisors LLC now owns 1,491 shares of the specialty retailer’s stock worth $32,000 after acquiring an additional 752 shares during the period. State of Alaska Department of Revenue grew its stake in shares of Nordstrom by 7.3% during the 3rd quarter. State of Alaska Department of Revenue now owns 11,236 shares of the specialty retailer’s stock valued at $252,000 after purchasing an additional 760 shares during the period. Stephens Inc. AR increased its position in shares of Nordstrom by 0.5% during the 3rd quarter. Stephens Inc. AR now owns 153,061 shares of the specialty retailer’s stock valued at $3,442,000 after purchasing an additional 805 shares during the last quarter. CWM LLC lifted its stake in shares of Nordstrom by 28.7% in the 3rd quarter. CWM LLC now owns 3,628 shares of the specialty retailer’s stock worth $82,000 after purchasing an additional 810 shares during the period. Finally, Venturi Wealth Management LLC lifted its stake in shares of Nordstrom by 355.9% in the 3rd quarter. Venturi Wealth Management LLC now owns 1,272 shares of the specialty retailer’s stock worth $29,000 after purchasing an additional 993 shares during the period. 88.73% of the stock is owned by 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.