Nordstrom, Inc. (NYSE:JWN) Plans $0.19 Quarterly Dividend

Nordstrom, Inc. (NYSE:JWN – Get Rating) declared a quarterly dividend on Wednesday, May 17th, RTT News reports. Investors of record on Tuesday, May 30th will be paid a dividend of 0.19 per share by the specialty retailer on Wednesday, June 14th. This represents a $0.76 dividend on an annualized basis and a yield of 4.71%. The ex-dividend date of this dividend is Friday, May 26th.

Nordstrom has decreased its dividend by an average of 19.9% per year over the last three years. Nordstrom has a payout ratio of 39.0% indicating that its dividend is sufficiently covered by earnings. Analysts expect Nordstrom to earn $1.97 per share next year, which means the company should continue to be able to cover its $0.76 annual dividend with an expected future payout ratio of 38.6%.

Nordstrom Price Performance

Shares of NYSE:JWN opened at $16.15 on Thursday. The company’s fifty day moving average is $15.80 and its two-hundred day moving average is $17.99. The company has a quick ratio of 0.42, a current ratio of 1.07 and a debt-to-equity ratio of 3.86. Nordstrom has a 12-month low of $14.02 and a 12-month high of $27.72. The company has a market cap of $2.61 billion, a P/E ratio of 10.70, a price-to-earnings-growth ratio of 1.41 and a beta of 2.21.

Nordstrom (NYSE:JWN – Get Rating) last posted its quarterly earnings data on Thursday, March 2nd. The specialty retailer reported $0.74 EPS for the quarter, topping analysts’ consensus estimates of $0.65 by $0.09. Nordstrom had a return on equity of 42.08% and a net margin of 1.58%. The business had revenue of $4.20 billion for the quarter, compared to analyst estimates of $4.33 billion. During the same period in the previous year, the company posted $1.23 earnings per share. The firm’s revenue for the quarter was down 4.2% on a year-over-year basis. Equities analysts expect that Nordstrom will post 1.93 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on JWN shares. Argus raised shares of Nordstrom from a “hold” rating to a “buy” rating and set a $23.00 price target for the company in a report on Wednesday, March 8th. Gordon Haskett raised shares of Nordstrom from a “reduce” rating to a “hold” rating and set a $22.00 price target for the company in a report on Friday, February 3rd. Barclays decreased their price target on shares of Nordstrom from $16.00 to $14.00 in a report on Tuesday, May 2nd. The Goldman Sachs Group started coverage on shares of Nordstrom in a research note on Monday, January 30th. They issued a “neutral” rating and a $20.00 target price for the company. Finally, StockNews.com started coverage on shares of Nordstrom in a research note on Thursday, May 18th. They issued a “hold” rating for the company. Four research analysts have rated the stock with a sell rating, eleven have given a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $19.33.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of JWN. Advisory Services Network LLC grew its position in shares of Nordstrom by 315.9% during the 1st quarter. Advisory Services Network LLC now owns 2,487 shares of the specialty retailer’s stock worth $40,000 after purchasing an additional 1,889 shares in the last quarter. Dark Forest Capital Management LP raised its stake in Nordstrom by 194.2% during the first quarter. Dark Forest Capital Management LP now owns 3,195 shares of the specialty retailer’s stock worth $52,000 after buying an additional 2,109 shares during the last quarter. Captrust Financial Advisors raised its stake in Nordstrom by 44.9% during the second quarter. Captrust Financial Advisors now owns 2,738 shares of the specialty retailer’s stock worth $58,000 after buying an additional 849 shares during the last quarter. Cetera Advisor Networks LLC bought a new stake in Nordstrom in the fourth quarter valued at $164,000. Finally, Toroso Investments LLC bought a new stake in Nordstrom in the fourth quarter valued at $168,000. 66.41% of the stock is owned by institutional investors.

About Nordstrom

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Nordstrom, Inc engages in the manufacture and trade of clothes, shoes, and accessories. It operates through the following segments: Retail and Corporate/Other. The Retail segment consists of a selection of high-quality, brand-name, and private label merchandise, which includes apparel, shoes, cosmetics, and accessories for women, men, young adults, and children.