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.
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.
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.
- Get a free copy of the StockNews.com research report on Nordstrom (JWN)
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