StockNews.com Lowers Nordstrom (NYSE:JWN) to Hold

StockNews.com downgraded shares of Nordstrom (NYSE:JWN) from a buy rating to a hold rating in a research note released on Saturday.

A number of other analysts have also recently commented on JWN. Piper Sandler upped their price target on shares of Nordstrom from $17.00 to $20.00 and gave the company a neutral rating in a research note on Wednesday, March 6th. Barclays boosted their price objective on Nordstrom from $15.00 to $18.00 and gave the company an underweight rating in a research note on Friday, May 31st. The Goldman Sachs Group lifted their target price on shares of Nordstrom from $16.00 to $18.00 and gave the company a neutral rating in a research report on Wednesday, March 6th. Jefferies Financial Group reiterated a hold rating and issued a $17.00 price objective (down from $18.00) on shares of Nordstrom in a report on Thursday, March 7th. Finally, Evercore ISI increased their price objective on Nordstrom from $17.00 to $19.00 and gave the company an in-line rating in a research report on Friday, May 31st. Five investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of Hold and a consensus target price of $17.42.

Nordstrom Stock Performance

NYSE JWN opened at $21.81 on Friday. The company has a debt-to-equity ratio of 3.13, a quick ratio of 0.36 and a current ratio of 1.03. The company has a market capitalization of $3.57 billion, a PE ratio of 11.92, a price-to-earnings-growth ratio of 2.41 and a beta of 2.58. Nordstrom has a 52-week low of $12.88 and a 52-week high of $23.54. The company has a 50-day simple moving average of $20.45 and a 200 day simple moving average of $19.27.

Nordstrom (NYSE:JWN) last announced its quarterly earnings data on Thursday, May 30th. The specialty retailer reported ($0.24) earnings per share for the quarter, missing the consensus estimate of ($0.08) by ($0.16). The firm had revenue of $3.34 billion for the quarter, compared to the consensus estimate of $3.19 billion. Nordstrom had a negative net margin of 1.35% and a negative return on equity of 26.45%. Nordstrom’s revenue for the quarter was up 4.8% on a year-over-year basis. During the same period last year, the company posted $0.07 earnings per share. On average, research analysts predict that Nordstrom will post 1.79 EPS for the current year.

Nordstrom Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 19th. Stockholders of record on Tuesday, June 4th will be issued a dividend of $0.19 per share. The ex-dividend date is Tuesday, June 4th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 3.49%. Nordstrom’s dividend payout ratio is currently 41.53%.

Institutional Investors Weigh In On Nordstrom

Several institutional investors and hedge funds have recently bought and sold shares of the business. Premier Path Wealth Partners LLC purchased a new stake in shares of Nordstrom in the 4th quarter worth about $1,081,000. Wellington Management Group LLP grew its holdings in Nordstrom by 52.9% in the third quarter. Wellington Management Group LLP now owns 363,690 shares of the specialty retailer’s stock worth $5,434,000 after purchasing an additional 125,877 shares during the period. Norges Bank bought a new position in Nordstrom during the 4th quarter valued at approximately $23,572,000. Boulder Hill Capital Management LP bought a new position in Nordstrom in the 4th quarter worth about $2,065,000. Finally, Jump Financial LLC grew its position in Nordstrom by 83.9% during the 4th quarter. Jump Financial LLC now owns 150,200 shares of the specialty retailer’s stock valued at $2,771,000 after purchasing an additional 68,529 shares during the last quarter. Hedge funds and other institutional investors own 88.73% of the company’s stock.

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.