Nordstrom (NYSE:JWN) Sets New 52-Week High at $23.65

Nordstrom, Inc. (NYSE:JWN)’s stock price reached a new 52-week high during trading on Friday . The stock traded as high as $23.65 and last traded at $23.17, with a volume of 151612 shares traded. The stock had previously closed at $23.39.

Analysts Set New Price Targets

Several equities research analysts have recently commented on JWN shares. JPMorgan Chase & Co. boosted their target price on shares of Nordstrom from $15.00 to $17.00 and gave the stock an “underweight” rating in a research report on Friday, May 17th. StockNews.com raised shares of Nordstrom from a “hold” rating to a “buy” rating in a research report on Wednesday, July 3rd. Evercore ISI boosted their target price on shares of Nordstrom from $17.00 to $19.00 and gave the stock an “in-line” rating in a research report on Friday, May 31st. Telsey Advisory Group upped their price objective on shares of Nordstrom from $19.00 to $23.00 and gave the stock a “market perform” rating in a research report on Tuesday. Finally, Bank of America upped their price objective on shares of Nordstrom from $15.00 to $18.00 and gave the stock an “underperform” rating in a research report on Friday, May 31st. Five analysts have rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $17.75.

Nordstrom Stock Down 0.6 %

The company has a market capitalization of $3.80 billion, a PE ratio of 12.78, a PEG ratio of 2.51 and a beta of 2.62. 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 stock’s 50 day moving average is $21.38 and its 200 day moving average is $19.79.

Nordstrom (NYSE:JWN) last announced its quarterly earnings results on Thursday, May 30th. The specialty retailer reported ($0.24) EPS for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.16). Nordstrom had a negative net margin of 1.35% and a negative return on equity of 26.45%. The business had revenue of $3.34 billion for the quarter, compared to analysts’ expectations of $3.19 billion. During the same quarter in the previous year, the company posted $0.07 earnings per share. The business’s quarterly revenue was up 4.8% compared to the same quarter last year. On average, sell-side analysts anticipate that Nordstrom, Inc. will post 1.79 EPS for the current fiscal year.

Nordstrom Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 19th. Stockholders of record on Tuesday, June 4th were given a dividend of $0.19 per share. The ex-dividend date of this dividend was Tuesday, June 4th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 3.27%. Nordstrom’s dividend payout ratio (DPR) is presently 41.53%.

Hedge Funds Weigh In On Nordstrom

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Garde Capital Inc. raised its holdings in shares of Nordstrom by 33.6% during the 1st quarter. Garde Capital Inc. now owns 37,308 shares of the specialty retailer’s stock valued at $756,000 after buying an additional 9,376 shares in the last quarter. EMC Capital Management purchased a new stake in shares of Nordstrom in the 1st quarter valued at $186,000. Comerica Bank boosted its stake in shares of Nordstrom by 59.9% in the 1st quarter. Comerica Bank now owns 75,806 shares of the specialty retailer’s stock valued at $1,537,000 after purchasing an additional 28,411 shares in the last quarter. Tidal Investments LLC bought a new stake in Nordstrom in the first quarter worth $419,000. Finally, BOKF NA lifted its stake in Nordstrom by 7.9% in the first quarter. BOKF NA now owns 121,455 shares of the specialty retailer’s stock worth $2,449,000 after purchasing an additional 8,871 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.