Nordstrom, Inc. (NYSE:JWN) Given Consensus Recommendation of “Reduce” by Analysts

Nordstrom, Inc. (NYSE:JWN) has earned a consensus rating of “Reduce” from the thirteen brokerages that are covering the company, Marketbeat.com reports. Three equities research analysts have rated the stock with a sell rating and ten have given a hold rating to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $20.33.

JWN has been the subject of a number of research reports. The Goldman Sachs Group raised their price target on shares of Nordstrom from $19.00 to $21.00 and gave the stock a “neutral” rating in a report on Wednesday, August 28th. StockNews.com raised Nordstrom from a “hold” rating to a “buy” rating in a research note on Thursday, August 8th. Bank of America increased their price target on Nordstrom from $18.00 to $20.00 and gave the stock an “underperform” rating in a report on Wednesday, August 28th. TD Cowen boosted their price objective on Nordstrom from $24.00 to $25.00 and gave the company a “hold” rating in a report on Wednesday, August 28th. Finally, BMO Capital Markets increased their target price on Nordstrom from $20.00 to $22.00 and gave the stock a “market perform” rating in a report on Wednesday, August 28th.

Nordstrom Price Performance

JWN stock opened at $23.22 on Tuesday. The company has a quick ratio of 0.41, a current ratio of 1.07 and a debt-to-equity ratio of 2.76. The firm has a market cap of $3.81 billion, a price-to-earnings ratio of 13.58 and a beta of 2.60. The company’s fifty day simple moving average is $22.51 and its 200 day simple moving average is $21.67. Nordstrom has a 12-month low of $12.88 and a 12-month high of $24.93.

Nordstrom (NYSE:JWN) last announced its earnings results on Tuesday, August 27th. The specialty retailer reported $0.96 EPS for the quarter, beating the consensus estimate of $0.71 by $0.25. Nordstrom had a negative return on equity of 21.26% and a negative net margin of 1.44%. The company had revenue of $3.89 billion for the quarter, compared to analyst estimates of $3.88 billion. During the same quarter in the prior year, the company earned $0.84 EPS. The firm’s revenue for the quarter was up 3.2% compared to the same quarter last year. On average, analysts expect that Nordstrom will post 1.89 earnings per share for the current year.

Nordstrom Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 18th. Investors of record on Tuesday, September 3rd were given a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 3.27%. The ex-dividend date was Tuesday, September 3rd. Nordstrom’s payout ratio is currently 44.44%.

Insiders Place Their Bets

In other Nordstrom news, COO Alexis Depree sold 20,000 shares of Nordstrom stock in a transaction that occurred on Tuesday, September 24th. The shares were sold at an average price of $23.20, for a total transaction of $464,000.00. Following the transaction, the chief operating officer now owns 169,331 shares of the company’s stock, valued at $3,928,479.20. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 5.78% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Nordstrom

A number of hedge funds have recently made changes to their positions in the business. Atlas Capital Advisors LLC increased its holdings in Nordstrom by 101.8% during the second quarter. Atlas Capital Advisors LLC now owns 1,491 shares of the specialty retailer’s stock worth $32,000 after buying an additional 752 shares during the last quarter. Register Financial Advisors LLC bought a new stake in shares of Nordstrom in the 1st quarter worth approximately $30,000. Rothschild Investment LLC purchased a new position in Nordstrom in the second quarter valued at approximately $39,000. Blue Trust Inc. grew its holdings in Nordstrom by 10,045.8% during the second quarter. Blue Trust Inc. now owns 2,435 shares of the specialty retailer’s stock valued at $49,000 after purchasing an additional 2,411 shares during the period. Finally, Hexagon Capital Partners LLC increased its position in Nordstrom by 33.1% in the first quarter. Hexagon Capital Partners LLC now owns 2,648 shares of the specialty retailer’s stock worth $54,000 after buying an additional 659 shares during the last quarter. 88.73% of the stock is currently owned by institutional investors.

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.