Nordstrom’s (JWN) “Market Perform” Rating Reaffirmed at Telsey Advisory Group

Telsey Advisory Group restated their market perform rating on shares of Nordstrom (NYSE:JWN) in a research report report published on Wednesday morning,Benzinga reports. Telsey Advisory Group currently has a $24.00 target price on the specialty retailer’s stock.

Several other brokerages have also recently commented on JWN. Barclays raised shares of Nordstrom from an “underweight” rating to an “equal weight” rating and boosted their price target for the stock from $18.00 to $23.00 in a research report on Thursday, September 5th. BMO Capital Markets increased their price target on Nordstrom from $20.00 to $22.00 and gave the company a “market perform” rating in a research report on Wednesday, August 28th. StockNews.com raised Nordstrom from a “hold” rating to a “buy” rating in a research report on Thursday, August 8th. The Goldman Sachs Group increased their price objective on Nordstrom from $19.00 to $21.00 and gave the company a “neutral” rating in a report on Wednesday, August 28th. Finally, TD Cowen boosted their target price on shares of Nordstrom from $24.00 to $25.00 and gave the stock a “hold” rating in a report on Wednesday, August 28th. Three investment analysts have rated the stock with a sell rating, ten have issued a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, Nordstrom presently has a consensus rating of “Hold” and a consensus price target of $20.58.

Nordstrom Price Performance

JWN stock opened at $22.26 on Wednesday. The stock has a 50-day moving average price of $22.75 and a two-hundred day moving average price of $22.11. Nordstrom has a 1 year low of $13.68 and a 1 year high of $24.93. The stock has a market cap of $3.65 billion, a PE ratio of 13.01 and a beta of 2.59. The company has a current ratio of 1.07, a quick ratio of 0.41 and a debt-to-equity ratio of 2.76.

Nordstrom (NYSE:JWN) last posted its quarterly earnings data on Tuesday, August 27th. The specialty retailer reported $0.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.71 by $0.25. The company had revenue of $3.89 billion for the quarter, compared to the consensus estimate of $3.88 billion. Nordstrom had a negative net margin of 1.44% and a negative return on equity of 21.26%. The firm’s revenue was up 3.2% compared to the same quarter last year. During the same period last year, the company earned $0.84 earnings per share. Equities analysts forecast that Nordstrom will post 1.91 EPS for the current fiscal year.

Nordstrom Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Tuesday, December 3rd will be issued a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 3.41%. Nordstrom’s dividend payout ratio is currently 44.44%.

Insider Transactions at Nordstrom

In other news, COO Alexis Depree sold 20,000 shares of the business’s stock in a transaction on Tuesday, September 24th. The stock was sold at an average price of $23.20, for a total transaction of $464,000.00. Following the completion of the transaction, the chief operating officer now owns 169,331 shares of the company’s stock, valued at approximately $3,928,479.20. The trade was a 10.56 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 5.78% of the company’s stock.

Hedge Funds Weigh In On Nordstrom

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. CANADA LIFE ASSURANCE Co grew its position in shares of Nordstrom by 0.6% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 90,144 shares of the specialty retailer’s stock valued at $1,828,000 after buying an additional 520 shares during the last quarter. Atlas Capital Advisors LLC raised its position in shares of 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 acquiring an additional 752 shares during the last quarter. State of Alaska Department of Revenue lifted its stake in shares of Nordstrom by 7.3% in the third quarter. State of Alaska Department of Revenue now owns 11,236 shares of the specialty retailer’s stock worth $252,000 after acquiring an additional 760 shares during the period. Stephens Inc. AR boosted its holdings in Nordstrom by 0.5% in the third quarter. Stephens Inc. AR now owns 153,061 shares of the specialty retailer’s stock valued at $3,442,000 after acquiring an additional 805 shares during the last quarter. Finally, CWM LLC increased its position in Nordstrom by 28.7% during the 3rd quarter. CWM LLC now owns 3,628 shares of the specialty retailer’s stock valued at $82,000 after purchasing an additional 810 shares during the period. 88.73% of the stock is currently owned by institutional investors and hedge funds.

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.