Nordstrom, Inc. (NYSE:JWN) to Issue Quarterly Dividend of $0.19

Nordstrom, Inc. (NYSE:JWN) announced a quarterly dividend on Wednesday, November 20th,RTT News reports. Stockholders of record on Tuesday, December 3rd will be paid a dividend of 0.19 per share by the specialty retailer on Wednesday, December 18th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 3.41%.

Nordstrom has raised its dividend by an average of 27.1% per year over the last three years. Nordstrom has a payout ratio of 38.4% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Nordstrom to earn $1.95 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 39.0%.

Nordstrom Stock Down 1.8 %

JWN stock opened at $22.26 on Thursday. The business’s 50-day moving average price is $22.76 and its 200-day moving average price is $22.11. The stock has a market cap of $3.65 billion, a P/E ratio of 13.01 and a beta of 2.59. Nordstrom has a twelve month low of $13.68 and a twelve month high of $24.93. The company has a quick ratio of 0.41, a current ratio of 1.07 and a debt-to-equity ratio of 2.76.

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

Analysts Set New Price Targets

A number of research analysts recently commented on the stock. JPMorgan Chase & Co. increased their price target on shares of Nordstrom from $19.00 to $20.00 and gave the company an “underweight” rating in a report on Wednesday, August 28th. KeyCorp downgraded Nordstrom from an “overweight” rating to a “sector weight” rating in a report on Thursday, September 26th. The Goldman Sachs Group upped their price objective on Nordstrom from $19.00 to $21.00 and gave the company a “neutral” 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. Finally, TD Cowen increased their target price on shares of Nordstrom from $24.00 to $25.00 and gave the company a “hold” rating in a research report on Wednesday, August 28th. Three analysts have rated the stock with a sell rating, ten have given a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, Nordstrom currently has a consensus rating of “Hold” and an average price target of $20.58.

Insider Activity

In other Nordstrom news, COO Alexis Depree sold 20,000 shares of the firm’s stock in a transaction on Tuesday, September 24th. The stock was sold at an average price of $23.20, for a total value of $464,000.00. Following the completion of the sale, the chief operating officer now owns 169,331 shares of the company’s stock, valued at approximately $3,928,479.20. This trade represents a 10.56 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 5.78% of the company’s stock.

About Nordstrom

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.