UBS Group Raises Nordstrom (NYSE:JWN) Price Target to $14.50

Nordstrom (NYSE:JWN) had its price target raised by UBS Group from $13.00 to $14.50 in a report released on Wednesday,Benzinga reports. UBS Group currently has a sell rating on the specialty retailer’s stock.

Several other research analysts have also commented on the stock. KeyCorp lowered shares of Nordstrom from an “overweight” rating to a “sector weight” rating in a report on Thursday, September 26th. Telsey Advisory Group upped their target price on Nordstrom from $24.00 to $26.00 and gave the company a “market perform” rating in a report on Wednesday. Evercore ISI increased their price target on Nordstrom from $20.00 to $22.00 and gave the stock an “in-line” rating in a research report on Wednesday. Barclays upgraded Nordstrom from an “underweight” rating to an “equal weight” rating and boosted their price objective for the company from $18.00 to $23.00 in a research report on Thursday, September 5th. Finally, TD Cowen increased their target price on Nordstrom from $24.00 to $25.00 and gave the stock a “hold” rating in a research report on Wednesday, August 28th. Four research analysts have rated the stock with a sell rating, ten have given a hold rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $20.65.

Nordstrom Stock Performance

Shares of JWN stock opened at $22.62 on Wednesday. The stock has a market capitalization of $3.71 billion, a price-to-earnings ratio of 13.23 and a beta of 2.59. Nordstrom has a one year low of $14.80 and a one year high of $24.99. The company’s 50-day simple moving average is $22.86 and its 200-day simple moving average is $22.23. The company has a debt-to-equity ratio of 2.76, a quick ratio of 0.41 and a current ratio of 1.07.

Nordstrom (NYSE:JWN) last released its earnings results on Tuesday, November 26th. The specialty retailer reported $0.33 EPS for the quarter, topping analysts’ consensus estimates of $0.22 by $0.11. Nordstrom had a negative return on equity of 21.26% and a negative net margin of 1.44%. The company had revenue of $3.35 billion for the quarter, compared to the consensus estimate of $3.34 billion. During the same quarter last year, the business posted $0.25 EPS. Nordstrom’s quarterly revenue was up 4.6% compared to the same quarter last year. Equities analysts anticipate that Nordstrom will post 1.91 earnings per share for the current fiscal year.

Nordstrom Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Tuesday, December 3rd will be issued a $0.19 dividend. The ex-dividend date is Tuesday, December 3rd. This represents a $0.76 annualized dividend and a dividend yield of 3.36%. Nordstrom’s dividend payout ratio (DPR) is 44.44%.

Insider Buying and Selling

In other news, COO Alexis Depree sold 20,000 shares of the firm’s stock in a transaction dated Tuesday, September 24th. The shares were 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 in the company, valued at approximately $3,928,479.20. This trade represents a 10.56 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 5.78% of the stock is owned by corporate insiders.

Institutional Trading of Nordstrom

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its position in Nordstrom by 5.7% in the first quarter. Vanguard Group Inc. now owns 10,653,007 shares of the specialty retailer’s stock worth $215,936,000 after buying an additional 579,001 shares during the last quarter. CANADA LIFE ASSURANCE Co boosted its stake in shares of Nordstrom by 0.6% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 90,144 shares of the specialty retailer’s stock worth $1,828,000 after acquiring an additional 520 shares in the last quarter. Tidal Investments LLC acquired a new position in shares of Nordstrom in the 1st quarter worth $419,000. Comerica Bank grew its holdings in shares of Nordstrom by 59.9% in the 1st quarter. Comerica Bank now owns 75,806 shares of the specialty retailer’s stock worth $1,537,000 after acquiring an additional 28,411 shares during the last quarter. Finally, EMC Capital Management acquired a new stake in shares of Nordstrom during the first quarter worth $186,000. 88.73% of the stock is owned by institutional investors and hedge funds.

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.