Brokerages Set Nordstrom, Inc. (NYSE:JWN) Price Target at $20.33

Nordstrom, Inc. (NYSE:JWN) has earned a consensus recommendation of “Reduce” from the thirteen analysts that are currently covering the company, MarketBeat reports. Three equities research analysts have rated the stock with a sell recommendation and ten have given a hold recommendation to the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $20.58.

JWN has been the topic of a number of recent research reports. TD Cowen lifted their target price on shares of Nordstrom from $24.00 to $25.00 and gave the company a “hold” rating in a report on Wednesday, August 28th. Bank of America boosted their target price on Nordstrom from $18.00 to $20.00 and gave the stock an “underperform” rating in a research report on Wednesday, August 28th. JPMorgan Chase & Co. lifted their price target on Nordstrom from $19.00 to $20.00 and gave the stock an “underweight” rating in a research note on Wednesday, August 28th. KeyCorp cut shares of Nordstrom from an “overweight” rating to a “sector weight” rating in a research note on Thursday, September 26th. Finally, Telsey Advisory Group restated a “market perform” rating and set a $24.00 target price on shares of Nordstrom in a research report on Wednesday.

Nordstrom Stock Up 3.9 %

NYSE:JWN opened at $23.24 on Friday. The stock’s fifty day moving average is $22.75 and its two-hundred day moving average is $22.11. Nordstrom has a 52 week low of $14.39 and a 52 week high of $24.93. The stock has a market capitalization of $3.82 billion, a price-to-earnings ratio of 13.59 and a beta of 2.59. 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 announced its quarterly earnings results 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. Nordstrom had a negative return on equity of 21.26% and a negative net margin of 1.44%. The firm had revenue of $3.89 billion during the quarter, compared to the consensus estimate of $3.88 billion. During the same period in the prior year, the company posted $0.84 earnings per share. The firm’s quarterly revenue was up 3.2% compared to the same quarter last year. Research analysts anticipate that Nordstrom will post 1.91 EPS for the current year.

Nordstrom Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Tuesday, December 3rd will be given a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 3.27%. The ex-dividend date is Tuesday, December 3rd. Nordstrom’s dividend payout ratio (DPR) is presently 44.44%.

Insider Activity at Nordstrom

In related news, COO Alexis Depree sold 20,000 shares of the stock in a transaction dated 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 transaction, the chief operating officer now owns 169,331 shares of the company’s stock, valued at approximately $3,928,479.20. This represents a 10.56 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 5.78% of the company’s stock.

Hedge Funds Weigh In On Nordstrom

Several institutional investors and hedge funds have recently made changes to their positions in the business. Verition Fund Management LLC raised its stake in shares of Nordstrom by 147.4% in the 3rd quarter. Verition Fund Management LLC now owns 1,218,365 shares of the specialty retailer’s stock valued at $27,401,000 after purchasing an additional 725,803 shares in the last quarter. American Century Companies Inc. raised its stake in Nordstrom by 66.2% during the second quarter. American Century Companies Inc. now owns 1,661,227 shares of the specialty retailer’s stock valued at $35,251,000 after buying an additional 661,769 shares in the last quarter. Vanguard Group Inc. grew its position in shares of Nordstrom by 5.7% in the 1st quarter. Vanguard Group Inc. now owns 10,653,007 shares of the specialty retailer’s stock worth $215,936,000 after acquiring an additional 579,001 shares in the last quarter. Marshall Wace LLP increased its holdings in shares of Nordstrom by 38.4% in the 2nd quarter. Marshall Wace LLP now owns 1,479,414 shares of the specialty retailer’s stock valued at $31,393,000 after acquiring an additional 410,152 shares during the last quarter. Finally, NewSquare Capital LLC acquired a new stake in shares of Nordstrom during the 2nd quarter valued at approximately $7,783,000. 88.73% of the stock is currently owned by hedge funds and other institutional investors.

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.