Nordstrom (NYSE:JWN) Upgraded to “Strong-Buy” at StockNews.com

StockNews.com upgraded shares of Nordstrom (NYSE:JWN) from a buy rating to a strong-buy rating in a report released on Wednesday morning.

A number of other equities research analysts have also recently commented on the stock. UBS Group increased their price objective on shares of Nordstrom from $13.00 to $14.50 and gave the company a “sell” rating in a research note on Wednesday. The Goldman Sachs Group raised their price objective on shares of Nordstrom from $19.00 to $21.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 28th. Citigroup upped their target price on Nordstrom from $22.00 to $23.00 and gave the company a “neutral” rating in a research note on Tuesday, November 19th. KeyCorp downgraded Nordstrom from an “overweight” rating to a “sector weight” rating in a research report on Thursday, September 26th. Finally, Evercore ISI upped their price objective on Nordstrom from $20.00 to $22.00 and gave the company an “in-line” rating in a research report on Wednesday. Four research analysts have rated the stock with a sell rating, ten have issued a hold rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $20.65.

Nordstrom Trading Down 8.1 %

Shares of JWN opened at $22.62 on Wednesday. Nordstrom has a twelve month low of $14.80 and a twelve month high of $24.99. The company has a current ratio of 1.07, a quick ratio of 0.41 and a debt-to-equity ratio of 2.76. The firm has a market capitalization of $3.71 billion, a P/E ratio of 13.23 and a beta of 2.59. The firm’s 50-day moving average is $22.86 and its two-hundred day moving average is $22.23.

Nordstrom (NYSE:JWN) last released its quarterly earnings data on Tuesday, November 26th. The specialty retailer reported $0.33 earnings per share for the quarter, beating the consensus estimate of $0.22 by $0.11. The firm had revenue of $3.35 billion during the quarter, compared to the consensus estimate of $3.34 billion. Nordstrom had a negative return on equity of 21.26% and a negative net margin of 1.44%. Nordstrom’s quarterly revenue was up 4.6% on a year-over-year basis. During the same period last year, the business posted $0.25 EPS. On average, research analysts predict that Nordstrom will post 1.91 earnings per share 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. The ex-dividend date of this dividend is Tuesday, December 3rd. This represents a $0.76 dividend on an annualized basis and a dividend yield of 3.36%. Nordstrom’s dividend payout ratio (DPR) is presently 44.44%.

Insider Transactions at Nordstrom

In other Nordstrom news, COO Alexis Depree sold 20,000 shares of the company’s stock in a transaction dated 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 sale, the chief operating officer now directly owns 169,331 shares in the company, valued at $3,928,479.20. This represents a 10.56 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 5.78% of the company’s stock.

Institutional Trading of Nordstrom

A number of institutional investors have recently modified their holdings of JWN. Franklin Resources Inc. raised its holdings in Nordstrom by 29.9% in the third quarter. Franklin Resources Inc. now owns 50,294 shares of the specialty retailer’s stock valued at $1,152,000 after buying an additional 11,583 shares during the period. Tidal Investments LLC raised its stake in shares of Nordstrom by 47.8% in the 3rd quarter. Tidal Investments LLC now owns 17,602 shares of the specialty retailer’s stock valued at $396,000 after acquiring an additional 5,690 shares during the period. Sanctuary Advisors LLC raised its stake in shares of Nordstrom by 160.9% in the 3rd quarter. Sanctuary Advisors LLC now owns 51,071 shares of the specialty retailer’s stock valued at $1,187,000 after acquiring an additional 31,498 shares during the period. Virtu Financial LLC acquired a new position in shares of Nordstrom during the 3rd quarter valued at $451,000. Finally, Geode Capital Management LLC boosted its position in Nordstrom by 0.3% during the 3rd quarter. Geode Capital Management LLC now owns 1,625,616 shares of the specialty retailer’s stock worth $36,570,000 after purchasing an additional 5,407 shares during the period. Hedge funds and other institutional investors own 88.73% 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.