Nordstrom (NYSE:JWN) Receives “Market Perform” Rating from Telsey Advisory Group

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

JWN has been the topic of a number of other reports. Evercore ISI boosted their price target on Nordstrom from $22.00 to $24.00 and gave the stock an “in-line” rating in a research report on Monday, January 13th. Citigroup boosted their price target on Nordstrom from $22.00 to $23.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 19th. Barclays boosted their price target on Nordstrom from $23.00 to $24.00 and gave the stock an “equal weight” rating in a research report on Thursday, January 16th. StockNews.com started coverage on Nordstrom in a research report on Thursday, February 27th. They issued a “buy” rating on the stock. Finally, Argus cut Nordstrom from a “buy” rating to a “sell” rating in a research report on Monday, December 30th. Three analysts have rated the stock with a sell rating, eleven have given a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, Nordstrom presently has an average rating of “Hold” and an average price target of $22.17.

Nordstrom Stock Performance

Nordstrom stock opened at $24.35 on Wednesday. The stock’s 50 day simple moving average is $24.23 and its two-hundred day simple moving average is $23.30. The company has a debt-to-equity ratio of 2.65, a quick ratio of 0.35 and a current ratio of 1.14. The stock has a market cap of $4.02 billion, a price-to-earnings ratio of 15.51 and a beta of 2.51. Nordstrom has a fifty-two week low of $16.78 and a fifty-two week high of $24.99.

Nordstrom (NYSE:JWN) last posted its quarterly earnings data on Tuesday, March 4th. The specialty retailer reported $1.10 earnings per share for the quarter, beating the consensus estimate of $0.90 by $0.20. Nordstrom had a negative return on equity of 18.04% and a negative net margin of 1.57%. The business had revenue of $4.32 billion for the quarter, compared to analysts’ expectations of $4.32 billion. As a group, analysts expect that Nordstrom will post 1.97 earnings per share for the current fiscal year.

Nordstrom Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 26th. Shareholders of record on Tuesday, March 11th will be paid a dividend of $0.19 per share. The ex-dividend date is Tuesday, March 11th. This represents a $0.76 dividend on an annualized basis and a yield of 3.12%. Nordstrom’s dividend payout ratio is presently 48.41%.

Institutional Investors Weigh In On Nordstrom

A number of hedge funds have recently added to or reduced their stakes in the stock. Pinnacle Wealth Planning Services Inc. purchased a new stake in Nordstrom during the 4th quarter valued at $228,000. Michels Family Financial LLC purchased a new stake in Nordstrom during the 4th quarter valued at $724,000. BCK Capital Management LP purchased a new stake in Nordstrom during the 4th quarter valued at $712,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Nordstrom by 16.1% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 360,627 shares of the specialty retailer’s stock valued at $8,709,000 after buying an additional 50,049 shares during the last quarter. Finally, Towle & Co. purchased a new stake in shares of Nordstrom in the 4th quarter worth $2,044,000. 88.73% of the stock is currently owned by hedge funds and other institutional investors.

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.