StockNews.com Begins Coverage on Nordstrom (NYSE:JWN)

StockNews.com began coverage on shares of Nordstrom (NYSE:JWN) in a research note released on Saturday. The firm issued a buy rating on the specialty retailer’s stock.

A number of other research analysts also recently commented on the stock. Barclays increased their price target on shares of Nordstrom from $23.00 to $24.00 and gave the company an “equal weight” rating in a report on Thursday, January 16th. Citigroup raised their price objective on Nordstrom from $22.00 to $23.00 and gave the company a “neutral” rating in a research note on Tuesday, November 19th. Argus downgraded Nordstrom from a “buy” rating to a “sell” rating in a research report on Monday, December 30th. Bank of America raised their price target on Nordstrom from $20.00 to $22.00 and gave the stock an “underperform” rating in a research report on Wednesday, November 27th. Finally, Telsey Advisory Group reiterated a “market perform” rating and set a $24.00 price objective on shares of Nordstrom in a research report on Wednesday, March 5th. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $22.90.

Nordstrom Stock Up 0.1 %

Shares of JWN opened at $24.23 on Friday. The company has a debt-to-equity ratio of 2.65, a current ratio of 1.14 and a quick ratio of 0.35. The stock has a market capitalization of $4.00 billion, a price-to-earnings ratio of 15.43 and a beta of 2.60. Nordstrom has a 1 year low of $16.79 and a 1 year high of $24.99. The business’s 50 day simple moving average is $24.25 and its 200-day simple moving average is $23.46.

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

Nordstrom Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 26th. Shareholders of record on Tuesday, March 11th will be given a $0.19 dividend. The ex-dividend date of this dividend is Tuesday, March 11th. This represents a $0.76 annualized dividend and a yield of 3.14%. Nordstrom’s dividend payout ratio (DPR) is 44.19%.

Institutional Trading of Nordstrom

A number of large investors have recently modified their holdings of the company. Pinnacle Wealth Planning Services Inc. purchased a new position in Nordstrom during the 4th quarter worth $228,000. Michels Family Financial LLC bought a new position in shares of Nordstrom during the 4th quarter worth $724,000. BCK Capital Management LP purchased a new position in shares of Nordstrom during the fourth quarter valued at $712,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Nordstrom by 16.1% in the fourth 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 acquiring an additional 50,049 shares in the last quarter. Finally, Towle & Co. purchased a new stake in Nordstrom in the fourth quarter worth about $2,044,000. Hedge funds and other institutional investors own 88.73% of the company’s stock.

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.