Nordstrom (NYSE:JWN) Shares Up 4.5% – Here’s Why

Nordstrom, Inc. (NYSE:JWN)’s stock price shot up 4.5% during trading on Thursday . The company traded as high as $24.08 and last traded at $23.93. 475,349 shares were traded during trading, a decline of 84% from the average session volume of 3,003,008 shares. The stock had previously closed at $22.89.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on JWN shares. Bank of America boosted their target price on shares of Nordstrom from $20.00 to $22.00 and gave the company an “underperform” rating in a research note on Wednesday, November 27th. KeyCorp downgraded shares of Nordstrom from an “overweight” rating to a “sector weight” rating in a research report on Thursday, September 26th. Barclays raised shares of Nordstrom from an “underweight” rating to an “equal weight” rating and raised their target price for the stock from $18.00 to $23.00 in a report on Thursday, September 5th. StockNews.com lowered Nordstrom from a “strong-buy” rating to a “buy” rating in a report on Thursday, December 5th. Finally, The Goldman Sachs Group raised their price target on Nordstrom from $19.00 to $21.00 and gave the stock a “neutral” rating in a report on Wednesday, August 28th. Three investment analysts have rated the stock with a sell rating, ten have issued a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $21.29.

Nordstrom Stock Up 5.2 %

The stock has a market capitalization of $3.97 billion, a P/E ratio of 15.33 and a beta of 2.56. The stock’s fifty day moving average is $23.10 and its two-hundred day moving average is $22.40. The company has a debt-to-equity ratio of 2.65, a current ratio of 1.14 and a quick ratio of 0.35.

Nordstrom (NYSE:JWN) last issued its quarterly earnings results on Tuesday, November 26th. The specialty retailer reported $0.33 earnings per share for the quarter, topping analysts’ consensus estimates of $0.22 by $0.11. The firm had revenue of $3.35 billion for the quarter, compared to analysts’ expectations of $3.34 billion. Nordstrom had a negative return on equity of 18.04% and a negative net margin of 1.57%. Nordstrom’s revenue was up 4.6% on a year-over-year basis. During the same quarter last year, the business posted $0.25 EPS. As a group, research analysts predict that Nordstrom, Inc. will post 1.94 earnings per share for the current fiscal year.

Nordstrom Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 18th. Stockholders of record on Tuesday, December 3rd were issued a $0.19 dividend. The ex-dividend date was Tuesday, December 3rd. This represents a $0.76 dividend on an annualized basis and a dividend yield of 3.16%. Nordstrom’s dividend payout ratio is 48.41%.

Insider Buying and Selling

In other Nordstrom news, COO Alexis Depree sold 20,000 shares of the business’s 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 transaction, the chief operating officer now owns 169,331 shares in the company, valued at $3,928,479.20. The trade was a 10.56 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 5.78% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Blue Trust Inc. raised its stake in shares of Nordstrom by 10,045.8% in the 2nd quarter. Blue Trust Inc. now owns 2,435 shares of the specialty retailer’s stock valued at $49,000 after acquiring an additional 2,411 shares in the last quarter. Raymond James & Associates lifted its stake in shares of Nordstrom by 2.0% in the second quarter. Raymond James & Associates now owns 91,157 shares of the specialty retailer’s stock worth $1,934,000 after buying an additional 1,747 shares during the last quarter. Ceredex Value Advisors LLC acquired a new stake in shares of Nordstrom in the second quarter worth $7,310,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Nordstrom by 11.5% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 21,790 shares of the specialty retailer’s stock worth $462,000 after buying an additional 2,244 shares during the period. Finally, Arjuna Capital acquired a new position in Nordstrom in the 2nd quarter valued at $1,518,000. 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.