Nordstrom’s (JWN) Market Perform Rating Reiterated at Telsey Advisory Group

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

A number of other research analysts have also commented on JWN. JPMorgan Chase & Co. increased their price objective on Nordstrom from $19.00 to $20.00 and gave the company an “underweight” rating in a report on Wednesday, August 28th. Barclays raised Nordstrom from an “underweight” rating to an “equal weight” rating and increased their price objective for the company from $18.00 to $23.00 in a report on Thursday, September 5th. StockNews.com raised Nordstrom from a “hold” rating to a “buy” rating in a report on Thursday, August 8th. TD Cowen increased their price objective on Nordstrom from $24.00 to $25.00 and gave the company a “hold” rating in a report on Wednesday, August 28th. Finally, BMO Capital Markets raised their target price on Nordstrom from $20.00 to $22.00 and gave the company a “market perform” rating in a report on Wednesday, August 28th. Three equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $20.58.

Nordstrom Stock Up 3.9 %

JWN opened at $23.24 on Wednesday. Nordstrom has a fifty-two week low of $14.39 and a fifty-two week high of $24.93. The business has a 50-day moving average of $22.75 and a 200-day moving average of $22.11. The company has a debt-to-equity ratio of 2.76, a current ratio of 1.07 and a quick ratio of 0.41. The company has a market capitalization of $3.82 billion, a PE ratio of 13.59 and a beta of 2.59.

Nordstrom (NYSE:JWN) last posted its quarterly earnings results on Tuesday, August 27th. The specialty retailer reported $0.96 earnings per share for the quarter, topping analysts’ consensus estimates of $0.71 by $0.25. The company had revenue of $3.89 billion during the quarter, compared to the consensus estimate of $3.88 billion. Nordstrom had a negative return on equity of 21.26% and a negative net margin of 1.44%. The business’s quarterly revenue was up 3.2% on a year-over-year basis. During the same period last year, the business earned $0.84 EPS. Equities research analysts forecast that Nordstrom will post 1.91 EPS for the current fiscal year.

Nordstrom Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Tuesday, December 3rd will be given a $0.19 dividend. The ex-dividend date is Tuesday, December 3rd. This represents a $0.76 dividend on an annualized basis and a dividend yield of 3.27%. Nordstrom’s dividend payout ratio is currently 44.44%.

Insiders Place Their Bets

In other Nordstrom news, COO Alexis Depree sold 20,000 shares of the firm’s stock in a transaction that occurred on 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 sale, the chief operating officer now owns 169,331 shares in the company, valued at approximately $3,928,479.20. This trade represents a 10.56 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 5.78% of the company’s stock.

Institutional Trading of Nordstrom

A number of hedge funds have recently modified their holdings of the company. Verition Fund Management LLC lifted its position in shares of Nordstrom by 147.4% during the 3rd quarter. Verition Fund Management LLC now owns 1,218,365 shares of the specialty retailer’s stock worth $27,401,000 after buying an additional 725,803 shares during the period. American Century Companies Inc. lifted its position in shares of Nordstrom by 66.2% during the 2nd quarter. American Century Companies Inc. now owns 1,661,227 shares of the specialty retailer’s stock worth $35,251,000 after buying an additional 661,769 shares during the period. Vanguard Group Inc. lifted its position in shares of Nordstrom by 5.7% during the 1st quarter. Vanguard Group Inc. now owns 10,653,007 shares of the specialty retailer’s stock worth $215,936,000 after buying an additional 579,001 shares during the period. Marshall Wace LLP lifted its position in shares of Nordstrom by 38.4% during the 2nd quarter. Marshall Wace LLP now owns 1,479,414 shares of the specialty retailer’s stock worth $31,393,000 after buying an additional 410,152 shares during the period. Finally, NewSquare Capital LLC bought a new position in shares of Nordstrom during the 2nd quarter worth approximately $7,783,000. 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.