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 research note released on Wednesday.

Other analysts also recently issued reports about the company. TD Cowen lifted their price target on Nordstrom from $24.00 to $25.00 and gave the stock a “hold” rating in a report on Wednesday, August 28th. Barclays raised Nordstrom from an “underweight” rating to an “equal weight” rating and upped their price target for the company from $18.00 to $23.00 in a report on Thursday, September 5th. Telsey Advisory Group raised their price objective on shares of Nordstrom from $24.00 to $26.00 and gave the stock a “market perform” rating in a report on Wednesday. JPMorgan Chase & Co. boosted their price objective on shares of Nordstrom from $19.00 to $20.00 and gave the stock an “underweight” rating in a research report on Wednesday, August 28th. Finally, Citigroup increased their target price on shares of Nordstrom from $22.00 to $23.00 and gave the company a “neutral” rating in a research report on Tuesday, November 19th. Four equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $20.65.

Nordstrom Stock Performance

Shares of Nordstrom stock opened at $22.62 on Wednesday. The business has a 50-day simple moving average of $22.86 and a 200-day simple moving average of $22.23. The company has a market cap of $3.71 billion, a PE ratio of 13.23 and a beta of 2.59. Nordstrom has a one year low of $14.80 and a one year high of $24.99. The company has a debt-to-equity ratio of 2.76, a quick ratio of 0.41 and a current ratio of 1.07.

Nordstrom (NYSE:JWN) last announced its quarterly earnings data on Tuesday, November 26th. The specialty retailer reported $0.33 EPS for the quarter, beating analysts’ consensus estimates of $0.22 by $0.11. The company had revenue of $3.35 billion for the quarter, compared to the consensus estimate of $3.34 billion. Nordstrom had a negative net margin of 1.44% and a negative return on equity of 21.26%. The company’s quarterly revenue was up 4.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.25 EPS. On average, equities research analysts forecast that Nordstrom will post 1.91 EPS for the current fiscal year.

Nordstrom Dividend Announcement

The business 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 dividend of $0.19 per share. The ex-dividend date is Tuesday, December 3rd. This represents a $0.76 dividend on an annualized basis and a yield of 3.36%. Nordstrom’s payout ratio is 44.44%.

Insider Buying and Selling at Nordstrom

In related news, COO Alexis Depree sold 20,000 shares of the stock in a transaction on 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 of the company’s stock, valued at $3,928,479.20. This trade represents a 10.56 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 5.78% of the company’s stock.

Hedge Funds Weigh In On Nordstrom

Several institutional investors have recently bought and sold shares of the company. Venturi Wealth Management LLC boosted its holdings in shares of Nordstrom by 355.9% in the third quarter. Venturi Wealth Management LLC now owns 1,272 shares of the specialty retailer’s stock valued at $29,000 after acquiring an additional 993 shares in the last quarter. Atlas Capital Advisors LLC lifted its position in Nordstrom by 101.8% in the second quarter. Atlas Capital Advisors LLC now owns 1,491 shares of the specialty retailer’s stock valued at $32,000 after purchasing an additional 752 shares during the period. Rothschild Investment LLC purchased a new stake in Nordstrom in the 2nd quarter valued at approximately $39,000. Blue Trust Inc. increased its position in Nordstrom by 10,045.8% during the 2nd quarter. Blue Trust Inc. now owns 2,435 shares of the specialty retailer’s stock worth $49,000 after purchasing an additional 2,411 shares during the period. Finally, Point72 Hong Kong Ltd purchased a new position in shares of Nordstrom during the 2nd quarter worth approximately $71,000. 88.73% of the stock is owned by institutional investors and hedge funds.

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.