Nordstrom, Inc. (NYSE:JWN) Receives Consensus Recommendation of “Reduce” from Analysts

Nordstrom, Inc. (NYSE:JWN) has earned a consensus recommendation of “Reduce” from the thirteen ratings firms that are covering the firm, MarketBeat.com reports. Three equities research analysts have rated the stock with a sell recommendation and ten have issued a hold recommendation on the company. The average 12-month price target among analysts that have covered the stock in the last year is $21.29.

JWN has been the topic of a number of research reports. 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, November 27th. Citigroup lifted their price target on shares of Nordstrom from $22.00 to $23.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 19th. The Goldman Sachs Group upped their price objective on Nordstrom from $19.00 to $21.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 28th. TD Cowen raised their target price on shares of Nordstrom from $24.00 to $25.00 and gave the stock a “hold” rating in a research note on Wednesday, August 28th. Finally, Barclays upgraded Nordstrom from an “underweight” rating to an “equal weight” rating and increased their target price for the stock from $18.00 to $23.00 in a research report on Thursday, September 5th.

Nordstrom Trading Down 0.8 %

NYSE:JWN opened at $23.16 on Wednesday. The company has a market cap of $3.82 billion, a PE ratio of 14.75 and a beta of 2.56. The company has a current ratio of 1.14, a quick ratio of 0.35 and a debt-to-equity ratio of 2.65. The company has a 50 day simple moving average of $23.08 and a two-hundred day simple moving average of $22.40. Nordstrom has a 12 month low of $16.63 and a 12 month high of $24.99.

Nordstrom (NYSE:JWN) last issued its quarterly earnings data on Tuesday, November 26th. The specialty retailer reported $0.33 EPS for the quarter, topping the consensus estimate of $0.22 by $0.11. Nordstrom had a negative return on equity of 18.04% and a negative net margin of 1.57%. The company had revenue of $3.35 billion during the quarter, compared to analyst estimates of $3.34 billion. During the same quarter in the previous year, the company posted $0.25 earnings per share. Nordstrom’s revenue was up 4.6% compared to the same quarter last year. Research analysts forecast that Nordstrom will post 1.94 earnings per share for the current year.

Nordstrom Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Tuesday, December 3rd will be given a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 3.28%. The ex-dividend date of this dividend is Tuesday, December 3rd. Nordstrom’s dividend payout ratio is currently 48.41%.

Insider Activity at Nordstrom

In other Nordstrom news, COO Alexis Depree sold 20,000 shares of the business’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 transaction of $464,000.00. Following the completion of 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 filing with the Securities & Exchange Commission, which is available at this link. 5.78% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Nordstrom

A number of large investors have recently bought and sold shares of the business. Venturi Wealth Management LLC increased its stake in shares of Nordstrom by 355.9% during the third quarter. Venturi Wealth Management LLC now owns 1,272 shares of the specialty retailer’s stock valued at $29,000 after buying an additional 993 shares during the period. Atlas Capital Advisors LLC lifted its stake in shares of Nordstrom by 101.8% during the 2nd quarter. Atlas Capital Advisors LLC now owns 1,491 shares of the specialty retailer’s stock worth $32,000 after purchasing an additional 752 shares during the last quarter. Rothschild Investment LLC bought a new stake in Nordstrom during the second quarter valued at about $39,000. Blue Trust Inc. grew its stake in Nordstrom by 10,045.8% in the second quarter. Blue Trust Inc. now owns 2,435 shares of the specialty retailer’s stock valued at $49,000 after purchasing an additional 2,411 shares during the last quarter. Finally, Point72 Hong Kong Ltd bought a new position in Nordstrom in the second quarter worth about $71,000. 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.