Nordstrom (NYSE:JWN) Downgraded by Argus to “Sell”

Argus lowered shares of Nordstrom (NYSE:JWN) from a buy rating to a sell rating in a research report report published on Monday, MarketBeat reports.

Several other equities research analysts have also recently weighed in on JWN. Barclays upgraded shares of Nordstrom from an “underweight” rating to an “equal weight” rating and boosted their price target for the stock from $18.00 to $23.00 in a research report on Thursday, September 5th. KeyCorp cut shares of Nordstrom from an “overweight” rating to a “sector weight” rating in a research report on Thursday, September 26th. UBS Group lifted their price target on Nordstrom from $13.00 to $14.50 and gave the stock a “sell” rating in a research report on Wednesday, November 27th. Telsey Advisory Group decreased their price objective on Nordstrom from $26.00 to $24.00 and set a “market perform” rating on the stock in a research report on Tuesday, December 24th. Finally, Citigroup lifted their target price on Nordstrom from $22.00 to $23.00 and gave the stock a “neutral” rating in a report on Tuesday, November 19th. Four equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, Nordstrom has a consensus rating of “Hold” and an average price target of $21.13.

Nordstrom Stock Performance

Shares of NYSE JWN opened at $24.15 on Monday. The firm’s fifty day moving average is $23.24 and its two-hundred day moving average is $22.58. Nordstrom has a 52-week low of $16.63 and a 52-week high of $24.99. The company has a market cap of $3.99 billion, a P/E ratio of 15.38 and a beta of 2.56. The company has a debt-to-equity ratio of 2.65, a quick ratio of 0.35 and a current ratio of 1.14.

Nordstrom (NYSE:JWN) last posted its earnings results on Tuesday, November 26th. The specialty retailer reported $0.33 EPS for the quarter, topping 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 return on equity of 18.04% and a negative net margin of 1.57%. During the same period in the previous year, the business earned $0.25 earnings per share. The firm’s revenue for the quarter was up 4.6% on a year-over-year basis. As a group, analysts anticipate that Nordstrom will post 1.94 EPS for the current fiscal year.

Nordstrom Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 18th. Stockholders of record on Tuesday, December 3rd were issued a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 3.15%. The ex-dividend date of this dividend was Tuesday, December 3rd. Nordstrom’s payout ratio is presently 48.41%.

Institutional Investors Weigh In On Nordstrom

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Verition Fund Management LLC increased its position in shares of Nordstrom by 147.4% during the third quarter. Verition Fund Management LLC now owns 1,218,365 shares of the specialty retailer’s stock worth $27,401,000 after acquiring an additional 725,803 shares during the period. American Century Companies Inc. grew its stake in Nordstrom by 66.2% in the second quarter. American Century Companies Inc. now owns 1,661,227 shares of the specialty retailer’s stock worth $35,251,000 after purchasing an additional 661,769 shares in the last quarter. Marshall Wace LLP increased its holdings in 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 purchasing an additional 410,152 shares during the period. Axiom Advisory LLC raised its position in Nordstrom by 46.0% during the 3rd quarter. Axiom Advisory LLC now owns 1,100,864 shares of the specialty retailer’s stock valued at $24,456,000 after purchasing an additional 346,994 shares in the last quarter. Finally, Cyndeo Wealth Partners LLC purchased a new stake in shares of Nordstrom in the 3rd quarter worth $6,248,000. 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.