Nordstrom (NYSE:JWN) Sets New 1-Year High – Time to Buy?

Shares of Nordstrom, Inc. (NYSE:JWN) hit a new 52-week high on Monday . The stock traded as high as $24.99 and last traded at $24.90, with a volume of 5057686 shares trading hands. The stock had previously closed at $23.24.

Wall Street Analysts Forecast Growth

JWN has been the topic of a number of analyst reports. TD Cowen boosted their price objective on shares of Nordstrom from $24.00 to $25.00 and gave the company a “hold” rating in a research report on Wednesday, August 28th. Bank of America upped their price target on Nordstrom from $20.00 to $22.00 and gave the company an “underperform” rating in a research report on Wednesday. Telsey Advisory Group boosted their target price on Nordstrom from $24.00 to $26.00 and gave the company a “market perform” rating in a research note on Wednesday. StockNews.com upgraded shares of Nordstrom from a “hold” rating to a “buy” rating in a report on Thursday, August 8th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Nordstrom from $19.00 to $20.00 and gave the stock an “underweight” rating in a report on Wednesday, August 28th. Four research analysts have rated the stock with a sell rating, ten have given a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $20.65.

Nordstrom Stock Performance

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 business has a 50 day moving average price of $22.86 and a 200 day moving average price of $22.23. The stock has a market capitalization of $3.71 billion, a PE ratio of 13.23 and a beta of 2.59.

Nordstrom (NYSE:JWN) last announced its quarterly earnings data on Tuesday, November 26th. The specialty retailer reported $0.33 EPS for the quarter, beating the consensus estimate 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%. Nordstrom’s revenue for the quarter was up 4.6% on a year-over-year basis. During the same period in the prior year, the firm posted $0.25 EPS. As a group, equities research analysts expect that Nordstrom, Inc. will post 1.91 earnings per share for the current year.

Nordstrom Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Investors 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 3.36%. The ex-dividend date is Tuesday, December 3rd. Nordstrom’s dividend payout ratio (DPR) is currently 44.44%.

Insider Activity at Nordstrom

In other news, COO Alexis Depree sold 20,000 shares of the firm’s stock in a transaction dated Tuesday, September 24th. The shares were sold at an average price of $23.20, for a total transaction of $464,000.00. Following the sale, the chief operating officer now owns 169,331 shares of the company’s stock, valued at $3,928,479.20. This trade represents a 10.56 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 5.78% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. increased its position in Nordstrom by 5.7% during the first quarter. Vanguard Group Inc. now owns 10,653,007 shares of the specialty retailer’s stock valued at $215,936,000 after acquiring an additional 579,001 shares during the last quarter. Acadian Asset Management LLC lifted its stake in shares of Nordstrom by 217.5% in the 1st quarter. Acadian Asset Management LLC now owns 4,670 shares of the specialty retailer’s stock worth $94,000 after purchasing an additional 3,199 shares during the period. CANADA LIFE ASSURANCE Co boosted its holdings in shares of Nordstrom by 0.6% in the first quarter. CANADA LIFE ASSURANCE Co now owns 90,144 shares of the specialty retailer’s stock worth $1,828,000 after buying an additional 520 shares during the last quarter. Tidal Investments LLC bought a new stake in Nordstrom during the first quarter valued at approximately $419,000. Finally, Comerica Bank increased its holdings in Nordstrom by 59.9% during the first quarter. Comerica Bank now owns 75,806 shares of the specialty retailer’s stock valued at $1,537,000 after buying an additional 28,411 shares during the last quarter. 88.73% of the stock is owned by hedge funds and other institutional investors.

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.