Brokerages Set Nordstrom, Inc. (NYSE:JWN) Price Target at $22.17

Shares of Nordstrom, Inc. (NYSE:JWN) have been given an average rating of “Reduce” by the fourteen ratings firms that are currently covering the firm, MarketBeat reports. Three analysts have rated the stock with a sell recommendation and eleven have given a hold recommendation to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $22.17.

A number of analysts recently issued reports on JWN shares. 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. Bank of America upped their target price on shares of Nordstrom from $20.00 to $22.00 and gave the company an “underperform” rating in a research note on Wednesday, November 27th. Telsey Advisory Group reiterated a “market perform” rating and issued a $24.00 price target on shares of Nordstrom in a research note on Monday, January 13th. StockNews.com initiated coverage on Nordstrom in a research note on Monday. They set a “buy” rating on the stock. Finally, UBS Group upgraded Nordstrom from a “sell” rating to a “neutral” rating and boosted their price target for the company from $14.50 to $24.00 in a report on Friday, January 10th.

Hedge Funds Weigh In On Nordstrom

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. US Bancorp DE boosted its stake in Nordstrom by 1.4% during the fourth quarter. US Bancorp DE now owns 59,253 shares of the specialty retailer’s stock valued at $1,431,000 after buying an additional 792 shares in the last quarter. Versor Investments LP acquired a new stake in Nordstrom in the 4th quarter valued at about $9,409,000. Proficio Capital Partners LLC bought a new position in shares of Nordstrom during the 4th quarter valued at about $365,000. Amalgamated Bank grew its stake in shares of Nordstrom by 1.4% in the 4th quarter. Amalgamated Bank now owns 45,083 shares of the specialty retailer’s stock worth $1,089,000 after purchasing an additional 617 shares during the last quarter. Finally, Wolverine Asset Management LLC bought a new stake in shares of Nordstrom in the 4th quarter worth approximately $63,000. 88.73% of the stock is owned by institutional investors.

Nordstrom Trading Up 0.1 %

Shares of JWN opened at $24.28 on Thursday. Nordstrom has a 12 month low of $16.78 and a 12 month high of $24.99. The stock’s 50-day moving average is $23.82 and its two-hundred day moving average is $22.95. The company has a debt-to-equity ratio of 2.65, a current ratio of 1.14 and a quick ratio of 0.35. The stock has a market cap of $4.01 billion, a PE ratio of 15.47 and a beta of 2.51.

Nordstrom (NYSE:JWN) last released its quarterly earnings results on Tuesday, November 26th. The specialty retailer reported $0.33 earnings per share for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $3.35 billion during the quarter, compared to analysts’ expectations of $3.34 billion. During the same quarter in the prior year, the business earned $0.25 EPS. Nordstrom’s quarterly revenue was up 4.6% compared to the same quarter last year. Equities analysts forecast that Nordstrom will post 1.97 earnings per share for the current fiscal year.

Nordstrom Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 18th. Investors of record on Tuesday, December 3rd were issued a $0.19 dividend. The ex-dividend date of this dividend was Tuesday, December 3rd. This represents a $0.76 dividend on an annualized basis and a dividend yield of 3.13%. Nordstrom’s dividend payout ratio (DPR) is presently 48.41%.

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.