Nordstrom’s (JWN) “Market Perform” Rating Reaffirmed at Telsey Advisory Group

Telsey Advisory Group reiterated their market perform rating on shares of Nordstrom (NYSE:JWN) in a research report report published on Wednesday,Benzinga reports. They currently have a $24.00 price target on the specialty retailer’s stock.

Other research analysts have also recently issued research reports about the stock. The Goldman Sachs Group upped their target price on shares of Nordstrom from $19.00 to $21.00 and gave the company a “neutral” rating in a research report on Wednesday, August 28th. Bank of America upped their price objective on shares of Nordstrom from $18.00 to $20.00 and gave the stock an “underperform” rating in a report on Wednesday, August 28th. StockNews.com upgraded shares of Nordstrom from a “hold” rating to a “buy” rating in a report on Thursday, August 8th. Citigroup boosted their target price on Nordstrom from $22.00 to $23.00 and gave the company a “neutral” rating in a research report on Tuesday, November 19th. Finally, JPMorgan Chase & Co. raised their price target on Nordstrom from $19.00 to $20.00 and gave the stock an “underweight” rating in a research report on Wednesday, August 28th. Three equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $20.58.

Nordstrom Stock Up 3.9 %

Shares of NYSE JWN opened at $23.24 on Wednesday. The company has a market capitalization of $3.82 billion, a P/E ratio of 13.59 and a beta of 2.59. 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 company has a 50 day simple moving average of $22.77 and a 200-day simple moving average of $22.13. Nordstrom has a 1 year low of $14.39 and a 1 year high of $24.93.

Nordstrom (NYSE:JWN) last posted its earnings results on Tuesday, August 27th. The specialty retailer reported $0.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.71 by $0.25. Nordstrom had a negative return on equity of 21.26% and a negative net margin of 1.44%. The company had revenue of $3.89 billion during the quarter, compared to analysts’ expectations of $3.88 billion. During the same quarter last year, the firm earned $0.84 earnings per share. The firm’s quarterly revenue was up 3.2% compared to the same quarter last year. On average, equities research analysts predict that Nordstrom will post 1.91 earnings per share for the current year.

Nordstrom Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Tuesday, December 3rd will be issued a dividend of $0.19 per share. The ex-dividend date is Tuesday, December 3rd. This represents a $0.76 annualized dividend and a yield of 3.27%. Nordstrom’s dividend payout ratio (DPR) is 44.44%.

Insider Buying and Selling at Nordstrom

In related news, COO Alexis Depree sold 20,000 shares of the company’s stock in a transaction that occurred on 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 directly owns 169,331 shares in the company, valued at approximately $3,928,479.20. This represents a 10.56 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 5.78% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in JWN. CANADA LIFE ASSURANCE Co boosted its position in shares of Nordstrom by 0.6% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 90,144 shares of the specialty retailer’s stock worth $1,828,000 after acquiring an additional 520 shares in the last quarter. Atlas Capital Advisors LLC lifted its stake in Nordstrom by 101.8% during the second 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. State of Alaska Department of Revenue boosted its holdings in Nordstrom by 7.3% in the third quarter. State of Alaska Department of Revenue now owns 11,236 shares of the specialty retailer’s stock valued at $252,000 after purchasing an additional 760 shares in the last quarter. Stephens Inc. AR increased its stake in Nordstrom by 0.5% in the third quarter. Stephens Inc. AR now owns 153,061 shares of the specialty retailer’s stock valued at $3,442,000 after purchasing an additional 805 shares during the last quarter. Finally, CWM LLC increased its stake in Nordstrom by 28.7% in the third quarter. CWM LLC now owns 3,628 shares of the specialty retailer’s stock valued at $82,000 after purchasing an additional 810 shares during the last quarter. Institutional investors and hedge funds own 88.73% of the company’s stock.

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.