Nordstrom (NYSE:JWN) Price Target Raised to $14.50

Nordstrom (NYSE:JWN) had its price objective increased by UBS Group from $13.00 to $14.50 in a report issued on Wednesday,Benzinga reports. They currently have a sell rating on the specialty retailer’s stock.

Several other equities research analysts have also weighed in on the company. Barclays upgraded Nordstrom from an “underweight” rating to an “equal weight” rating and boosted their target price for the stock from $18.00 to $23.00 in a report on Thursday, September 5th. KeyCorp cut shares of Nordstrom from an “overweight” rating to a “sector weight” rating in a research note on Thursday, September 26th. Evercore ISI raised their target price on shares of Nordstrom from $20.00 to $22.00 and gave the company an “in-line” rating in a research note on Wednesday. Citigroup boosted their target price on shares of Nordstrom from $22.00 to $23.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 19th. Finally, BMO Capital Markets upped their price target on shares of Nordstrom from $20.00 to $22.00 and gave the company a “market perform” rating in a report on Wednesday, August 28th. Three investment analysts have rated the stock with a sell rating, ten have issued a hold rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Nordstrom presently has a consensus rating of “Hold” and a consensus price target of $21.29.

Nordstrom Price Performance

NYSE JWN opened at $22.71 on Wednesday. The company has a 50 day moving average price of $22.85 and a two-hundred day moving average price of $22.24. Nordstrom has a 12-month low of $15.08 and a 12-month high of $24.99. The stock has a market capitalization of $3.73 billion, a PE ratio of 14.47 and a beta of 2.59. The company has a quick ratio of 0.41, a current ratio of 1.14 and a debt-to-equity ratio of 2.65.

Nordstrom (NYSE:JWN) last issued its quarterly earnings data on Tuesday, November 26th. The specialty retailer reported $0.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.22 by $0.11. Nordstrom had a negative net margin of 1.57% and a negative return on equity of 18.04%. The firm had revenue of $3.35 billion during the quarter, compared to analysts’ expectations of $3.34 billion. During the same period in the prior year, the company posted $0.25 earnings per share. Nordstrom’s revenue for the quarter was up 4.6% on a year-over-year basis. As a group, equities analysts predict that Nordstrom will post 1.93 earnings per share for the current fiscal year.

Nordstrom Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Tuesday, December 3rd will be issued a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 3.35%. The ex-dividend date of this dividend is Tuesday, December 3rd. Nordstrom’s payout ratio is presently 48.41%.

Insider Activity

In other Nordstrom news, COO Alexis Depree sold 20,000 shares of Nordstrom stock in a transaction 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 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 transaction 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 company insiders.

Hedge Funds Weigh In On Nordstrom

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Franklin Resources Inc. raised its position in Nordstrom by 29.9% in the third quarter. Franklin Resources Inc. now owns 50,294 shares of the specialty retailer’s stock worth $1,152,000 after purchasing an additional 11,583 shares in the last quarter. Tidal Investments LLC grew its stake in shares of Nordstrom by 47.8% in the 3rd quarter. Tidal Investments LLC now owns 17,602 shares of the specialty retailer’s stock valued at $396,000 after purchasing an additional 5,690 shares during the period. Sanctuary Advisors LLC grew its stake in shares of Nordstrom by 160.9% in the 3rd quarter. Sanctuary Advisors LLC now owns 51,071 shares of the specialty retailer’s stock valued at $1,187,000 after purchasing an additional 31,498 shares during the period. Virtu Financial LLC acquired a new position in shares of Nordstrom in the 3rd quarter worth approximately $451,000. Finally, Geode Capital Management LLC lifted its position in shares of Nordstrom by 0.3% during the 3rd quarter. Geode Capital Management LLC now owns 1,625,616 shares of the specialty retailer’s stock worth $36,570,000 after buying an additional 5,407 shares during the period. 88.73% of the stock is owned by 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.