Nordstrom (NYSE:JWN) Upgraded at StockNews.com

StockNews.com upgraded shares of Nordstrom (NYSE:JWN) from a buy rating to a strong-buy rating in a research report released on Wednesday morning.

Several other equities research analysts have also recently weighed in on the company. UBS Group increased their price objective on Nordstrom from $13.00 to $14.50 and gave the stock a “sell” rating in a report on Wednesday. KeyCorp downgraded Nordstrom from an “overweight” rating to a “sector weight” rating in a report on Thursday, September 26th. Evercore ISI lifted their price target on shares of Nordstrom from $20.00 to $22.00 and gave the company an “in-line” rating in a report on Wednesday. TD Cowen upped their price objective on shares of Nordstrom from $24.00 to $25.00 and gave the stock a “hold” rating in a report on Wednesday, August 28th. Finally, BMO Capital Markets raised their target price on shares of Nordstrom from $20.00 to $22.00 and gave the stock a “market perform” rating in a research report on Wednesday, August 28th. Three equities research analysts have rated the stock with a sell rating, ten have given a hold rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Nordstrom presently has an average rating of “Hold” and an average target price of $21.29.

Nordstrom Stock Up 0.4 %

Shares of NYSE JWN opened at $22.71 on Wednesday. The firm’s fifty day moving average is $22.85 and its 200 day moving average is $22.24. Nordstrom has a 52 week low of $15.08 and a 52 week high of $24.99. The company has a quick ratio of 0.41, a current ratio of 1.14 and a debt-to-equity ratio of 2.65. The company has a market cap of $3.73 billion, a price-to-earnings ratio of 14.47 and a beta of 2.59.

Nordstrom (NYSE:JWN) last announced its quarterly earnings results 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. The business had revenue of $3.35 billion for the quarter, compared to analyst estimates of $3.34 billion. Nordstrom had a negative net margin of 1.57% and a negative return on equity of 18.04%. The company’s revenue was up 4.6% on a year-over-year basis. During the same quarter last year, the firm earned $0.25 EPS. On average, equities research analysts expect that Nordstrom will post 1.93 earnings per share for the current year.

Nordstrom Announces Dividend

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

Insider Buying and Selling at Nordstrom

In other Nordstrom news, COO Alexis Depree sold 20,000 shares of the business’s stock in a transaction on Tuesday, September 24th. The stock was sold at an average price of $23.20, for a total value of $464,000.00. Following the sale, the chief operating officer now directly owns 169,331 shares of the company’s stock, valued at approximately $3,928,479.20. The trade was a 10.56 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 5.78% of the company’s stock.

Hedge Funds Weigh In On Nordstrom

Large investors have recently modified their holdings of the stock. Verition Fund Management LLC grew its position in Nordstrom by 147.4% during the 3rd quarter. Verition Fund Management LLC now owns 1,218,365 shares of the specialty retailer’s stock valued at $27,401,000 after purchasing an additional 725,803 shares during the last quarter. American Century Companies Inc. lifted its stake in shares of 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 buying an additional 661,769 shares in the last quarter. Vanguard Group Inc. increased its position in shares of 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 in the last quarter. Marshall Wace LLP increased its position in shares of Nordstrom by 38.4% during the second quarter. Marshall Wace LLP now owns 1,479,414 shares of the specialty retailer’s stock valued at $31,393,000 after acquiring an additional 410,152 shares in the last quarter. Finally, NewSquare Capital LLC purchased a new position in Nordstrom in the 2nd quarter worth approximately $7,783,000. Hedge funds and other institutional investors 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.