Nordstrom (NYSE:JWN - Free Report) had its price objective increased by Barclays from $15.00 to $18.00 in a research report released on Friday morning, Benzinga reports. The brokerage currently has an underweight rating on the specialty retailer's stock.
A number of other equities analysts also recently weighed in on JWN. The Goldman Sachs Group increased their price target on shares of Nordstrom from $16.00 to $18.00 and gave the stock a neutral rating in a research note on Wednesday, March 6th. Bank of America raised their target price on shares of Nordstrom from $15.00 to $18.00 and gave the company an underperform rating in a research note on Friday. Piper Sandler raised their target price on shares of Nordstrom from $17.00 to $20.00 and gave the company a neutral rating in a research note on Wednesday, March 6th. JPMorgan Chase & Co. raised their target price on shares of Nordstrom from $15.00 to $17.00 and gave the company an underweight rating in a research note on Friday, May 17th. Finally, Telsey Advisory Group reissued a market perform rating and issued a $19.00 target price on shares of Nordstrom in a research note on Friday. Five research analysts have rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the company. According to data from MarketBeat, Nordstrom currently has a consensus rating of Hold and a consensus price target of $17.54.
Get Our Latest Stock Analysis on Nordstrom
Nordstrom Trading Up 5.1 %
Shares of JWN traded up $1.07 on Friday, hitting $22.10. 8,046,366 shares of the stock traded hands, compared to its average volume of 4,034,014. The company has a quick ratio of 0.41, a current ratio of 1.02 and a debt-to-equity ratio of 3.08. The firm has a market capitalization of $3.61 billion, a P/E ratio of 27.75, a P/E/G ratio of 2.44 and a beta of 2.59. The stock's 50 day moving average is $19.88 and its two-hundred day moving average is $18.63. Nordstrom has a 1 year low of $12.88 and a 1 year high of $23.53.
Nordstrom (NYSE:JWN - Get Free Report) last announced its quarterly earnings data on Thursday, May 30th. The specialty retailer reported ($0.24) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.08) by ($0.16). The firm had revenue of $3.34 billion for the quarter, compared to analysts' expectations of $3.19 billion. Nordstrom had a net margin of 0.91% and a return on equity of 49.30%. The business's quarterly revenue was up 4.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.07 EPS. As a group, sell-side analysts predict that Nordstrom will post 1.8 earnings per share for the current year.
Nordstrom Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 19th. Shareholders of record on Tuesday, June 4th will be issued a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 3.44%. The ex-dividend date of this dividend is Tuesday, June 4th. Nordstrom's dividend payout ratio is currently 95.00%.
Institutional Inflows and Outflows
Several hedge funds have recently added to or reduced their stakes in the stock. CANADA LIFE ASSURANCE Co grew its holdings in 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. State of Michigan Retirement System boosted its holdings in shares of Nordstrom by 2.6% in the 1st quarter. State of Michigan Retirement System now owns 23,908 shares of the specialty retailer's stock valued at $485,000 after buying an additional 600 shares during the period. Personal CFO Solutions LLC boosted its holdings in shares of Nordstrom by 5.7% in the 4th quarter. Personal CFO Solutions LLC now owns 11,882 shares of the specialty retailer's stock valued at $219,000 after buying an additional 636 shares during the period. Hexagon Capital Partners LLC boosted its holdings in shares of Nordstrom by 33.1% in the 1st quarter. Hexagon Capital Partners LLC now owns 2,648 shares of the specialty retailer's stock valued at $54,000 after buying an additional 659 shares during the period. Finally, Louisiana State Employees Retirement System boosted its holdings in shares of Nordstrom by 2.9% in the 1st quarter. Louisiana State Employees Retirement System now owns 28,000 shares of the specialty retailer's stock valued at $568,000 after buying an additional 800 shares during the period. 88.73% of the stock is owned by institutional investors and hedge funds.
About Nordstrom
(Get Free Report)
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.
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