Shares of Nordstrom, Inc. (NYSE:JWN) have received an average rating of “Hold” from the twenty-three brokerages that are covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and five have given a buy rating to the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $58.07.
JWN has been the topic of a number of recent analyst reports. Wedbush initiated coverage on Nordstrom in a report on Friday, August 10th. They issued a “neutral” rating and a $55.00 price objective on the stock. Guggenheim reiterated a “hold” rating on shares of Nordstrom in a report on Thursday, August 16th. Nomura raised their price target on Nordstrom from $54.00 to $59.00 and gave the stock a “neutral” rating in a research note on Friday, August 17th. Royal Bank of Canada set a $55.00 price target on Nordstrom and gave the stock a “hold” rating in a research note on Friday, August 17th. Finally, Telsey Advisory Group raised their price target on Nordstrom from $57.00 to $65.00 and gave the stock an “outperform” rating in a research note on Friday, August 17th.
In other Nordstrom news, VP Robert Sari sold 8,795 shares of the stock in a transaction that occurred on Wednesday, October 10th. The stock was sold at an average price of $62.50, for a total transaction of $549,687.50. Following the completion of the sale, the vice president now directly owns 14,960 shares of the company’s stock, valued at approximately $935,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Blake W. Nordstrom sold 127,251 shares of the stock in a transaction that occurred on Thursday, September 20th. The stock was sold at an average price of $61.51, for a total value of $7,827,209.01. Following the sale, the insider now directly owns 2,519,436 shares of the company’s stock, valued at $154,970,508.36. The disclosure for this sale can be found here. Insiders have sold a total of 200,604 shares of company stock worth $12,621,378 in the last 90 days. 7.05% of the stock is currently owned by company insiders.
A number of institutional investors have recently bought and sold shares of JWN. BlackRock Inc. boosted its holdings in Nordstrom by 10.5% during the third quarter. BlackRock Inc. now owns 9,865,556 shares of the specialty retailer’s stock valued at $590,062,000 after acquiring an additional 933,720 shares during the period. United Services Automobile Association lifted its stake in shares of Nordstrom by 1,958.0% in the second quarter. United Services Automobile Association now owns 889,797 shares of the specialty retailer’s stock valued at $46,074,000 after buying an additional 846,560 shares during the period. TIAA CREF Investment Management LLC lifted its stake in shares of Nordstrom by 92.5% in the third quarter. TIAA CREF Investment Management LLC now owns 1,358,979 shares of the specialty retailer’s stock valued at $81,281,000 after buying an additional 653,173 shares during the period. Millennium Management LLC lifted its stake in shares of Nordstrom by 199.1% in the second quarter. Millennium Management LLC now owns 945,422 shares of the specialty retailer’s stock valued at $48,954,000 after buying an additional 629,307 shares during the period. Finally, Smith Asset Management Group LP lifted its stake in shares of Nordstrom by 3,553.2% in the third quarter. Smith Asset Management Group LP now owns 544,330 shares of the specialty retailer’s stock valued at $32,588,000 after buying an additional 529,430 shares during the period. 60.44% of the stock is owned by institutional investors.
Shares of Nordstrom stock traded down $0.42 during trading hours on Monday, hitting $50.40. The company’s stock had a trading volume of 1,580,137 shares, compared to its average volume of 3,441,796. Nordstrom has a twelve month low of $44.68 and a twelve month high of $67.75. The firm has a market cap of $8.57 billion, a PE ratio of 17.03, a price-to-earnings-growth ratio of 2.35 and a beta of 0.54. The company has a quick ratio of 0.44, a current ratio of 1.12 and a debt-to-equity ratio of 2.23.
Nordstrom (NYSE:JWN) last announced its quarterly earnings results on Thursday, November 15th. The specialty retailer reported $0.67 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.64 by $0.03. Nordstrom had a return on equity of 51.66% and a net margin of 2.92%. The business had revenue of $3.75 billion for the quarter, compared to analyst estimates of $3.68 billion. As a group, equities analysts expect that Nordstrom will post 3.6 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 11th. Investors of record on Monday, November 26th will be paid a dividend of $0.37 per share. The ex-dividend date of this dividend is Friday, November 23rd. This represents a $1.48 dividend on an annualized basis and a yield of 2.94%. Nordstrom’s dividend payout ratio is presently 50.00%.
Nordstrom declared that its board has initiated a share repurchase program on Wednesday, August 22nd that permits the company to buyback $1.50 billion in outstanding shares. This buyback authorization permits the specialty retailer to buy up to 14.4% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s leadership believes its stock is undervalued.
Nordstrom Company Profile
Nordstrom, Inc, a fashion retailer, provides apparel, shoes, cosmetics, and accessories for women, men, young adults, and children in the United States and Canada. The company operates in two segments, Retail and Credit. The Retail segment offers a range of brand name and private label merchandise through various channels, including Nordstrom branded full-line stores and online store at Nordstrom.com; Nordstrom Rack stores; Nordstromrack.com and HauteLook; Trunk Club clubhouses and TrunkClub.com; Jeffrey boutiques; and clearance stores that operate under the Last Chance name.
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