Brokerages Set Nordstrom, Inc. (NYSE:JWN) Target Price at $16.54

Shares of Nordstrom, Inc. (NYSE:JWN) have earned an average recommendation of “Reduce” from the eleven ratings firms that are presently covering the company, MarketBeat.com reports. Five equities research analysts have rated the stock with a sell recommendation, five have issued a hold recommendation and one has assigned a buy recommendation to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $16.54.

Several analysts recently issued reports on JWN shares. Bank of America upped their price target on shares of Nordstrom from $13.00 to $15.00 and gave the company an “underperform” rating in a report on Wednesday, March 6th. Telsey Advisory Group reaffirmed a “market perform” rating and set a $19.00 price target on shares of Nordstrom in a research report on Friday, April 19th. StockNews.com raised Nordstrom from a “hold” rating to a “buy” rating in a report on Thursday, March 14th. The Goldman Sachs Group increased their target price on Nordstrom from $16.00 to $18.00 and gave the stock a “neutral” rating in a report on Wednesday, March 6th. Finally, Piper Sandler boosted their price target on Nordstrom from $17.00 to $20.00 and gave the company a “neutral” rating in a report on Wednesday, March 6th.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of JWN. Capstone Investment Advisors LLC boosted its position in shares of Nordstrom by 185.0% during the first quarter. Capstone Investment Advisors LLC now owns 211,471 shares of the specialty retailer’s stock worth $4,287,000 after buying an additional 137,271 shares during the period. Retirement Systems of Alabama boosted its position in Nordstrom by 0.7% during the 1st quarter. Retirement Systems of Alabama now owns 122,309 shares of the specialty retailer’s stock worth $2,479,000 after acquiring an additional 812 shares during the period. Allspring Global Investments Holdings LLC boosted its position in Nordstrom by 26.9% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 6,824 shares of the specialty retailer’s stock worth $138,000 after acquiring an additional 1,448 shares during the period. Commonwealth Equity Services LLC grew its stake in shares of Nordstrom by 9.2% in the first quarter. Commonwealth Equity Services LLC now owns 198,999 shares of the specialty retailer’s stock worth $4,034,000 after purchasing an additional 16,837 shares in the last quarter. Finally, Principal Financial Group Inc. increased its holdings in shares of Nordstrom by 3.0% during the first quarter. Principal Financial Group Inc. now owns 368,147 shares of the specialty retailer’s stock valued at $7,462,000 after purchasing an additional 10,565 shares during the period. 88.73% of the stock is owned by institutional investors and hedge funds.

Nordstrom Stock Up 0.6 %

Shares of Nordstrom stock opened at $20.10 on Tuesday. The company has a debt-to-equity ratio of 3.08, a current ratio of 1.02 and a quick ratio of 0.41. Nordstrom has a 1-year low of $12.88 and a 1-year high of $23.53. The business has a 50-day moving average of $19.11 and a 200-day moving average of $17.72. The company has a market capitalization of $3.28 billion, a PE ratio of 25.13, a P/E/G ratio of 2.26 and a beta of 2.59.

Nordstrom (NYSE:JWN) last issued its quarterly earnings data on Tuesday, March 5th. The specialty retailer reported $0.96 earnings per share for the quarter, beating analysts’ consensus estimates of $0.90 by $0.06. The firm had revenue of $4.29 billion during the quarter, compared to analyst estimates of $4.38 billion. Nordstrom had a return on equity of 49.30% and a net margin of 0.91%. Nordstrom’s quarterly revenue was up 2.2% on a year-over-year basis. During the same quarter last year, the firm earned $0.74 EPS. As a group, equities analysts forecast that Nordstrom will post 1.81 EPS for the current fiscal year.

Nordstrom Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 27th. Investors of record on Tuesday, March 12th were issued a $0.19 dividend. The ex-dividend date was Monday, March 11th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 3.78%. Nordstrom’s dividend payout ratio (DPR) is presently 95.00%.

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.