Nordstrom (NYSE:JWN) Trading 4.2% Higher – Still a Buy?

Nordstrom, Inc. (NYSE:JWN) was up 4.2% during trading on Tuesday . The stock traded as high as $24.01 and last traded at $23.88. Approximately 911,465 shares changed hands during trading, a decline of 72% from the average daily volume of 3,200,628 shares. The stock had previously closed at $22.91.

Analyst Upgrades and Downgrades

JWN has been the topic of a number of research reports. The Goldman Sachs Group increased their price objective on shares of Nordstrom from $19.00 to $21.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 28th. BMO Capital Markets upped their target price on Nordstrom from $20.00 to $22.00 and gave the stock a “market perform” rating in a research note on Wednesday, August 28th. KeyCorp cut Nordstrom from an “overweight” rating to a “sector weight” rating in a research report on Thursday, September 26th. Barclays upgraded Nordstrom from an “underweight” rating to an “equal weight” rating and upped their price objective for the stock from $18.00 to $23.00 in a research report on Thursday, September 5th. Finally, StockNews.com upgraded shares of Nordstrom from a “hold” rating to a “buy” rating in a research note on Thursday, August 8th. Three equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $20.23.

Nordstrom Stock Performance

The firm has a fifty day moving average price of $22.30 and a 200 day moving average price of $21.42. The company has a current ratio of 1.07, a quick ratio of 0.41 and a debt-to-equity ratio of 2.76. The firm has a market cap of $4.00 billion, a PE ratio of 13.36 and a beta of 2.60.

Nordstrom (NYSE:JWN) last posted its earnings results on Tuesday, August 27th. The specialty retailer reported $0.96 earnings per share for the quarter, beating the consensus estimate of $0.71 by $0.25. Nordstrom had a negative net margin of 1.44% and a negative return on equity of 21.26%. The company had revenue of $3.89 billion for the quarter, compared to analyst estimates of $3.88 billion. During the same period in the previous year, the business posted $0.84 EPS. Nordstrom’s revenue was up 3.2% on a year-over-year basis. As a group, equities research analysts expect that Nordstrom, Inc. will post 1.89 earnings per share for the current fiscal year.

Nordstrom Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 18th. Investors of record on Tuesday, September 3rd were given a $0.19 dividend. The ex-dividend date was Tuesday, September 3rd. This represents a $0.76 annualized dividend and a yield of 3.11%. Nordstrom’s payout ratio is 41.53%.

Insiders Place Their Bets

In other news, COO Alexis Depree sold 20,000 shares of the company’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 transaction, the chief operating officer now owns 169,331 shares of the company’s stock, valued at $3,928,479.20. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 5.78% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of JWN. Creative Planning increased its position in shares of Nordstrom by 22.9% during the third quarter. Creative Planning now owns 12,025 shares of the specialty retailer’s stock worth $270,000 after acquiring an additional 2,238 shares during the period. Wedge Capital Management L L P NC raised its position in Nordstrom by 12.7% in the 3rd quarter. Wedge Capital Management L L P NC now owns 87,514 shares of the specialty retailer’s stock valued at $1,968,000 after purchasing an additional 9,871 shares in the last quarter. CWM LLC boosted its stake in shares of Nordstrom by 28.7% in the 3rd quarter. CWM LLC now owns 3,628 shares of the specialty retailer’s stock valued at $82,000 after buying an additional 810 shares during the period. Axiom Advisory LLC raised its holdings in Nordstrom by 46.0% in the third quarter. Axiom Advisory LLC now owns 1,100,864 shares of the specialty retailer’s stock valued at $24,456,000 after acquiring an additional 346,994 shares in the last quarter. Finally, SG Americas Securities LLC grew its holdings in Nordstrom by 55.6% during the 3rd quarter. SG Americas Securities LLC now owns 63,417 shares of the specialty retailer’s stock worth $1,426,000 after acquiring an additional 22,650 shares in the last quarter. 88.73% of the stock is currently owned by hedge funds and other 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.