Nordstrom (NYSE:JWN) Price Target Raised to $22.00

Nordstrom (NYSE:JWN) had its price objective increased by Evercore ISI from $20.00 to $22.00 in a research report sent to investors on Wednesday morning,Benzinga reports. Evercore ISI currently has an in-line rating on the specialty retailer’s stock.

Several other equities research analysts have also recently issued reports on JWN. KeyCorp cut shares of Nordstrom from an “overweight” rating to a “sector weight” rating in a report on Thursday, September 26th. Citigroup raised their target price on shares of Nordstrom from $22.00 to $23.00 and gave the stock a “neutral” rating in a report on Tuesday, November 19th. Barclays upgraded shares of Nordstrom from an “underweight” rating to an “equal weight” rating and raised their target price for the stock from $18.00 to $23.00 in a report on Thursday, September 5th. JPMorgan Chase & Co. lifted their price target on shares of Nordstrom from $19.00 to $20.00 and gave the stock an “underweight” rating in a research note on Wednesday, August 28th. Finally, StockNews.com upgraded shares of Nordstrom from a “hold” rating to a “buy” rating in a research note on Thursday, August 8th. Four investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $20.65.

Nordstrom Price Performance

Shares of JWN opened at $22.62 on Wednesday. The company has a market capitalization of $3.71 billion, a P/E ratio of 13.23 and a beta of 2.59. The company has a quick ratio of 0.41, a current ratio of 1.07 and a debt-to-equity ratio of 2.76. The firm has a 50 day moving average of $22.86 and a 200 day moving average of $22.23. Nordstrom has a twelve month low of $14.80 and a twelve month high of $24.99.

Nordstrom (NYSE:JWN) last announced its quarterly earnings results on Tuesday, November 26th. The specialty retailer reported $0.33 earnings per share for the quarter, beating the consensus estimate of $0.22 by $0.11. Nordstrom had a negative net margin of 1.44% and a negative return on equity of 21.26%. The company had revenue of $3.35 billion during the quarter, compared to the consensus estimate of $3.34 billion. During the same quarter last year, the firm earned $0.25 earnings per share. The firm’s quarterly revenue was up 4.6% compared to the same quarter last year. As a group, equities research analysts anticipate that Nordstrom will post 1.91 earnings per share for the current fiscal year.

Nordstrom Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Tuesday, December 3rd will be paid a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 3.36%. The ex-dividend date is Tuesday, December 3rd. Nordstrom’s dividend payout ratio (DPR) is 44.44%.

Insider Activity at Nordstrom

In related news, COO Alexis Depree sold 20,000 shares of Nordstrom stock in a transaction on Tuesday, September 24th. The shares were sold at an average price of $23.20, for a total transaction of $464,000.00. Following the transaction, the chief operating officer now owns 169,331 shares in the company, valued at approximately $3,928,479.20. The trade was a 10.56 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 5.78% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Verition Fund Management LLC increased its holdings in Nordstrom by 147.4% in 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 acquiring an additional 725,803 shares during the last quarter. American Century Companies Inc. increased its holdings in Nordstrom by 66.2% in the 2nd quarter. American Century Companies Inc. now owns 1,661,227 shares of the specialty retailer’s stock valued at $35,251,000 after acquiring an additional 661,769 shares during the last quarter. Vanguard Group Inc. increased its holdings in Nordstrom by 5.7% in the 1st 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 during the last quarter. Marshall Wace LLP increased its holdings in Nordstrom by 38.4% in the 2nd 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 during the last quarter. Finally, NewSquare Capital LLC bought a new stake in Nordstrom in the 2nd quarter valued at $7,783,000. Hedge funds and other institutional investors own 88.73% of the company’s stock.

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.