Nordstrom (NYSE:JWN – Get Rating) had its target price trimmed by Morgan Stanley from $21.00 to $19.00 in a research report released on Monday, Benzinga reports. The firm currently has an underweight rating on the specialty retailer's stock.
A number of other equities research analysts have also recently issued reports on JWN. JPMorgan Chase & Co. decreased their price target on shares of Nordstrom from $15.00 to $13.00 and set an underweight rating for the company in a report on Friday, January 20th. Telsey Advisory Group decreased their price target on shares of Nordstrom from $25.00 to $19.00 and set a market perform rating for the company in a report on Friday, January 20th. Piper Sandler cut shares of Nordstrom from an overweight rating to a neutral rating and reduced their target price for the company from $26.00 to $20.00 in a research note on Thursday, January 5th. Evercore ISI reduced their target price on shares of Nordstrom from $25.00 to $16.00 and set an in-line rating for the company in a research note on Friday, January 20th. Finally, KeyCorp reduced their target price on shares of Nordstrom from $30.00 to $22.00 and set an overweight rating for the company in a research note on Friday, January 20th. Five equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, Nordstrom has an average rating of Hold and a consensus target price of $18.63.
Get Nordstrom alerts:Nordstrom Stock Performance
Shares of NYSE:JWN opened at $18.43 on Monday. The stock has a market capitalization of $2.95 billion, a PE ratio of 9.22, a P/E/G ratio of 0.68 and a beta of 2.17. Nordstrom has a 1 year low of $15.52 and a 1 year high of $29.59. The firm has a fifty day moving average price of $18.09 and a 200 day moving average price of $19.62. The company has a current ratio of 0.99, a quick ratio of 0.24 and a debt-to-equity ratio of 4.71.
Nordstrom (NYSE:JWN – Get Rating) last released its quarterly earnings results on Tuesday, November 22nd. The specialty retailer reported $0.20 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.14 by $0.06. Nordstrom had a net margin of 2.08% and a return on equity of 58.09%. The company had revenue of $3.50 billion during the quarter, compared to analysts' expectations of $3.49 billion. During the same period in the prior year, the company earned $0.39 earnings per share. The business's quarterly revenue was down 3.8% compared to the same quarter last year. Analysts expect that Nordstrom will post 1.64 EPS for the current fiscal year.Nordstrom Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 14th. Investors of record on Tuesday, November 29th were given a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 4.12%. The ex-dividend date was Monday, November 28th. Nordstrom's dividend payout ratio (DPR) is presently 38.00%.
Institutional Inflows and Outflows
Several hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its holdings in shares of Nordstrom by 1.3% during the third quarter. Vanguard Group Inc. now owns 10,459,699 shares of the specialty retailer's stock worth $174,992,000 after buying an additional 131,102 shares in the last quarter. State Street Corp increased its holdings in shares of Nordstrom by 5.5% during the first quarter. State Street Corp now owns 4,552,284 shares of the specialty retailer's stock worth $124,245,000 after buying an additional 239,120 shares in the last quarter. Balyasny Asset Management LLC increased its holdings in shares of Nordstrom by 71.0% during the third quarter. Balyasny Asset Management LLC now owns 2,162,440 shares of the specialty retailer's stock worth $36,178,000 after buying an additional 898,176 shares in the last quarter. Renaissance Technologies LLC increased its holdings in shares of Nordstrom by 240.8% during the first quarter. Renaissance Technologies LLC now owns 1,988,500 shares of the specialty retailer's stock worth $53,908,000 after buying an additional 1,405,000 shares in the last quarter. Finally, Fisher Asset Management LLC acquired a new stake in shares of Nordstrom during the third quarter worth approximately $28,921,000. Institutional investors and hedge funds own 66.41% of the company's stock.
About Nordstrom
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Nordstrom, Inc engages in the manufacture and trade of clothes, shoes, and accessories. It operates through the following segments: Retail and Corporate/Other. The Retail segment consists of a selection of high-quality, brand-name, and private label merchandise, which includes apparel, shoes, cosmetics, and accessories for women, men, young adults, and children.
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