Nordstrom, Inc. (NYSE:JWN – Get Rating) gapped down prior to trading on Wednesday after Credit Suisse Group lowered their price target on the stock from $21.00 to $20.00. The stock had previously closed at $22.65, but opened at $20.84. Credit Suisse Group currently has a neutral rating on the stock. Nordstrom shares last traded at $21.35, with a volume of 94,697 shares traded.
Several other analysts also recently weighed in on the stock. Piper Sandler decreased their price target on shares of Nordstrom from $28.00 to $26.00 and set an “overweight” rating for the company in a research note on Wednesday, August 24th. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Nordstrom from $23.00 to $22.00 and set a “hold” rating for the company in a research note on Monday, November 14th. StockNews.com assumed coverage on shares of Nordstrom in a research note on Wednesday, October 12th. They set a “hold” rating for the company. Jefferies Financial Group raised shares of Nordstrom from a “hold” rating to a “buy” rating and lifted their price target for the company from $21.00 to $24.00 in a research note on Thursday, September 15th. Finally, Barclays decreased their price target on shares of Nordstrom from $21.00 to $18.00 and set an “underweight” rating for the company in a research note on Thursday, August 25th. Four equities research analysts have rated the stock with a sell rating, ten have given a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, Nordstrom presently has a consensus rating of “Hold” and a consensus target price of $24.00.
Institutional Trading of Nordstrom
Institutional investors and hedge funds have recently modified their holdings of the stock. Sandy Spring Bank increased its stake in shares of Nordstrom by 500.0% during the second quarter. Sandy Spring Bank now owns 1,200 shares of the specialty retailer’s stock worth $25,000 after purchasing an additional 1,000 shares in the last quarter. Tcwp LLC purchased a new stake in shares of Nordstrom during the first quarter worth about $26,000. Charter Oak Capital Management LLC purchased a new stake in Nordstrom during the 2nd quarter valued at about $34,000. Bartlett & Co. LLC grew its stake in Nordstrom by 200.0% during the 2nd quarter. Bartlett & Co. LLC now owns 1,950 shares of the specialty retailer’s stock valued at $41,000 after acquiring an additional 1,300 shares in the last quarter. Finally, Clear Street Markets LLC purchased a new stake in Nordstrom during the 2nd quarter valued at about $49,000. Hedge funds and other institutional investors own 59.36% of the company’s stock.
Nordstrom Stock Performance
The company has a market cap of $3.40 billion, a PE ratio of 8.48, a PEG ratio of 1.53 and a beta of 2.17. The company has a debt-to-equity ratio of 4.30, a quick ratio of 0.34 and a current ratio of 1.01. The firm’s 50 day moving average is $19.44 and its 200-day moving average is $21.54.
Nordstrom (NYSE:JWN – Get Rating) last announced its quarterly earnings data on Tuesday, November 22nd. The specialty retailer reported $0.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.14 by $0.06. Nordstrom had a net margin of 2.60% and a return on equity of 70.36%. The company had revenue of $3.50 billion during the quarter, compared to analysts’ expectations of $3.49 billion. During the same quarter in the prior year, the company earned $0.39 EPS. Nordstrom’s revenue was down 3.8% compared to the same quarter last year. On average, research analysts anticipate that Nordstrom, Inc. will post 2.32 earnings per share for the current fiscal year.
Nordstrom Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 14th. Investors of record on Tuesday, November 29th will be paid a dividend of $0.19 per share. The ex-dividend date of this dividend is Monday, November 28th. This represents a $0.76 annualized dividend and a yield of 3.56%. Nordstrom’s dividend payout ratio is presently 30.16%.
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; TrunkClub.com; Nordstrom.ca; Nordstrom stores; Nordstrom Rack stores; Nordstrom Locals; Nordstromrack.com and HauteLook; clearance stores under the Last Chance name; Trunk Club clubhouses; and Jeffrey boutiques.