KeyCorp reaffirmed their overweight rating on shares of Nordstrom, Inc. (NYSE:JWN) in a research note released on Thursday. The brokerage currently has a $55.00 price objective on the specialty retailer’s stock.
JWN has been the topic of a number of other reports. Gordon Haskett restated an accumulate rating on shares of Nordstrom in a report on Friday, June 9th. J P Morgan Chase & Co restated an underweight rating and set a $48.00 price objective on shares of Nordstrom in a report on Friday, July 14th. ValuEngine lowered shares of Nordstrom from a buy rating to a hold rating in a report on Friday, September 1st. Vetr lowered shares of Nordstrom from a sell rating to a strong sell rating and set a $41.54 price objective on the stock. in a report on Monday, July 17th. Finally, Cowen and Company restated an outperform rating and set a $53.00 price objective (up from $49.00) on shares of Nordstrom in a report on Wednesday. Four analysts have rated the stock with a sell rating, seventeen have issued a hold rating and eight have issued a buy rating to the company’s stock. The company has a consensus rating of Hold and a consensus target price of $48.26.
Nordstrom (NYSE:JWN) opened at 46.74 on Thursday. Nordstrom has a 1-year low of $39.53 and a 1-year high of $62.82. The stock has a 50 day moving average of $45.84 and a 200-day moving average of $45.62. The firm has a market capitalization of $7.77 billion, a P/E ratio of 22.14 and a beta of 0.82.
Nordstrom (NYSE:JWN) last issued its quarterly earnings data on Thursday, August 10th. The specialty retailer reported $0.65 EPS for the quarter, topping analysts’ consensus estimates of $0.62 by $0.03. Nordstrom had a net margin of 2.44% and a return on equity of 71.57%. The business had revenue of $3.72 billion for the quarter, compared to analyst estimates of $3.70 billion. During the same period last year, the business posted $0.67 earnings per share. The firm’s quarterly revenue was up 3.5% on a year-over-year basis. On average, equities research analysts anticipate that Nordstrom will post $2.97 earnings per share for the current year.
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The business also recently announced a quarterly dividend, which was paid on Tuesday, September 12th. Investors of record on Monday, August 28th were issued a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 3.17%. The ex-dividend date was Thursday, August 24th. Nordstrom’s payout ratio is 70.14%.
Hedge funds have recently made changes to their positions in the stock. Parallel Advisors LLC boosted its holdings in shares of Nordstrom by 12.7% during the 1st quarter. Parallel Advisors LLC now owns 2,099 shares of the specialty retailer’s stock worth $104,000 after buying an additional 236 shares during the period. Gemmer Asset Management LLC boosted its holdings in shares of Nordstrom by 0.8% during the 2nd quarter. Gemmer Asset Management LLC now owns 2,270 shares of the specialty retailer’s stock worth $109,000 after buying an additional 18 shares during the period. NEXT Financial Group Inc boosted its holdings in shares of Nordstrom by 55.4% during the 2nd quarter. NEXT Financial Group Inc now owns 2,642 shares of the specialty retailer’s stock worth $126,000 after buying an additional 942 shares during the period. Ameritas Investment Partners Inc. boosted its holdings in shares of Nordstrom by 6,460.5% during the 1st quarter. Ameritas Investment Partners Inc. now owns 2,821 shares of the specialty retailer’s stock worth $131,000 after buying an additional 2,778 shares during the period. Finally, Sei Investments Co. boosted its holdings in shares of Nordstrom by 32.0% during the 2nd quarter. Sei Investments Co. now owns 3,177 shares of the specialty retailer’s stock worth $152,000 after buying an additional 771 shares during the period. 63.71% of the stock is owned by institutional investors and hedge funds.
Nordstrom, Inc is a fashion specialty retailer in the United States. The Company’s segments include Retail and Credit. As of March 20, 2017, the Company operated 344 the United States stores located in 40 states as well as an e-commerce business. The Company also offers its customers a variety of payment products and services, including credit and debit cards.
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