Nordstrom, Inc. (NYSE:JWN) Given Average Rating of “Hold” by Brokerages

Shares of Nordstrom, Inc. (NYSE:JWN) have received an average rating of “Hold” from the twenty-three ratings firms that are currently covering the firm, Marketbeat reports. Four analysts have rated the stock with a sell recommendation, fifteen have issued a hold recommendation and two have assigned a buy recommendation to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $42.80.

Several analysts have recently commented on the stock. Gordon Haskett raised shares of Nordstrom from a “reduce” rating to a “hold” rating and set a $33.71 price objective for the company in a research report on Thursday. Zacks Investment Research cut Nordstrom from a “hold” rating to a “strong sell” rating in a report on Friday, May 24th. Cowen cut their target price on Nordstrom from $44.00 to $36.00 and set a “market perform” rating on the stock in a report on Thursday, May 23rd. Bank of America cut their target price on Nordstrom from $40.00 to $32.00 and set an “underperform” rating on the stock in a report on Wednesday, May 22nd. Finally, Credit Suisse Group cut their target price on Nordstrom from $40.00 to $36.00 and set a “neutral” rating on the stock in a report on Wednesday, May 22nd.

In other Nordstrom news, insider Peter E. Nordstrom sold 3,380 shares of the firm’s stock in a transaction on Monday, June 10th. The stock was sold at an average price of $32.46, for a total transaction of $109,714.80. Following the transaction, the insider now directly owns 2,530,989 shares in the company, valued at approximately $82,155,902.94. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Christine Deputy sold 4,812 shares of the firm’s stock in a transaction on Friday, June 14th. The shares were sold at an average price of $32.59, for a total value of $156,823.08. Following the transaction, the insider now owns 60,056 shares in the company, valued at $1,957,225.04. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 25,317 shares of company stock worth $1,037,163. Company insiders own 5.21% of the company’s stock.

A number of large investors have recently modified their holdings of JWN. Piedmont Investment Advisors Inc. increased its holdings in Nordstrom by 2.7% in the 1st quarter. Piedmont Investment Advisors Inc. now owns 10,476 shares of the specialty retailer’s stock worth $465,000 after acquiring an additional 276 shares during the last quarter. BTIM Corp. increased its holdings in Nordstrom by 1.2% in the 1st quarter. BTIM Corp. now owns 27,470 shares of the specialty retailer’s stock worth $1,219,000 after acquiring an additional 325 shares during the last quarter. Pinnacle Wealth Management Advisory Group LLC increased its holdings in Nordstrom by 8.5% in the 1st quarter. Pinnacle Wealth Management Advisory Group LLC now owns 4,965 shares of the specialty retailer’s stock worth $220,000 after acquiring an additional 390 shares during the last quarter. Captrust Financial Advisors increased its holdings in Nordstrom by 19.1% in the 4th quarter. Captrust Financial Advisors now owns 2,499 shares of the specialty retailer’s stock worth $116,000 after acquiring an additional 400 shares during the last quarter. Finally, Bailard Inc. increased its holdings in Nordstrom by 0.8% in the 1st quarter. Bailard Inc. now owns 59,397 shares of the specialty retailer’s stock worth $2,636,000 after acquiring an additional 465 shares during the last quarter. Institutional investors and hedge funds own 62.30% of the company’s stock.

Shares of JWN stock opened at $33.21 on Friday. The company has a market cap of $5.13 billion, a PE ratio of 9.35, a P/E/G ratio of 1.65 and a beta of 0.66. Nordstrom has a 52 week low of $30.55 and a 52 week high of $67.75. The company has a debt-to-equity ratio of 6.34, a current ratio of 0.76 and a quick ratio of 0.24.

Nordstrom (NYSE:JWN) last announced its quarterly earnings data on Tuesday, May 21st. The specialty retailer reported $0.23 EPS for the quarter, missing the consensus estimate of $0.43 by ($0.20). The company had revenue of $3.44 billion for the quarter, compared to analyst estimates of $3.54 billion. Nordstrom had a return on equity of 58.16% and a net margin of 3.27%. During the same period last year, the business earned $0.51 EPS. On average, sell-side analysts expect that Nordstrom will post 3.35 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 18th. Shareholders of record on Monday, June 3rd were paid a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 4.46%. The ex-dividend date was Friday, May 31st. Nordstrom’s dividend payout ratio (DPR) is presently 41.69%.

About Nordstrom

Nordstrom, Inc, a fashion retailer, provides apparel, shoes, cosmetics, and accessories 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 full-line stores and online store at Nordstrom.com; Nordstrom Rack stores; Nordstromrack.com and HauteLook; Jeffrey boutiques; clearance stores that operate under the Last Chance name; Trunk Club clubhouses and TrunkClub.com; and Nordstrom Locals.

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Analyst Recommendations for Nordstrom (NYSE:JWN)

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