Nordstrom (NYSE:JWN) Price Target Cut to $32.00 by Analysts at Telsey Advisory Group

Nordstrom (NYSE:JWN) had its price objective cut by Telsey Advisory Group from $35.00 to $32.00 in a report published on Thursday, Briefing.com Automated Import reports. They currently have a market perform rating on the specialty retailer’s stock.

Several other analysts also recently issued reports on the company. Cowen reduced their price target on Nordstrom from $44.00 to $36.00 and set a market perform rating for the company in a research note on Thursday, May 23rd. ValuEngine downgraded Nordstrom from a sell rating to a strong sell rating in a research note on Monday, April 29th. Bank of America reduced their price target on Nordstrom from $40.00 to $32.00 and set an underperform rating for the company in a research note on Wednesday, May 22nd. Credit Suisse Group dropped their price objective on Nordstrom from $40.00 to $36.00 and set a neutral rating for the company in a report on Wednesday, May 22nd. Finally, Wedbush reaffirmed a positive rating and issued a $24.00 price objective (down from $35.00) on shares of Nordstrom in a report on Thursday, August 15th. Five analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and two have issued a buy rating to the stock. Nordstrom has an average rating of Hold and a consensus target price of $38.19.

JWN opened at $28.57 on Thursday. The business has a fifty day simple moving average of $29.63 and a 200 day simple moving average of $37.47. The company has a market capitalization of $4.10 billion, a PE ratio of 8.05, a price-to-earnings-growth ratio of 1.35 and a beta of 0.66. Nordstrom has a 1 year low of $25.01 and a 1 year 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 released its quarterly earnings results on Wednesday, August 21st. The specialty retailer reported $0.90 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.76 by $0.14. The business had revenue of $3.87 billion during the quarter, compared to the consensus estimate of $3.92 billion. Nordstrom had a return on equity of 59.55% and a net margin of 3.17%. The firm’s quarterly revenue was down 4.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.95 EPS. Equities analysts anticipate that Nordstrom will post 3.32 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Friday, August 30th will be issued a dividend of $0.37 per share. The ex-dividend date is Thursday, August 29th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 5.18%. Nordstrom’s dividend payout ratio (DPR) is currently 41.69%.

In related news, insider Peter E. Nordstrom sold 3,380 shares of the business’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 sale, the insider now owns 2,530,989 shares in the company, valued at approximately $82,155,902.94. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Christine Deputy sold 4,812 shares of the business’s stock in a transaction on Friday, June 14th. The stock was sold at an average price of $32.59, for a total value of $156,823.08. Following the sale, the insider now owns 60,056 shares in the company, valued at approximately $1,957,225.04. The disclosure for this sale can be found here. Insiders own 5.21% of the company’s stock.

Hedge funds have recently modified their holdings of the stock. GAM Holding AG grew its position in Nordstrom by 138.4% during the 1st quarter. GAM Holding AG now owns 22,779 shares of the specialty retailer’s stock worth $1,011,000 after acquiring an additional 13,226 shares during the last quarter. Evergreen Capital Management LLC grew its position in shares of Nordstrom by 24.2% in the 1st quarter. Evergreen Capital Management LLC now owns 179,472 shares of the specialty retailer’s stock valued at $7,965,000 after buying an additional 35,024 shares during the last quarter. Meeder Asset Management Inc. grew its position in shares of Nordstrom by 6.3% in the 2nd quarter. Meeder Asset Management Inc. now owns 15,207 shares of the specialty retailer’s stock valued at $486,000 after buying an additional 899 shares during the last quarter. Advisor Group Inc. grew its position in shares of Nordstrom by 1.4% in the 1st quarter. Advisor Group Inc. now owns 45,234 shares of the specialty retailer’s stock valued at $2,008,000 after buying an additional 615 shares during the last quarter. Finally, Cambridge Financial Group Inc. grew its position in shares of Nordstrom by 6.4% in the 1st quarter. Cambridge Financial Group Inc. now owns 119,295 shares of the specialty retailer’s stock valued at $5,294,000 after buying an additional 7,155 shares during the last quarter. Institutional investors and hedge funds own 64.11% of the company’s stock.

Nordstrom Company Profile

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.

Featured Article: Call Option Volume

Analyst Recommendations for Nordstrom (NYSE:JWN)

Receive News & Ratings for Nordstrom Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Nordstrom and related companies with MarketBeat.com's FREE daily email newsletter.