Nordstrom (NYSE:JWN) Trading 4.5% Higher – Time to Buy?

by · The Markets Daily

Nordstrom, Inc. (NYSE:JWN – Get Free Report) shot up 4.5% during trading on Thursday . The company traded as high as $24.08 and last traded at $23.93. 475,349 shares changed hands during trading, a decline of 84% from the average session volume of 3,003,008 shares. The stock had previously closed at $22.89.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on JWN shares. Citigroup raised their price target on shares of Nordstrom from $22.00 to $23.00 and gave the company a “neutral” rating in a report on Tuesday, November 19th. TD Cowen increased their price target on Nordstrom from $24.00 to $25.00 and gave the company a “hold” rating in a report on Wednesday, August 28th. Bank of America lifted their price objective on Nordstrom from $20.00 to $22.00 and gave the stock an “underperform” rating in a report on Wednesday, November 27th. Telsey Advisory Group raised their price target on shares of Nordstrom from $24.00 to $26.00 and gave the stock a “market perform” rating in a research report on Wednesday, November 27th. Finally, BMO Capital Markets upped their price target on shares of Nordstrom from $20.00 to $22.00 and gave the company a “market perform” rating in a report on Wednesday, August 28th. Three investment analysts have rated the stock with a sell rating, ten have issued a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, Nordstrom presently has an average rating of “Hold” and an average price target of $21.29.

Check Out Our Latest Report on Nordstrom

Nordstrom Price Performance

The business has a fifty day moving average of $23.18 and a 200-day moving average of $22.43. The company has a debt-to-equity ratio of 2.65, a quick ratio of 0.35 and a current ratio of 1.14. The firm has a market capitalization of $4.05 billion, a P/E ratio of 15.62 and a beta of 2.56.

Nordstrom (NYSE:JWN – Get Free Report) last issued its quarterly earnings data on Tuesday, November 26th. The specialty retailer reported $0.33 earnings per share for the quarter, beating analysts’ consensus estimates of $0.22 by $0.11. The business had revenue of $3.35 billion for the quarter, compared to analysts’ expectations of $3.34 billion. Nordstrom had a negative net margin of 1.57% and a negative return on equity of 18.04%. The company’s revenue was up 4.6% on a year-over-year basis. During the same period in the previous year, the business earned $0.25 earnings per share. On average, sell-side analysts forecast that Nordstrom, Inc. will post 1.94 EPS for the current fiscal year.

Nordstrom Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 18th. Stockholders of record on Tuesday, December 3rd were issued a $0.19 dividend. The ex-dividend date was Tuesday, December 3rd. This represents a $0.76 annualized dividend and a dividend yield of 3.10%. Nordstrom’s dividend payout ratio (DPR) is 48.41%.

Insider Buying and Selling

In related news, COO Alexis Depree sold 20,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 24th. The shares were sold at an average price of $23.20, for a total value of $464,000.00. Following the sale, the chief operating officer now directly owns 169,331 shares in the company, valued at $3,928,479.20. The trade was a 10.56 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 5.78% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Nordstrom

A number of institutional investors have recently bought and sold shares of JWN. Venturi Wealth Management LLC lifted its stake in Nordstrom by 355.9% in the 3rd quarter. Venturi Wealth Management LLC now owns 1,272 shares of the specialty retailer’s stock worth $29,000 after acquiring an additional 993 shares in the last quarter. Atlas Capital Advisors LLC raised its holdings in shares of Nordstrom by 101.8% during the 2nd quarter. Atlas Capital Advisors LLC now owns 1,491 shares of the specialty retailer’s stock valued at $32,000 after purchasing an additional 752 shares in the last quarter. Rothschild Investment LLC acquired a new stake in shares of Nordstrom in the second quarter worth about $39,000. Blue Trust Inc. boosted its position in Nordstrom by 10,045.8% during the second quarter. Blue Trust Inc. now owns 2,435 shares of the specialty retailer’s stock worth $49,000 after purchasing an additional 2,411 shares during the period. Finally, Point72 Hong Kong Ltd acquired a new position in Nordstrom in the 2nd quarter valued at $71,000. Hedge funds and other institutional investors own 88.73% of the company’s stock.

Nordstrom Company Profile

(Get Free Report)

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; Nordstrom.ca; Nordstrom stores; Nordstrom Rack stores; Nordstrom Locals; ASOS; Nordstromrack.com; mobile application; and clearance stores under the Last Chance name.

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