Cowen and Company reissued their outperform rating on shares of Nordstrom, Inc. (NYSE:JWN) in a report released on Wednesday morning. The brokerage currently has a $53.00 price objective on the specialty retailer’s stock, up from their previous price objective of $49.00.
A number of other analysts have also recently commented on the stock. ValuEngine cut shares of Nordstrom from a buy rating to a hold rating in a research note on Friday, September 1st. Vetr cut shares of Nordstrom from a buy rating to a hold rating and set a $43.99 target price for the company. in a research note on Monday, June 5th. Royal Bank Of Canada set a $45.00 target price on shares of Nordstrom and gave the stock a hold rating in a research note on Tuesday, August 29th. Piper Jaffray Companies set a $42.00 target price on shares of Nordstrom and gave the stock a hold rating in a research note on Monday, July 17th. Finally, Gordon Haskett reissued an accumulate rating on shares of Nordstrom in a research note on Friday, June 9th. Four investment 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. Nordstrom presently has a consensus rating of Hold and an average price target of $48.26.
Nordstrom (NYSE:JWN) opened at 46.74 on Wednesday. Nordstrom has a 12-month low of $39.53 and a 12-month high of $62.82. The firm’s 50 day moving average is $45.84 and its 200 day moving average is $45.62. The company has a market cap of $7.77 billion, a P/E ratio of 22.14 and a beta of 0.82.
Nordstrom (NYSE:JWN) last released its earnings results on Thursday, August 10th. The specialty retailer reported $0.65 EPS for the quarter, topping analysts’ consensus estimates of $0.62 by $0.03. The business had revenue of $3.72 billion during the quarter, compared to analysts’ expectations of $3.70 billion. Nordstrom had a net margin of 2.44% and a return on equity of 71.57%. The company’s quarterly revenue was up 3.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.67 earnings per share. Equities research analysts anticipate that Nordstrom will post $2.97 EPS for the current fiscal year.
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The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 12th. Stockholders of record on Monday, August 28th were issued a $0.37 dividend. The ex-dividend date of this dividend was Thursday, August 24th. This represents a $1.48 annualized dividend and a dividend yield of 3.17%. Nordstrom’s dividend payout ratio is currently 70.14%.
Several hedge funds have recently modified their holdings of JWN. Parallel Advisors LLC lifted its holdings in shares of Nordstrom by 12.7% in the 1st quarter. Parallel Advisors LLC now owns 2,099 shares of the specialty retailer’s stock worth $104,000 after acquiring an additional 236 shares during the last quarter. Gemmer Asset Management LLC lifted its holdings in shares of Nordstrom by 0.8% in the 2nd quarter. Gemmer Asset Management LLC now owns 2,270 shares of the specialty retailer’s stock worth $109,000 after acquiring an additional 18 shares during the last quarter. NEXT Financial Group Inc lifted its holdings in shares of Nordstrom by 55.4% in the 2nd quarter. NEXT Financial Group Inc now owns 2,642 shares of the specialty retailer’s stock worth $126,000 after acquiring an additional 942 shares during the last quarter. Ameritas Investment Partners Inc. lifted its holdings in shares of Nordstrom by 6,460.5% in the 1st quarter. Ameritas Investment Partners Inc. now owns 2,821 shares of the specialty retailer’s stock worth $131,000 after acquiring an additional 2,778 shares during the last quarter. Finally, Mosaic Family Wealth LLC lifted its holdings in shares of Nordstrom by 3.8% in the 1st quarter. Mosaic Family Wealth LLC now owns 2,953 shares of the specialty retailer’s stock worth $138,000 after acquiring an additional 109 shares during the last quarter. Hedge funds and other institutional investors own 63.71% of the company’s stock.
Nordstrom Company Profile
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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