Analysts Set Nordstrom, Inc. (JWN) Price Target at $47.35

Nordstrom, Inc. (NYSE:JWN) has earned a consensus recommendation of “Hold” from the twenty-one analysts that are covering the company, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a sell recommendation, thirteen have issued a hold recommendation and four have given a buy recommendation to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $47.35.

JWN has been the subject of a number of research reports. BMO Capital Markets lifted their target price on shares of Nordstrom from $50.00 to $55.00 and gave the stock a “market perform” rating in a research report on Monday, March 5th. Deutsche Bank upgraded shares of Nordstrom from a “hold” rating to a “buy” rating and lifted their target price for the stock from $52.00 to $55.00 in a research report on Wednesday, May 23rd. Robert W. Baird restated a “neutral” rating on shares of Nordstrom in a research report on Friday, March 2nd. TheStreet upgraded shares of Nordstrom from a “c+” rating to a “b-” rating in a research report on Friday, March 2nd. Finally, Royal Bank of Canada set a $49.00 target price on shares of Nordstrom and gave the stock a “hold” rating in a research report on Friday, March 2nd.

In related news, insider Erik B. Nordstrom sold 3,379 shares of the business’s stock in a transaction that occurred on Monday, June 11th. The shares were sold at an average price of $53.00, for a total value of $179,087.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Ken Worzel sold 535 shares of the business’s stock in a transaction that occurred on Monday, May 14th. The shares were sold at an average price of $49.00, for a total transaction of $26,215.00. Following the completion of the sale, the insider now owns 124,619 shares of the company’s stock, valued at $6,106,331. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 40,466 shares of company stock valued at $2,003,183. Insiders own 7.05% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp lifted its holdings in Nordstrom by 11.8% in the 4th quarter. Bank of New York Mellon Corp now owns 10,245,078 shares of the specialty retailer’s stock valued at $485,413,000 after acquiring an additional 1,078,880 shares during the last quarter. Millennium Management LLC raised its stake in shares of Nordstrom by 301.9% during the fourth quarter. Millennium Management LLC now owns 1,272,685 shares of the specialty retailer’s stock valued at $60,300,000 after acquiring an additional 955,994 shares in the last quarter. Neuberger Berman Group LLC raised its stake in shares of Nordstrom by 253.1% during the first quarter. Neuberger Berman Group LLC now owns 813,031 shares of the specialty retailer’s stock valued at $39,359,000 after acquiring an additional 582,768 shares in the last quarter. Disciplined Growth Investors Inc. MN raised its stake in shares of Nordstrom by 60.6% during the fourth quarter. Disciplined Growth Investors Inc. MN now owns 1,428,767 shares of the specialty retailer’s stock valued at $67,695,000 after acquiring an additional 539,040 shares in the last quarter. Finally, Schroder Investment Management Group raised its stake in shares of Nordstrom by 97.6% during the fourth quarter. Schroder Investment Management Group now owns 1,036,341 shares of the specialty retailer’s stock valued at $49,102,000 after acquiring an additional 511,905 shares in the last quarter. Hedge funds and other institutional investors own 56.55% of the company’s stock.

Nordstrom traded down $1.52, reaching $49.97, during midday trading on Monday, according to MarketBeat Ratings. 126,253 shares of the company’s stock were exchanged, compared to its average volume of 2,044,579. The company has a current ratio of 1.09, a quick ratio of 0.44 and a debt-to-equity ratio of 2.50. The stock has a market cap of $8.75 billion, a P/E ratio of 16.90, a PEG ratio of 2.53 and a beta of 0.81. Nordstrom has a 1-year low of $37.79 and a 1-year high of $54.00.

Nordstrom (NYSE:JWN) last announced its earnings results on Thursday, May 17th. The specialty retailer reported $0.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.43 by $0.08. The company had revenue of $3.56 billion during the quarter, compared to analysts’ expectations of $3.47 billion. Nordstrom had a net margin of 2.96% and a return on equity of 55.75%. During the same quarter in the previous year, the business posted $0.37 earnings per share. analysts forecast that Nordstrom will post 3.45 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Monday, June 4th. Stockholders of record on Friday, May 18th were issued a dividend of $0.37 per share. The ex-dividend date of this dividend was Thursday, May 17th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 2.96%. Nordstrom’s dividend payout ratio (DPR) is presently 50.00%.

Nordstrom Company Profile

Nordstrom, Inc, a fashion retailer, provides apparel, shoes, cosmetics, and accessories for women, men, young adults, and children in the United States and Canada. The company operates in two segments, Retail and Credit. The Retail segment offers a range of brand name and private label merchandise through various channels, including Nordstrom branded full-line stores and online store at Nordstrom.com; Nordstrom Rack stores; Nordstromrack.com and HauteLook; Trunk Club clubhouses and TrunkClub.com; Jeffrey boutiques; and clearance stores that operate under the Last Chance name.

Analyst Recommendations for Nordstrom (NYSE:JWN)

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