Nordstrom Inc. (JWN) Given Buy Rating at Stifel Nicolaus
Nordstrom Inc. (NYSE:JWN)‘s stock had its “buy” rating reiterated by equities researchers at Stifel Nicolaus in a note issued to investors on Tuesday. They presently have a $58.00 price objective on the stock. Stifel Nicolaus’ target price indicates a potential upside of 15.31% from the stock’s current price.
Other research analysts have also recently issued reports about the stock. Vetr cut shares of Nordstrom from a “strong-buy” rating to a “buy” rating and set a $43.19 price target on the stock. in a report on Thursday, July 7th. Maxim Group initiated coverage on shares of Nordstrom in a report on Wednesday, June 15th. They issued a “buy” rating and a $50.00 price target on the stock. Deutsche Bank AG increased their price target on shares of Nordstrom from $47.00 to $57.00 and gave the company a “buy” rating in a report on Friday, August 12th. Zacks Investment Research raised shares of Nordstrom from a “sell” rating to a “hold” rating and set a $48.00 price target on the stock in a report on Tuesday, July 26th. Finally, Argus reissued a “hold” rating on shares of Nordstrom in a report on Monday, June 13th. Seven equities research analysts have rated the stock with a sell rating, eighteen have given a hold rating and eight have given a buy rating to the company’s stock. Nordstrom presently has a consensus rating of “Hold” and an average price target of $47.13.
Shares of Nordstrom (NYSE:JWN) traded down 1.75% on Tuesday, hitting $49.42. The stock had a trading volume of 493,579 shares. The company has a 50 day moving average of $48.30 and a 200-day moving average of $46.90. Nordstrom has a 12-month low of $35.01 and a 12-month high of $75.67. The firm has a market capitalization of $8.56 billion, a P/E ratio of 21.06 and a beta of 0.93.
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Nordstrom (NYSE:JWN) last released its quarterly earnings results on Thursday, August 11th. The company reported $0.67 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.56 by $0.11. The firm had revenue of $3.65 billion for the quarter, compared to analysts’ expectations of $3.67 billion. Nordstrom had a net margin of 2.95% and a return on equity of 47.22%. The business’s revenue was down .2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.93 EPS. Equities analysts predict that Nordstrom will post $2.73 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 13th. Shareholders of record on Monday, August 29th will be paid a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 2.94%. The ex-dividend date is Thursday, August 25th. Nordstrom’s dividend payout ratio (DPR) is currently 62.98%.
A number of large investors have recently bought and sold shares of the stock. Wellington Management Group LLP increased its stake in Nordstrom by 38.1% in the first quarter. Wellington Management Group LLP now owns 2,972,301 shares of the company’s stock valued at $170,046,000 after buying an additional 819,877 shares during the period. Bank of Montreal Can bought a new stake in Nordstrom during the second quarter valued at $111,916,000. Norges Bank bought a new stake in Nordstrom during the fourth quarter valued at $83,978,000. TIAA CREF Investment Management LLC increased its stake in Nordstrom by 22.7% in the first quarter. TIAA CREF Investment Management LLC now owns 696,390 shares of the company’s stock valued at $39,840,000 after buying an additional 128,940 shares during the period. Finally, Legal & General Group Plc increased its stake in Nordstrom by 1.2% in the first quarter. Legal & General Group Plc now owns 666,378 shares of the company’s stock valued at $38,124,000 after buying an additional 7,922 shares during the period. 65.49% of the stock is owned by hedge funds and other institutional investors.
Nordstrom, Inc is a fashion specialty retailer in the United States. The company operates through two segments: Retail and Credit. The Retail segment includes approximately 115 Nordstrom branded full-line stores in the United States and Nordstrom.com, approximately 167 off-price Nordstrom Rack stores, two Canada full-line stores, Nordstromrack.com and HauteLook, and other retail channels, including five Trunk Club showrooms and TrunkClub.com, its two Jeffrey boutiques and one clearance store that operates under the name Last Chance.
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