Published On: Tue, Sep 13th, 2016

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.
About Nordstrom
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, approximately 167 off-price Nordstrom Rack stores, two Canada full-line stores, and HauteLook, and other retail channels, including five Trunk Club showrooms and, its two Jeffrey boutiques and one clearance store that operates under the name Last Chance.

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