Cowen and Company reiterated their outperform rating on shares of Nordstrom, Inc. (NYSE:JWN) in a research note published on Tuesday. They currently have a $49.00 price objective on the specialty retailer’s stock.

JWN has been the topic of several other research reports. Citigroup Inc. dropped their target price on Nordstrom from $50.00 to $46.00 and set a neutral rating on the stock in a research report on Friday, May 12th. Royal Bank Of Canada set a $45.00 target price on Nordstrom and gave the stock a hold rating in a research report on Tuesday. Northcoast Research restated a neutral rating on shares of Nordstrom in a research report on Tuesday, May 16th. Maxim Group set a $61.00 target price on Nordstrom and gave the stock a buy rating in a research report on Thursday, May 4th. Finally, TheStreet downgraded Nordstrom from a b- rating to a c rating in a research report on Thursday, May 11th. Four research analysts have rated the stock with a sell rating, seventeen have given a hold rating and eight have assigned a buy rating to the company. The stock presently has a consensus rating of Hold and an average target price of $48.10.

Shares of Nordstrom (JWN) opened at 44.54 on Tuesday. The stock’s 50 day moving average price is $46.42 and its 200-day moving average price is $45.56. The company has a market capitalization of $7.40 billion, a PE ratio of 21.10 and a beta of 0.83. Nordstrom has a 52-week low of $39.53 and a 52-week high of $62.82.

Nordstrom (NYSE:JWN) last posted its earnings results on Thursday, August 10th. The specialty retailer reported $0.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.62 by $0.03. The firm had revenue of $3.72 billion for the quarter, compared to the consensus estimate of $3.70 billion. Nordstrom had a return on equity of 71.57% and a net margin of 2.44%. The business’s quarterly revenue was up 3.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.67 earnings per share. On average, analysts expect that Nordstrom will post $2.97 earnings per share for the current year.

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The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 12th. Stockholders of record on Monday, August 28th will be paid a dividend of $0.37 per share. The ex-dividend date is Thursday, August 24th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 3.32%. Nordstrom’s dividend payout ratio (DPR) is currently 70.14%.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Bank of New York Mellon Corp boosted its position in shares of Nordstrom by 37.8% in the second quarter. Bank of New York Mellon Corp now owns 10,882,305 shares of the specialty retailer’s stock worth $520,501,000 after buying an additional 2,985,551 shares during the period. BlackRock Inc. boosted its stake in Nordstrom by 1.9% in the second quarter. BlackRock Inc. now owns 8,171,548 shares of the specialty retailer’s stock valued at $390,843,000 after buying an additional 150,539 shares during the last quarter. State Street Corp boosted its stake in Nordstrom by 2.6% in the first quarter. State Street Corp now owns 6,330,520 shares of the specialty retailer’s stock valued at $294,822,000 after buying an additional 160,947 shares during the last quarter. Morgan Stanley boosted its stake in Nordstrom by 9.8% in the first quarter. Morgan Stanley now owns 3,495,790 shares of the specialty retailer’s stock valued at $162,799,000 after buying an additional 311,529 shares during the last quarter. Finally, Skandinaviska Enskilda Banken AB publ boosted its stake in Nordstrom by 32.2% in the first quarter. Skandinaviska Enskilda Banken AB publ now owns 3,354,037 shares of the specialty retailer’s stock valued at $156,198,000 after buying an additional 816,498 shares during the last quarter. 63.69% of the stock is currently owned by hedge funds and other institutional investors.

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.

Analyst Recommendations for Nordstrom (NYSE:JWN)

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