Nordstrom (NYSE:JWN) Rating Increased to Buy at StockNews.com

StockNews.com upgraded shares of Nordstrom (NYSE:JWNFree Report) from a hold rating to a buy rating in a research report sent to investors on Friday morning.

A number of other equities analysts have also issued reports on JWN. Telsey Advisory Group decreased their price target on Nordstrom from $19.00 to $17.00 and set a market perform rating for the company in a research note on Wednesday, November 22nd. Piper Sandler cut their price objective on Nordstrom from $20.00 to $17.00 and set a neutral rating for the company in a research report on Wednesday, November 22nd. The Goldman Sachs Group cut their price objective on Nordstrom from $18.00 to $16.00 and set a neutral rating for the company in a research report on Wednesday, November 22nd. KeyCorp cut their price objective on Nordstrom from $22.00 to $19.00 and set an overweight rating for the company in a research report on Wednesday, October 25th. Finally, Morgan Stanley reduced their target price on Nordstrom from $14.00 to $13.00 and set an underweight rating for the company in a report on Tuesday, November 28th. Four analysts have rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of Hold and an average target price of $16.50.

Read Our Latest Stock Report on JWN

Nordstrom Stock Up 4.5 %

NYSE:JWN opened at $19.99 on Friday. The firm has a market capitalization of $3.24 billion, a PE ratio of 27.76, a price-to-earnings-growth ratio of 1.99 and a beta of 2.58. The stock has a 50 day moving average of $18.15 and a 200-day moving average of $16.72. Nordstrom has a 52 week low of $12.88 and a 52 week high of $23.53. The company has a current ratio of 1.00, a quick ratio of 0.29 and a debt-to-equity ratio of 3.58.

Nordstrom (NYSE:JWNGet Free Report) last posted its earnings results on Tuesday, November 21st. The specialty retailer reported $0.25 EPS for the quarter, beating the consensus estimate of $0.13 by $0.12. Nordstrom had a return on equity of 45.64% and a net margin of 0.81%. The company had revenue of $3.32 billion during the quarter, compared to analyst estimates of $3.41 billion. During the same period in the prior year, the company earned $0.20 earnings per share. The business’s revenue was down 6.4% compared to the same quarter last year. Analysts predict that Nordstrom will post 2.06 EPS for the current year.

Nordstrom Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 13th. Stockholders of record on Tuesday, November 28th were given a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 3.80%. The ex-dividend date was Monday, November 27th. Nordstrom’s dividend payout ratio is presently 105.56%.

Institutional Trading of Nordstrom

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Lazard Asset Management LLC bought a new stake in Nordstrom during the second quarter worth $29,000. Hexagon Capital Partners LLC raised its position in shares of Nordstrom by 77.6% in the fourth quarter. Hexagon Capital Partners LLC now owns 1,989 shares of the specialty retailer’s stock valued at $37,000 after purchasing an additional 869 shares during the period. Advisory Services Network LLC raised its position in shares of Nordstrom by 315.9% in the first quarter. Advisory Services Network LLC now owns 2,487 shares of the specialty retailer’s stock valued at $40,000 after purchasing an additional 1,889 shares during the period. DekaBank Deutsche Girozentrale bought a new position in shares of Nordstrom in the third quarter valued at about $45,000. Finally, Dark Forest Capital Management LP raised its position in shares of Nordstrom by 194.2% in the first quarter. Dark Forest Capital Management LP now owns 3,195 shares of the specialty retailer’s stock valued at $52,000 after purchasing an additional 2,109 shares during the period. 62.56% of the stock is owned by institutional investors.

Nordstrom Company Profile

(Get Free Report)

Nordstrom, Inc, a fashion retailer, provides apparels, shoes, beauty, accessories, and home goods for women, men, young adults, and children. It offers a range of brand name and private label merchandise through various channels, such as Nordstrom branded stores and online at Nordstrom.com; Nordstrom.ca; Nordstrom stores; Nordstrom Rack stores; Nordstrom Locals; ASOS; Nordstromrack.com; and clearance stores under the Last Chance name.

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Analyst Recommendations for Nordstrom (NYSE:JWN)

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