Nordstrom (NYSE:JWN) Stock Rating Upgraded by StockNews.com

StockNews.com upgraded shares of Nordstrom (NYSE:JWNFree Report) from a hold rating to a buy rating in a report published on Thursday morning.

A number of other research firms have also recently weighed in on JWN. Citigroup dropped their target price on shares of Nordstrom from $21.00 to $20.00 and set a neutral rating on the stock in a research note on Wednesday, March 6th. Morgan Stanley dropped their price target on shares of Nordstrom from $14.00 to $13.00 and set an underweight rating on the stock in a research note on Tuesday, November 28th. The Goldman Sachs Group lifted their price objective on shares of Nordstrom from $16.00 to $18.00 and gave the company a neutral rating in a research note on Wednesday, March 6th. Barclays raised their price target on Nordstrom from $14.00 to $15.00 and gave the stock an underweight rating in a report on Wednesday, March 6th. Finally, JPMorgan Chase & Co. raised their price target on Nordstrom from $14.00 to $15.00 and gave the stock an underweight rating in a report on Wednesday, March 6th. Five investment analysts have rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of Hold and an average target price of $16.54.

View Our Latest Analysis on Nordstrom

Nordstrom Trading Down 1.8 %

JWN opened at $17.29 on Thursday. Nordstrom has a 1-year low of $12.88 and a 1-year high of $23.53. The company has a current ratio of 1.02, a quick ratio of 0.41 and a debt-to-equity ratio of 3.08. The company has a market cap of $2.81 billion, a P/E ratio of 21.61, a price-to-earnings-growth ratio of 2.00 and a beta of 2.59. The company has a fifty day moving average price of $19.01 and a two-hundred day moving average price of $16.64.

Nordstrom (NYSE:JWNGet Free Report) last issued its quarterly earnings data on Tuesday, March 5th. The specialty retailer reported $0.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.90 by $0.06. Nordstrom had a net margin of 0.91% and a return on equity of 49.30%. The firm had revenue of $4.29 billion during the quarter, compared to analysts’ expectations of $4.38 billion. During the same period last year, the company earned $0.74 earnings per share. The business’s revenue was up 2.2% on a year-over-year basis. Analysts predict that Nordstrom will post 1.84 EPS for the current fiscal year.

Nordstrom Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 27th. Stockholders of record on Tuesday, March 12th will be paid a dividend of $0.19 per share. The ex-dividend date is Monday, March 11th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 4.40%. Nordstrom’s dividend payout ratio (DPR) is currently 95.00%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. grew its stake in shares of Nordstrom by 1.3% in the third quarter. Vanguard Group Inc. now owns 10,459,699 shares of the specialty retailer’s stock worth $174,992,000 after purchasing an additional 131,102 shares during the last quarter. BlackRock Inc. grew its stake in shares of Nordstrom by 1.8% in the second quarter. BlackRock Inc. now owns 10,184,495 shares of the specialty retailer’s stock worth $208,477,000 after purchasing an additional 182,466 shares during the last quarter. State Street Corp grew its stake in shares of Nordstrom by 70.0% in the second quarter. State Street Corp now owns 8,640,239 shares of the specialty retailer’s stock worth $176,866,000 after purchasing an additional 3,556,576 shares during the last quarter. Cooper Creek Partners Management LLC grew its stake in shares of Nordstrom by 42.4% in the third quarter. Cooper Creek Partners Management LLC now owns 3,908,377 shares of the specialty retailer’s stock worth $58,391,000 after purchasing an additional 1,163,437 shares during the last quarter. Finally, Victory Capital Management Inc. grew its stake in shares of Nordstrom by 42.2% in the fourth quarter. Victory Capital Management Inc. now owns 3,288,612 shares of the specialty retailer’s stock worth $60,675,000 after purchasing an additional 975,918 shares during the last quarter. 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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