Brokerages Set Nordstrom, Inc. (NYSE:JWN) PT at $25.35

Shares of Nordstrom, Inc. (NYSE:JWNGet Rating) have received a consensus recommendation of “Hold” from the nineteen ratings firms that are presently covering the firm, MarketBeat.com reports. Three research analysts have rated the stock with a sell recommendation, seven have assigned a hold recommendation and three have issued a buy recommendation on the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $25.35.

Several equities analysts have weighed in on JWN shares. Cowen decreased their target price on shares of Nordstrom from $30.00 to $24.00 in a report on Wednesday, May 25th. KeyCorp assumed coverage on shares of Nordstrom in a research note on Wednesday, July 20th. They issued an “overweight” rating and a $30.00 price target on the stock. Morgan Stanley reduced their price target on shares of Nordstrom from $19.00 to $18.00 and set an “underweight” rating on the stock in a research note on Wednesday, August 24th. Cowen reduced their price target on shares of Nordstrom from $30.00 to $24.00 and set a “market perform” rating on the stock in a research note on Wednesday, May 25th. Finally, Credit Suisse Group reduced their price target on shares of Nordstrom to $26.00 in a research note on Wednesday, May 25th.

Insiders Place Their Bets

In other news, CFO Anne L. Bramman sold 13,333 shares of the stock in a transaction dated Tuesday, June 21st. The shares were sold at an average price of $24.66, for a total value of $328,791.78. Following the completion of the transaction, the chief financial officer now owns 93,471 shares in the company, valued at approximately $2,304,994.86. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 5.45% of the stock is owned by insiders.

Hedge Funds Weigh In On Nordstrom

Large investors have recently made changes to their positions in the stock. American Century Companies Inc. increased its holdings in Nordstrom by 19.9% during the 4th quarter. American Century Companies Inc. now owns 15,003 shares of the specialty retailer’s stock valued at $339,000 after acquiring an additional 2,486 shares in the last quarter. Northern Trust Corp increased its holdings in Nordstrom by 0.6% during the 4th quarter. Northern Trust Corp now owns 921,328 shares of the specialty retailer’s stock valued at $20,842,000 after acquiring an additional 5,446 shares in the last quarter. ProShare Advisors LLC increased its holdings in Nordstrom by 30.3% during the 4th quarter. ProShare Advisors LLC now owns 10,085 shares of the specialty retailer’s stock valued at $228,000 after acquiring an additional 2,345 shares in the last quarter. Swiss National Bank increased its holdings in Nordstrom by 0.3% during the 4th quarter. Swiss National Bank now owns 244,800 shares of the specialty retailer’s stock valued at $5,537,000 after acquiring an additional 800 shares in the last quarter. Finally, Raymond James & Associates increased its holdings in Nordstrom by 2.5% during the 4th quarter. Raymond James & Associates now owns 93,797 shares of the specialty retailer’s stock valued at $2,122,000 after acquiring an additional 2,251 shares in the last quarter. Hedge funds and other institutional investors own 59.36% of the company’s stock.

Nordstrom Stock Performance

JWN opened at $19.40 on Thursday. The firm has a market capitalization of $3.09 billion, a PE ratio of 7.70, a PEG ratio of 1.38 and a beta of 2.26. Nordstrom has a twelve month low of $16.83 and a twelve month high of $36.43. The firm’s 50-day moving average price is $21.58 and its 200 day moving average price is $24.05. The company has a current ratio of 1.01, a quick ratio of 0.34 and a debt-to-equity ratio of 4.30.

Nordstrom (NYSE:JWNGet Rating) last posted its quarterly earnings results on Tuesday, August 23rd. The specialty retailer reported $0.81 earnings per share for the quarter, topping analysts’ consensus estimates of $0.80 by $0.01. Nordstrom had a net margin of 2.60% and a return on equity of 70.36%. During the same quarter last year, the firm earned $0.49 EPS. As a group, sell-side analysts expect that Nordstrom will post 2.36 EPS for the current fiscal year.

Nordstrom Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 14th. Shareholders of record on Tuesday, August 30th will be given a dividend of $0.19 per share. The ex-dividend date is Monday, August 29th. This represents a $0.76 dividend on an annualized basis and a yield of 3.92%. Nordstrom’s payout ratio is currently 30.16%.

Nordstrom declared that its Board of Directors has approved a share buyback program on Tuesday, May 24th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the specialty retailer to buy up to 15.2% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board believes its shares are undervalued.

About Nordstrom

(Get Rating)

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; TrunkClub.com; Nordstrom.ca; Nordstrom stores; Nordstrom Rack stores; Nordstrom Locals; Nordstromrack.com and HauteLook; clearance stores under the Last Chance name; Trunk Club clubhouses; and Jeffrey boutiques.

Featured Stories

Analyst Recommendations for Nordstrom (NYSE:JWN)

Receive News & Ratings for Nordstrom Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Nordstrom and related companies with MarketBeat.com's FREE daily email newsletter.