Nordstrom Inc. (JWN) Given a $58.00 Price Target at Stifel Nicolaus
Several other equities analysts have also recently weighed in on JWN. KeyCorp reaffirmed an overweight rating and set a $52.00 target price on shares of Nordstrom in a research note on Thursday, May 26th. Buckingham Research reaffirmed a reduce rating and set a $47.00 target price on shares of Nordstrom in a research note on Tuesday, May 31st. Argus reaffirmed a hold rating on shares of Nordstrom in a research note on Monday, June 13th. Maxim Group initiated coverage on shares of Nordstrom in a research note on Wednesday, June 15th. They set a buy rating and a $50.00 target price for the company. Finally, Miller Tabak raised shares of Nordstrom from a sell rating to a hold rating and raised their target price for the company from $30.00 to $39.50 in a research note on Tuesday, July 5th. They noted that the move was a valuation call. Seven analysts have rated the stock with a sell rating, eighteen have given a hold rating and eight have issued a buy rating to the company. Nordstrom currently has an average rating of Hold and a consensus price target of $47.13.
Shares of Nordstrom (NYSE:JWN) traded up 1.515% during trading on Thursday, hitting $51.255. 1,232,653 shares of the stock traded hands. The firm’s 50-day moving average price is $50.03 and its 200-day moving average price is $46.86. Nordstrom has a 12 month low of $35.01 and a 12 month high of $75.67. The stock has a market cap of $8.89 billion, a PE ratio of 21.839 and a beta of 0.93.
Nordstrom (NYSE:JWN) last posted its 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 company earned $3.65 billion during 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%. Nordstrom’s quarterly revenue was down .2% on a year-over-year basis. During the same period last year, the company posted $0.93 earnings per share. Analysts anticipate that Nordstrom will post $2.73 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, September 13th. Shareholders of record on Monday, August 29th were given a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 2.93%. The ex-dividend date was Thursday, August 25th. Nordstrom’s dividend payout ratio is presently 62.98%.
A number of hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in shares of Nordstrom by 16.4% in the second quarter. Vanguard Group Inc. now owns 13,840,222 shares of the company’s stock valued at $526,621,000 after buying an additional 1,945,151 shares during the last quarter. Bank of New York Mellon Corp boosted its position in Nordstrom by 5.6% in the second quarter. Bank of New York Mellon Corp now owns 7,853,110 shares of the company’s stock valued at $298,811,000 after buying an additional 414,860 shares in the last quarter. BlackRock Institutional Trust Company N.A. boosted its position in Nordstrom by 4.3% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 3,861,213 shares of the company’s stock valued at $146,919,000 after buying an additional 160,682 shares in the last quarter. Hotchkis & Wiley Capital Management LLC boosted its position in Nordstrom by 34.9% in the second quarter. Hotchkis & Wiley Capital Management LLC now owns 3,594,094 shares of the company’s stock valued at $136,755,000 after buying an additional 929,597 shares in the last quarter. Finally, Wellington Management Group LLP boosted its position 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 in the last quarter. 65.48% of the stock is currently owned by institutional investors.
Nordstrom Company Profile
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 Nordstrom.com, approximately 167 off-price Nordstrom Rack stores, two Canada full-line stores, Nordstromrack.com and HauteLook, and other retail channels, including five Trunk Club showrooms and TrunkClub.com, its two Jeffrey boutiques and one clearance store that operates under the name Last Chance.
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