Nordstrom (NYSE:JWN) had its price target reduced by Bank of America from $40.00 to $32.00 in a research note published on Wednesday, BenzingaRatingsTable reports. Bank of America currently has an underperform rating on the specialty retailer’s stock.

Several other equities analysts have also issued reports on JWN. Telsey Advisory Group reissued a market perform rating and set a $37.00 price objective (down from $56.00) on shares of Nordstrom in a report on Wednesday. Citigroup cut their price objective on shares of Nordstrom from $48.00 to $37.00 and set a neutral rating on the stock in a report on Wednesday. KeyCorp cut their price objective on shares of Nordstrom from $55.00 to $52.00 and set an overweight rating on the stock in a report on Wednesday. Credit Suisse Group cut their price objective on shares of Nordstrom from $40.00 to $36.00 and set a neutral rating on the stock in a report on Wednesday. Finally, Wedbush reissued a neutral rating and set a $35.00 price objective (down from $40.00) on shares of Nordstrom in a report on Wednesday. Five equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and three have given a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and an average price target of $43.73.

Shares of JWN stock opened at $33.50 on Wednesday. The company has a market cap of $5.19 billion, a P/E ratio of 9.44, a price-to-earnings-growth ratio of 1.70 and a beta of 0.48. The company has a debt-to-equity ratio of 3.07, a quick ratio of 0.41 and a current ratio of 1.00. Nordstrom has a 52-week low of $33.75 and a 52-week high of $67.75.

Nordstrom (NYSE:JWN) last issued its quarterly earnings data on Tuesday, May 21st. The specialty retailer reported $0.23 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.43 by ($0.20). The business had revenue of $3.44 billion for the quarter, compared to analysts’ expectations of $3.54 billion. Nordstrom had a net margin of 3.27% and a return on equity of 52.45%. During the same period in the previous year, the business earned $0.51 earnings per share. Sell-side analysts anticipate that Nordstrom will post 3.72 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 18th. Shareholders of record on Monday, June 3rd will be issued a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 4.42%. The ex-dividend date is Friday, May 31st. Nordstrom’s dividend payout ratio is currently 41.69%.

In other Nordstrom news, insider Ken Worzel sold 17,125 shares of Nordstrom stock in a transaction on Thursday, March 28th. The shares were sold at an average price of $45.00, for a total value of $770,625.00. Following the transaction, the insider now directly owns 102,588 shares of the company’s stock, valued at $4,616,460. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Erik B. Nordstrom sold 1,169 shares of Nordstrom stock in a transaction on Monday, February 25th. The stock was sold at an average price of $44.70, for a total transaction of $52,254.30. Following the completion of the transaction, the insider now directly owns 2,671,406 shares in the company, valued at $119,411,848.20. The disclosure for this sale can be found here. Insiders sold 49,180 shares of company stock worth $2,164,864 over the last ninety days. Corporate insiders own 5.21% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc lifted its stake in shares of Nordstrom by 1.5% during the third quarter. Vanguard Group Inc now owns 12,462,906 shares of the specialty retailer’s stock worth $745,406,000 after buying an additional 178,581 shares during the period. BlackRock Inc. lifted its stake in shares of Nordstrom by 6.4% during the fourth quarter. BlackRock Inc. now owns 10,496,455 shares of the specialty retailer’s stock worth $489,241,000 after buying an additional 630,899 shares during the period. JPMorgan Chase & Co. lifted its stake in shares of Nordstrom by 23.0% during the first quarter. JPMorgan Chase & Co. now owns 7,339,382 shares of the specialty retailer’s stock worth $325,721,000 after buying an additional 1,374,779 shares during the period. Boston Partners lifted its stake in shares of Nordstrom by 57.5% during the fourth quarter. Boston Partners now owns 6,346,355 shares of the specialty retailer’s stock worth $295,804,000 after buying an additional 2,318,179 shares during the period. Finally, Oregon Public Employees Retirement Fund lifted its stake in shares of Nordstrom by 4,156.2% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 2,898,862 shares of the specialty retailer’s stock worth $62,000 after buying an additional 2,830,753 shares during the period. 60.17% of the stock is currently owned by institutional investors and hedge funds.

Nordstrom Company Profile

Nordstrom, Inc, a fashion retailer, provides apparel, shoes, cosmetics, and accessories 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 full-line stores and online store at Nordstrom.com; Nordstrom Rack stores; Nordstromrack.com and HauteLook; Jeffrey boutiques; clearance stores that operate under the Last Chance name; Trunk Club clubhouses and TrunkClub.com; and Nordstrom Locals.

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Analyst Recommendations for Nordstrom (NYSE:JWN)

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