Nordstrom (NYSE:JWN) Stock Price Up 4.1%

Nordstrom, Inc. (NYSE:JWN)’s stock price was up 4.1% on Wednesday . The company traded as high as $19.40 and last traded at $19.38. Approximately 471,642 shares changed hands during mid-day trading, a decline of 90% from the average daily volume of 4,670,500 shares. The stock had previously closed at $18.62.

Wall Street Analyst Weigh In

JWN has been the topic of a number of research reports. StockNews.com raised shares of Nordstrom from a “hold” rating to a “buy” rating in a research report on Thursday, March 14th. Piper Sandler lifted their price objective on shares of Nordstrom from $17.00 to $20.00 and gave the company a “neutral” rating in a report on Wednesday, March 6th. Bank of America upped their target price on Nordstrom from $13.00 to $15.00 and gave the stock an “underperform” rating in a report on Wednesday, March 6th. JPMorgan Chase & Co. lifted their price target on Nordstrom from $14.00 to $15.00 and gave the company an “underweight” rating in a report on Wednesday, March 6th. Finally, Citigroup decreased their price objective on Nordstrom from $21.00 to $20.00 and set a “neutral” rating for the company in a research note on Wednesday, March 6th. Five analysts have rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $16.54.

Nordstrom Stock Performance

The firm has a market cap of $3.31 billion, a price-to-earnings ratio of 25.34, a P/E/G ratio of 2.26 and a beta of 2.59. The company has a debt-to-equity ratio of 3.08, a current ratio of 1.02 and a quick ratio of 0.41. The firm has a fifty day simple moving average of $19.16 and a two-hundred day simple moving average of $16.85.

Nordstrom (NYSE:JWN) last released its earnings results on Tuesday, March 5th. The specialty retailer reported $0.96 EPS for the quarter, topping 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 company had revenue of $4.29 billion during the quarter, compared to analysts’ expectations of $4.38 billion. During the same period last year, the business earned $0.74 EPS. Nordstrom’s revenue for the quarter was up 2.2% on a year-over-year basis. On average, analysts expect that Nordstrom, Inc. will post 1.8 EPS for the current year.

Nordstrom Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 27th. Investors of record on Tuesday, March 12th were given a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 3.75%. The ex-dividend date of this dividend was Monday, March 11th. Nordstrom’s payout ratio is 95.00%.

Institutional Trading of Nordstrom

A number of institutional investors and hedge funds have recently added to or reduced their stakes in JWN. Vanguard Group Inc. raised 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. lifted its stake in Nordstrom by 1.8% during the 2nd quarter. BlackRock Inc. now owns 10,184,495 shares of the specialty retailer’s stock valued at $208,477,000 after acquiring an additional 182,466 shares during the period. State Street Corp boosted its holdings in shares of Nordstrom by 70.0% in the 2nd quarter. State Street Corp now owns 8,640,239 shares of the specialty retailer’s stock valued at $176,866,000 after acquiring an additional 3,556,576 shares during the last quarter. Cooper Creek Partners Management LLC increased 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 acquiring an additional 1,163,437 shares during the period. Finally, Victory Capital Management Inc. raised its holdings in shares of Nordstrom by 42.2% during 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. Institutional investors and hedge funds own 88.73% of the company’s stock.

About Nordstrom

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; mobile application; and clearance stores under the Last Chance name.