Nordstrom (NYSE:JWN) Upgraded by TheStreet to B-
TheStreet upgraded shares of Nordstrom (NYSE:JWN) from a c+ rating to a b- rating in a research note published on Friday, TheStreetRatingsTable reports.
Other analysts also recently issued reports about the company. Credit Suisse Group restated a hold rating and issued a $33.00 price objective on shares of Nordstrom in a report on Sunday, November 24th. Wedbush increased their target price on shares of Nordstrom from $24.00 to $36.00 and gave the stock a neutral rating in a report on Wednesday, October 23rd. Morgan Stanley dropped their target price on shares of Nordstrom from $40.00 to $33.00 and set an equal weight rating on the stock in a report on Friday, August 23rd. Barclays started coverage on shares of Nordstrom in a report on Tuesday, November 12th. They issued an equal weight rating and a $36.00 price target for the company. Finally, Bank of America restated an underperform rating and issued a $29.00 price target (down previously from $32.00) on shares of Nordstrom in a report on Thursday, August 22nd. Six equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and one has assigned a buy rating to the stock. The stock presently has a consensus rating of Hold and an average target price of $36.88.
JWN opened at $37.54 on Friday. The stock’s fifty day moving average is $36.73 and its two-hundred day moving average is $32.84. The company has a market capitalization of $5.91 billion, a P/E ratio of 10.57, a PEG ratio of 1.87 and a beta of 0.73. Nordstrom has a 52 week low of $25.01 and a 52 week high of $53.77. The company has a quick ratio of 0.26, a current ratio of 0.90 and a debt-to-equity ratio of 5.37.
The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be issued a $0.37 dividend. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a $1.48 dividend on an annualized basis and a yield of 3.94%. Nordstrom’s dividend payout ratio is presently 41.69%.
Large investors have recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD raised its stake in shares of Nordstrom by 1,093.5% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 2,383,907 shares of the specialty retailer’s stock worth $75,951,000 after acquiring an additional 2,184,167 shares in the last quarter. Waddell & Reed Financial Inc. purchased a new position in Nordstrom in the second quarter worth $24,510,000. BTIM Corp. grew its holdings in Nordstrom by 2,776.5% in the second quarter. BTIM Corp. now owns 790,182 shares of the specialty retailer’s stock worth $25,175,000 after purchasing an additional 762,712 shares during the last quarter. Schroder Investment Management Group increased its position in shares of Nordstrom by 50.3% during the second quarter. Schroder Investment Management Group now owns 2,072,022 shares of the specialty retailer’s stock worth $66,015,000 after purchasing an additional 693,633 shares in the last quarter. Finally, State Street Corp increased its position in shares of Nordstrom by 7.9% during the third quarter. State Street Corp now owns 7,426,203 shares of the specialty retailer’s stock worth $250,040,000 after purchasing an additional 543,917 shares in the last quarter. Institutional investors and hedge funds own 66.06% of the company’s stock.
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.
Featured Article: Average Daily Trade Volume – What You Need to Know
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.