Nordstrom (NYSE:JWN) Reaches New 12-Month Low at $13.22

Nordstrom, Inc. (NYSE:JWN)’s stock price reached a new 52-week low during mid-day trading on Friday . The stock traded as low as $13.22 and last traded at $13.39, with a volume of 293869 shares trading hands. The stock had previously closed at $13.46.

Analysts Set New Price Targets

A number of equities analysts have recently commented on JWN shares. JPMorgan Chase & Co. dropped their target price on Nordstrom from $21.00 to $20.00 in a report on Sunday, August 27th. Barclays reduced their target price on shares of Nordstrom from $15.00 to $14.00 in a research note on Sunday, August 27th. KeyCorp reduced their price objective on shares of Nordstrom from $22.00 to $19.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 25th. Bank of America dropped their target price on Nordstrom from $14.00 to $13.00 and set an “underperform” rating for the company in a research report on Tuesday, September 26th. Finally, TheStreet upgraded Nordstrom from a “d+” rating to a “c+” rating in a report on Thursday, August 24th. Five research analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $17.75.

Nordstrom Price Performance

The firm has a market capitalization of $2.16 billion, a P/E ratio of 74.78, a P/E/G ratio of 0.87 and a beta of 2.43. The company has a debt-to-equity ratio of 3.87, a current ratio of 0.99 and a quick ratio of 0.43. The stock’s fifty day simple moving average is $14.44 and its 200 day simple moving average is $17.04.

Nordstrom (NYSE:JWN) last released its quarterly earnings results on Thursday, August 24th. The specialty retailer reported $0.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.45 by $0.39. The business had revenue of $3.77 billion for the quarter, compared to analyst estimates of $3.68 billion. Nordstrom had a net margin of 0.21% and a return on equity of 46.55%. The business’s revenue for the quarter was down 7.9% on a year-over-year basis. During the same period in the previous year, the company earned $0.81 earnings per share. On average, equities research analysts predict that Nordstrom, Inc. will post 2.02 EPS for the current year.

Nordstrom Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 13th. Stockholders of record on Tuesday, August 29th were issued a dividend of $0.19 per share. The ex-dividend date was Monday, August 28th. This represents a $0.76 annualized dividend and a dividend yield of 5.70%. Nordstrom’s dividend payout ratio (DPR) is currently 422.22%.

Insider Activity at Nordstrom

In other Nordstrom news, insider Gemma Lionello sold 32,916 shares of the business’s stock in a transaction that occurred on Thursday, October 5th. The shares were sold at an average price of $14.36, for a total transaction of $472,673.76. Following the sale, the insider now owns 39,973 shares of the company’s stock, valued at approximately $574,012.28. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 5.90% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. Prudential Financial Inc. boosted its position in Nordstrom by 3.4% in the first quarter. Prudential Financial Inc. now owns 12,666 shares of the specialty retailer’s stock valued at $344,000 after buying an additional 415 shares during the last quarter. HighTower Advisors LLC lifted its stake in Nordstrom by 0.8% during the 1st quarter. HighTower Advisors LLC now owns 58,656 shares of the specialty retailer’s stock valued at $1,592,000 after acquiring an additional 494 shares during the period. US Bancorp DE boosted its holdings in shares of Nordstrom by 0.7% in the 2nd quarter. US Bancorp DE now owns 72,403 shares of the specialty retailer’s stock valued at $1,482,000 after acquiring an additional 505 shares during the last quarter. Guggenheim Capital LLC increased its stake in shares of Nordstrom by 4.2% in the first quarter. Guggenheim Capital LLC now owns 14,001 shares of the specialty retailer’s stock worth $380,000 after acquiring an additional 568 shares during the period. Finally, Fifth Third Bancorp raised its holdings in shares of Nordstrom by 11.3% during the first quarter. Fifth Third Bancorp now owns 6,353 shares of the specialty retailer’s stock worth $103,000 after purchasing an additional 646 shares during the last quarter. 62.56% of the stock is owned by institutional investors and hedge funds.

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; and clearance stores under the Last Chance name.