Nordstrom (NYSE:JWN) Price Target Raised to $14.50 at UBS Group

Nordstrom (NYSE:JWN) had its target price raised by UBS Group from $13.00 to $14.50 in a research note released on Wednesday,Benzinga reports. UBS Group currently has a sell rating on the specialty retailer’s stock.

A number of other research analysts have also recently issued reports on JWN. Bank of America lifted their price target on Nordstrom from $20.00 to $22.00 and gave the company an “underperform” rating in a report on Wednesday. JPMorgan Chase & Co. boosted their target price on shares of Nordstrom from $19.00 to $20.00 and gave the stock an “underweight” rating in a research note on Wednesday, August 28th. The Goldman Sachs Group increased their price target on shares of Nordstrom from $19.00 to $21.00 and gave the company a “neutral” rating in a research note on Wednesday, August 28th. KeyCorp cut shares of Nordstrom from an “overweight” rating to a “sector weight” rating in a research report on Thursday, September 26th. Finally, Citigroup increased their price objective on Nordstrom from $22.00 to $23.00 and gave the company a “neutral” rating in a research report on Tuesday, November 19th. Three equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $21.29.

Nordstrom Price Performance

Shares of Nordstrom stock opened at $22.71 on Wednesday. The stock has a market capitalization of $3.73 billion, a price-to-earnings ratio of 14.47 and a beta of 2.59. The firm’s 50-day moving average price is $22.85 and its two-hundred day moving average price is $22.24. The company has a current ratio of 1.14, a quick ratio of 0.41 and a debt-to-equity ratio of 2.65. Nordstrom has a 1-year low of $15.08 and a 1-year high of $24.99.

Nordstrom (NYSE:JWN) last released its quarterly earnings results on Tuesday, November 26th. The specialty retailer reported $0.33 EPS for the quarter, topping analysts’ consensus estimates of $0.22 by $0.11. Nordstrom had a negative return on equity of 18.04% and a negative net margin of 1.57%. The business had revenue of $3.35 billion for the quarter, compared to analyst estimates of $3.34 billion. During the same period in the prior year, the company earned $0.25 EPS. Nordstrom’s revenue for the quarter was up 4.6% on a year-over-year basis. On average, equities analysts predict that Nordstrom will post 1.93 earnings per share for the current fiscal year.

Nordstrom Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Tuesday, December 3rd will be paid a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 3.35%. The ex-dividend date is Tuesday, December 3rd. Nordstrom’s payout ratio is 48.41%.

Insider Transactions at Nordstrom

In related news, COO Alexis Depree sold 20,000 shares of the stock in a transaction that occurred on Tuesday, September 24th. The shares were sold at an average price of $23.20, for a total value of $464,000.00. Following the sale, the chief operating officer now directly owns 169,331 shares in the company, valued at $3,928,479.20. This trade represents a 10.56 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 5.78% of the company’s stock.

Institutional Investors Weigh In On Nordstrom

Large investors have recently bought and sold shares of the company. CANADA LIFE ASSURANCE Co increased its position in shares of Nordstrom by 0.6% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 90,144 shares of the specialty retailer’s stock valued at $1,828,000 after buying an additional 520 shares in the last quarter. Atlas Capital Advisors LLC increased its holdings in shares of Nordstrom by 101.8% in the second quarter. Atlas Capital Advisors LLC now owns 1,491 shares of the specialty retailer’s stock worth $32,000 after acquiring an additional 752 shares in the last quarter. State of Alaska Department of Revenue raised its position in shares of Nordstrom by 7.3% during the third quarter. State of Alaska Department of Revenue now owns 11,236 shares of the specialty retailer’s stock worth $252,000 after purchasing an additional 760 shares during the period. Stephens Inc. AR lifted its holdings in shares of Nordstrom by 0.5% during the 3rd quarter. Stephens Inc. AR now owns 153,061 shares of the specialty retailer’s stock valued at $3,442,000 after purchasing an additional 805 shares in the last quarter. Finally, CWM LLC grew its position in shares of Nordstrom by 28.7% in the 3rd quarter. CWM LLC now owns 3,628 shares of the specialty retailer’s stock valued at $82,000 after purchasing an additional 810 shares during the period. Institutional investors 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.