Weekly Investment Analysts’ Ratings Updates for Nordstrom (JWN)

A number of firms have modified their ratings and price targets on shares of Nordstrom (NYSE: JWN) recently:

• 11/27/2024 – Nordstrom had its price target raised by analysts at Bank of America Co. from $20.00 to $22.00. They now have an “underperform” rating on the stock.
• 11/27/2024 – Nordstrom was upgraded by analysts at StockNews.com from a “buy” rating to a “strong-buy” rating.
• 11/27/2024 – Nordstrom had its price target raised by analysts at UBS Group AG from $13.00 to $14.50. They now have a “sell” rating on the stock.
• 11/27/2024 – Nordstrom had its price target raised by analysts at Telsey Advisory Group from $24.00 to $26.00. They now have a “market perform” rating on the stock.
• 11/27/2024 – Nordstrom had its price target raised by analysts at Evercore ISI from $20.00 to $22.00. They now have an “in-line” rating on the stock.
• 11/20/2024 – Nordstrom had its “market perform” rating reaffirmed by analysts at Telsey Advisory Group. They now have a $24.00 price target on the stock.
• 11/19/2024 – Nordstrom had its price target raised by analysts at Citigroup Inc. from $22.00 to $23.00. They now have a “neutral” rating on the stock.

Nordstrom Stock Up 1.1 %

Shares of JWN traded up $0.25 during trading on Wednesday, reaching $23.43. The company’s stock had a trading volume of 1,112,995 shares, compared to its average volume of 3,052,283. The company has a fifty day moving average of $22.85 and a two-hundred day moving average of $22.28. Nordstrom, Inc. has a twelve month low of $15.08 and a twelve month high of $24.99. The company has a market cap of $3.85 billion, a price-to-earnings ratio of 14.92 and a beta of 2.56. The company has a quick ratio of 0.35, a current ratio of 1.14 and a debt-to-equity ratio of 2.65.

Nordstrom (NYSE:JWN) last announced its earnings results on Tuesday, November 26th. The specialty retailer reported $0.33 earnings per share (EPS) for the quarter, beating 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 company 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 posted $0.25 EPS. Nordstrom’s quarterly revenue was up 4.6% on a year-over-year basis. On average, sell-side analysts predict that Nordstrom, Inc. will post 1.93 EPS for the current fiscal year.

Nordstrom Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Tuesday, December 3rd will be given a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 3.24%. The ex-dividend date is Tuesday, December 3rd. Nordstrom’s payout ratio is 48.41%.

Insider Buying and Selling at Nordstrom

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

Institutional Investors Weigh In On Nordstrom

Institutional investors and hedge funds have recently made changes to their positions in the company. Cyndeo Wealth Partners LLC bought a new position in Nordstrom during the 3rd quarter worth $6,248,000. Olympiad Research LP bought a new position in Nordstrom during the 3rd quarter worth $508,000. Point72 DIFC Ltd bought a new position in Nordstrom during the 2nd quarter worth $1,174,000. Comerica Bank grew its stake in Nordstrom by 59.9% during the 1st quarter. Comerica Bank now owns 75,806 shares of the specialty retailer’s stock worth $1,537,000 after buying an additional 28,411 shares during the last quarter. Finally, American Century Companies Inc. grew its stake in Nordstrom by 66.2% during the 2nd quarter. American Century Companies Inc. now owns 1,661,227 shares of the specialty retailer’s stock worth $35,251,000 after buying an additional 661,769 shares during the last quarter. 88.73% of the stock is owned by institutional investors and hedge funds.

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.