Nordstrom (NYSE:JWN) Shares Up 4.1%

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

Wall Street Analyst Weigh In

JWN has been the subject of several analyst reports. Piper Sandler increased their target price on shares of Nordstrom from $17.00 to $20.00 and gave the company a “neutral” rating in a report on Wednesday, March 6th. Barclays lifted their target price on shares of Nordstrom from $14.00 to $15.00 and gave the stock an “underweight” rating in a research report on Wednesday, March 6th. Jefferies Financial Group reaffirmed a “hold” rating and set a $17.00 price target (down from $18.00) on shares of Nordstrom in a research report on Thursday, March 7th. Citigroup cut their price objective on Nordstrom from $21.00 to $20.00 and set a “neutral” rating on the stock in a research report on Wednesday, March 6th. Finally, JPMorgan Chase & Co. raised their target price on Nordstrom from $14.00 to $15.00 and gave the company an “underweight” rating in a research report on Wednesday, March 6th. Five equities research analysts have rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $16.54.

Nordstrom Stock Up 1.8 %

The company has a quick ratio of 0.41, a current ratio of 1.02 and a debt-to-equity ratio of 3.08. The company’s fifty day moving average price is $19.16 and its 200-day moving average price is $16.85. The stock has a market capitalization of $3.31 billion, a PE ratio of 25.34, a price-to-earnings-growth ratio of 2.26 and a beta of 2.59.

Nordstrom (NYSE:JWN) last posted its quarterly earnings results on Tuesday, March 5th. The specialty retailer reported $0.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.90 by $0.06. The firm had revenue of $4.29 billion during the quarter, compared to analyst estimates of $4.38 billion. Nordstrom had a return on equity of 49.30% and a net margin of 0.91%. Nordstrom’s quarterly revenue was up 2.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.74 EPS. Analysts forecast that Nordstrom, Inc. will post 1.8 earnings per share for the current year.

Nordstrom Announces Dividend

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

Hedge Funds Weigh In On Nordstrom

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Lazard Asset Management LLC purchased a new position in shares of Nordstrom in the second quarter worth $29,000. Hexagon Capital Partners LLC raised its position in Nordstrom by 77.6% in the 4th quarter. Hexagon Capital Partners LLC now owns 1,989 shares of the specialty retailer’s stock worth $37,000 after buying an additional 869 shares during the last quarter. Advisory Services Network LLC lifted its stake in Nordstrom by 315.9% during the 1st quarter. Advisory Services Network LLC now owns 2,487 shares of the specialty retailer’s stock valued at $40,000 after acquiring an additional 1,889 shares during the period. Captrust Financial Advisors boosted its holdings in shares of Nordstrom by 44.9% during the 2nd quarter. Captrust Financial Advisors now owns 2,738 shares of the specialty retailer’s stock valued at $58,000 after acquiring an additional 849 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale bought a new stake in shares of Nordstrom in the third quarter worth approximately $45,000. 88.73% of the stock is owned by institutional investors.

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.