Nordstrom (JWN) Price Target Lowered to $35.00 at JPMorgan Chase & Co.

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Nordstrom (NYSE:JWN) had its price target decreased by JPMorgan Chase & Co. from $40.00 to $35.00 in a report released on Wednesday, The Fly reports. JPMorgan Chase & Co. currently has an underweight rating on the specialty retailer’s stock.

Several other analysts have also recently commented on JWN. Telsey Advisory Group restated a market perform rating and issued a $37.00 target price (down previously from $56.00) on shares of Nordstrom in a research note on Wednesday. Piper Jaffray Companies reduced their target price on shares of Nordstrom from $40.00 to $33.00 and set a neutral rating for the company in a research note on Wednesday. Zacks Investment Research cut shares of Nordstrom from a buy rating to a hold rating in a research note on Monday, May 13th. Citigroup raised their target price on shares of Nordstrom from $45.00 to $48.00 and gave the stock a neutral rating in a research note on Friday, March 1st. Finally, Gordon Haskett cut shares of Nordstrom from a hold rating to an underperform rating and set a $43.00 target price for the company. in a research note on Thursday, March 21st. Five research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and three have issued a buy rating to the company. The stock has an average rating of Hold and an average price target of $43.73.

Shares of Nordstrom stock opened at $33.50 on Wednesday. Nordstrom has a 1 year low of $33.75 and a 1 year high of $67.75. The company has a current ratio of 1.00, a quick ratio of 0.41 and a debt-to-equity ratio of 3.07. The firm has a market cap of $5.19 billion, a price-to-earnings ratio of 9.44, a price-to-earnings-growth ratio of 1.70 and a beta of 0.48.

Nordstrom (NYSE:JWN) last issued its quarterly earnings data on Tuesday, May 21st. The specialty retailer reported $0.23 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.43 by ($0.20). Nordstrom had a return on equity of 52.45% and a net margin of 3.27%. The business had revenue of $3.44 billion for the quarter, compared to analysts’ expectations of $3.54 billion. During the same period in the previous year, the business posted $0.51 earnings per share. On average, research analysts forecast that Nordstrom will post 3.72 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 18th. Investors of record on Monday, June 3rd will be paid a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 4.42%. The ex-dividend date of this dividend is Friday, May 31st. Nordstrom’s dividend payout ratio (DPR) is 41.69%.

In related news, insider Erik B. Nordstrom sold 17,762 shares of the firm’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $44.07, for a total value of $782,771.34. Following the completion of the sale, the insider now owns 2,653,314 shares in the company, valued at $116,931,547.98. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Erik B. Nordstrom sold 1,169 shares of the firm’s stock in a transaction dated Monday, February 25th. The shares were sold at an average price of $44.70, for a total transaction of $52,254.30. Following the completion of the sale, the insider now owns 2,671,406 shares of the company’s stock, valued at approximately $119,411,848.20. The disclosure for this sale can be found here. Insiders sold 49,180 shares of company stock valued at $2,164,864 in the last quarter. Company insiders own 5.21% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc lifted its stake in shares of Nordstrom by 1.5% in the third quarter. Vanguard Group Inc now owns 12,462,906 shares of the specialty retailer’s stock valued at $745,406,000 after purchasing an additional 178,581 shares during the period. BlackRock Inc. lifted its stake in shares of Nordstrom by 6.4% in the fourth quarter. BlackRock Inc. now owns 10,496,455 shares of the specialty retailer’s stock valued at $489,241,000 after purchasing an additional 630,899 shares during the period. JPMorgan Chase & Co. lifted its stake in shares of Nordstrom by 23.0% in the first quarter. JPMorgan Chase & Co. now owns 7,339,382 shares of the specialty retailer’s stock valued at $325,721,000 after purchasing an additional 1,374,779 shares during the period. Boston Partners raised its position in Nordstrom by 57.5% during the fourth quarter. Boston Partners now owns 6,346,355 shares of the specialty retailer’s stock worth $295,804,000 after acquiring an additional 2,318,179 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund raised its position in Nordstrom by 4,156.2% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 2,898,862 shares of the specialty retailer’s stock worth $62,000 after acquiring an additional 2,830,753 shares during the last quarter. Hedge funds and other institutional investors own 60.17% 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.

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Analyst Recommendations for Nordstrom (NYSE:JWN)

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