Nordstrom (NYSE:JWN) Price Target Cut to $15.00 by Analysts at Morgan Stanley

Nordstrom (NYSE:JWN) had its price objective trimmed by Morgan Stanley from $16.00 to $15.00 in a research note published on Tuesday morning, Benzinga reports. The brokerage currently has an underweight rating on the specialty retailer’s stock.

Several other equities analysts have also recently issued reports on the stock. JPMorgan Chase & Co. decreased their target price on shares of Nordstrom from $21.00 to $20.00 in a research note on Sunday. Deutsche Bank Aktiengesellschaft increased their target price on shares of Nordstrom from $17.00 to $19.00 in a research note on Thursday, June 1st. Citigroup reduced their price target on Nordstrom from $20.00 to $18.00 and set a neutral rating for the company in a report on Friday, August 25th. UBS Group dropped their price objective on Nordstrom from $12.00 to $11.00 and set a sell rating on the stock in a report on Friday, August 25th. Finally, Barclays reduced their price target on shares of Nordstrom from $15.00 to $14.00 in a research report on Sunday. Four research analysts have rated the stock with a sell rating, nine have given a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, Nordstrom currently has a consensus rating of Hold and an average price target of $18.75.

Nordstrom Trading Up 0.8 %

NYSE JWN opened at $15.67 on Tuesday. Nordstrom has a 1 year low of $14.02 and a 1 year high of $27.15. 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 company has a market capitalization of $2.53 billion, a PE ratio of 87.06, a P/E/G ratio of 2.15 and a beta of 2.30. The company has a fifty day moving average of $20.10 and a 200 day moving average of $18.25.

Nordstrom (NYSE:JWN) last issued its quarterly earnings data on Thursday, August 24th. The specialty retailer reported $0.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.45 by $0.39. The business had revenue of $3.77 billion during the quarter, compared to analysts’ expectations of $3.68 billion. Nordstrom had a return on equity of 46.55% and a net margin of 0.21%. The company’s revenue for the quarter was down 7.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.81 EPS. Research analysts forecast that Nordstrom will post 2 earnings per share for the current year.

Nordstrom Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 13th. Stockholders of record on Tuesday, August 29th will be paid a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 4.85%. The ex-dividend date of this dividend is Monday, August 28th. Nordstrom’s dividend payout ratio (DPR) is 422.22%.

Insider Buying and Selling

In other news, insider Farrell B. Redwine sold 33,364 shares of the firm’s stock in a transaction that occurred on Friday, June 30th. The shares were sold at an average price of $20.37, for a total value of $679,624.68. Following the completion of the transaction, the insider now owns 26,564 shares of the company’s stock, valued at $541,108.68. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, insider Farrell B. Redwine sold 33,364 shares of the business’s stock in a transaction dated Friday, June 30th. The stock was sold at an average price of $20.37, for a total transaction of $679,624.68. Following the completion of the transaction, the insider now directly owns 26,564 shares of the company’s stock, valued at $541,108.68. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Teri Bariquit sold 25,000 shares of the firm’s stock in a transaction on Friday, June 9th. The shares were sold at an average price of $19.51, for a total transaction of $487,750.00. Following the completion of the sale, the insider now owns 56,853 shares in the company, valued at $1,109,202.03. The disclosure for this sale can be found here. 5.90% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. JPMorgan Chase & Co. boosted its stake in Nordstrom by 6.7% in the first quarter. JPMorgan Chase & Co. now owns 203,428 shares of the specialty retailer’s stock valued at $5,515,000 after acquiring an additional 12,787 shares in the last quarter. Raymond James & Associates increased its position in Nordstrom by 13.4% during the first quarter. Raymond James & Associates now owns 106,379 shares of the specialty retailer’s stock worth $2,884,000 after buying an additional 12,582 shares during the period. Raymond James Financial Services Advisors Inc. lifted its stake in Nordstrom by 8.4% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 11,622 shares of the specialty retailer’s stock valued at $315,000 after buying an additional 903 shares during the last quarter. American Century Companies Inc. boosted its holdings in shares of Nordstrom by 27.1% in the first quarter. American Century Companies Inc. now owns 19,066 shares of the specialty retailer’s stock valued at $517,000 after acquiring an additional 4,063 shares during the period. Finally, HighTower Advisors LLC grew its position in shares of Nordstrom by 0.8% during the first quarter. HighTower Advisors LLC now owns 58,656 shares of the specialty retailer’s stock worth $1,592,000 after acquiring an additional 494 shares during the last quarter. Institutional investors and hedge funds own 62.56% 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; and clearance stores under the Last Chance name.