Nordstrom (NYSE:JWN) Given New $22.00 Price Target at BMO Capital Markets

Nordstrom (NYSE:JWN) had its target price lifted by BMO Capital Markets from $20.00 to $22.00 in a research report sent to investors on Wednesday morning, Benzinga reports. BMO Capital Markets currently has a market perform rating on the specialty retailer’s stock.

JWN has been the subject of several other research reports. StockNews.com raised Nordstrom from a hold rating to a buy rating in a report on Thursday, August 8th. Evercore ISI raised their target price on Nordstrom from $17.00 to $19.00 and gave the stock an in-line rating in a research note on Friday, May 31st. Barclays raised their target price on Nordstrom from $15.00 to $18.00 and gave the stock an underweight rating in a research note on Friday, May 31st. JPMorgan Chase & Co. raised their target price on Nordstrom from $15.00 to $17.00 and gave the stock an underweight rating in a research note on Friday, May 17th. Finally, Bank of America raised their target price on Nordstrom from $18.00 to $20.00 and gave the stock an underperform rating in a research note on Wednesday. Four research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the company. According to MarketBeat, Nordstrom currently has a consensus rating of Hold and a consensus price target of $19.85.

Nordstrom Trading Up 4.1 %

Shares of JWN opened at $22.01 on Wednesday. The business has a 50-day moving average of $21.92 and a 200 day moving average of $20.67. Nordstrom has a fifty-two week low of $12.88 and a fifty-two week high of $24.03. The firm has a market cap of $3.60 billion, a P/E ratio of 12.03, a price-to-earnings-growth ratio of 2.55 and a beta of 2.62. The company has a debt-to-equity ratio of 3.13, a quick ratio of 0.36 and a current ratio of 1.03.

Nordstrom (NYSE:JWN) last announced its quarterly earnings data on Tuesday, August 27th. The specialty retailer reported $0.96 earnings per share for the quarter, topping the consensus estimate of $0.71 by $0.25. Nordstrom had a negative return on equity of 26.45% and a negative net margin of 1.35%. The company had revenue of $3.89 billion during the quarter, compared to analyst estimates of $3.88 billion. During the same quarter last year, the firm posted $0.84 EPS. The firm’s revenue for the quarter was up 3.2% on a year-over-year basis. As a group, research analysts forecast that Nordstrom will post 1.79 EPS for the current year.

Nordstrom Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 18th. Stockholders of record on Tuesday, September 3rd will be given a dividend of $0.19 per share. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $0.76 dividend on an annualized basis and a dividend yield of 3.45%. Nordstrom’s dividend payout ratio (DPR) is presently 41.53%.

Hedge Funds Weigh In On Nordstrom

Large investors have recently modified their holdings of the company. Norges Bank purchased a new position in shares of Nordstrom during the 4th quarter valued at about $23,572,000. Capstone Investment Advisors LLC raised its holdings in shares of Nordstrom by 185.0% during the 1st quarter. Capstone Investment Advisors LLC now owns 211,471 shares of the specialty retailer’s stock valued at $4,287,000 after buying an additional 137,271 shares in the last quarter. Boulder Hill Capital Management LP purchased a new position in shares of Nordstrom during the 4th quarter valued at about $2,065,000. Jump Financial LLC raised its holdings in shares of Nordstrom by 83.9% during the 4th quarter. Jump Financial LLC now owns 150,200 shares of the specialty retailer’s stock valued at $2,771,000 after buying an additional 68,529 shares in the last quarter. Finally, Nomura Holdings Inc. raised its holdings in shares of Nordstrom by 152.2% during the 4th quarter. Nomura Holdings Inc. now owns 169,604 shares of the specialty retailer’s stock valued at $3,129,000 after buying an additional 102,361 shares in the last quarter. 88.73% of the stock is owned by hedge funds and other 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.