Nordstrom (NYSE:JWN) Given New $25.00 Price Target at TD Cowen

Nordstrom (NYSE:JWN) had its price objective lifted by TD Cowen from $24.00 to $25.00 in a research report released on Wednesday, Benzinga reports. The brokerage currently has a hold rating on the specialty retailer’s stock.

A number of other analysts have also recently weighed in on JWN. JPMorgan Chase & Co. upped their target price on shares of Nordstrom from $15.00 to $17.00 and gave the company an underweight rating in a research note on Friday, May 17th. Barclays upped their target price on shares of Nordstrom from $15.00 to $18.00 and gave the company an underweight rating in a research note on Friday, May 31st. The Goldman Sachs Group upped their target price on shares of Nordstrom from $19.00 to $21.00 and gave the company a neutral rating in a research note on Wednesday. BMO Capital Markets upped their target price on shares of Nordstrom from $20.00 to $22.00 and gave the company a market perform rating in a research note on Wednesday. Finally, StockNews.com raised shares of Nordstrom from a hold rating to a buy rating in a research note on Thursday, August 8th. Four 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’s stock. According to MarketBeat, the stock currently has a consensus rating of Hold and a consensus target price of $19.85.

Nordstrom Stock Up 4.1 %

Shares of JWN opened at $22.01 on Wednesday. The company has a 50-day simple moving average of $21.92 and a 200-day simple moving average of $20.67. The firm has a market capitalization of $3.60 billion, a P/E ratio of 12.03, a P/E/G 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 has a 52 week low of $12.88 and a 52 week high of $24.03.

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

Nordstrom Announces Dividend

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

Hedge Funds Weigh In On Nordstrom

Several large investors have recently bought and sold shares of JWN. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Nordstrom by 25.3% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 24,257 shares of the specialty retailer’s stock valued at $448,000 after buying an additional 4,893 shares during the period. Truist Financial Corp lifted its holdings in Nordstrom by 14.8% in the fourth quarter. Truist Financial Corp now owns 55,614 shares of the specialty retailer’s stock valued at $1,026,000 after buying an additional 7,161 shares during the period. Hexagon Capital Partners LLC lifted its holdings in Nordstrom by 77.6% in the fourth quarter. Hexagon Capital Partners LLC now owns 1,989 shares of the specialty retailer’s stock valued at $37,000 after buying an additional 869 shares during the period. Victory Capital Management Inc. raised its holdings in Nordstrom by 42.2% in the fourth quarter. Victory Capital Management Inc. now owns 3,288,612 shares of the specialty retailer’s stock worth $60,675,000 after purchasing an additional 975,918 shares during the period. Finally, Los Angeles Capital Management LLC acquired a new stake in Nordstrom in the fourth quarter worth $1,211,000. 88.73% of the stock is currently owned by institutional investors and hedge funds.

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.