Nordstrom (NYSE:JWN) Shares Gap Up to $15.77

Posted by Defense World Staff on May 26th, 2023

Nordstrom logo Nordstrom, Inc. (NYSE:JWN – Get Rating) shares gapped up prior to trading on Wednesday . The stock had previously closed at $15.77, but opened at $16.50. Nordstrom shares last traded at $15.81, with a volume of 900,671 shares trading hands.

Wall Street Analyst Weigh In

A number of analysts recently commented on JWN shares. Gordon Haskett upgraded shares of Nordstrom from a “reduce” rating to a “hold” rating and set a $22.00 price target on the stock in a research note on Friday, February 3rd. Credit Suisse Group restated a “neutral” rating and set a $17.00 price target on shares of Nordstrom in a research note on Friday, March 3rd. Argus raised shares of Nordstrom from a “hold” rating to a “buy” rating and set a $23.00 target price on the stock in a report on Wednesday, March 8th. Barclays decreased their target price on shares of Nordstrom from $16.00 to $14.00 in a report on Tuesday, May 2nd. Finally, StockNews.com began coverage on shares of Nordstrom in a report on Thursday, May 18th. They set a “hold” rating on the stock. Four analysts have rated the stock with a sell rating, ten have given a hold rating and three have assigned a buy rating to the company. According to MarketBeat, Nordstrom presently has an average rating of “Hold” and an average price target of $18.75.

Nordstrom Stock Performance

The company has a current ratio of 1.07, a quick ratio of 0.42 and a debt-to-equity ratio of 3.86. The company’s fifty day moving average is $15.76 and its 200 day moving average is $17.97. The company has a market cap of $2.49 billion, a P/E ratio of 10.20, a price-to-earnings-growth ratio of 1.45 and a beta of 2.21.

Nordstrom (NYSE:JWN – Get Rating) last released its earnings results on Thursday, March 2nd. The specialty retailer reported $0.74 EPS for the quarter, beating the consensus estimate of $0.65 by $0.09. Nordstrom had a net margin of 1.58% and a return on equity of 42.08%. The company had revenue of $4.20 billion for the quarter, compared to analyst estimates of $4.33 billion. During the same quarter last year, the firm earned $1.23 EPS. The firm’s quarterly revenue was down 4.2% compared to the same quarter last year. As a group, equities analysts predict that Nordstrom, Inc. will post 1.93 earnings per share for the current fiscal year.

Nordstrom Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 14th. Shareholders of record on Tuesday, May 30th will be given a dividend of $0.19 per share. The ex-dividend date is Friday, May 26th. This represents a $0.76 annualized dividend and a yield of 4.94%. Nordstrom’s payout ratio is currently 50.33%.

Institutional Investors Weigh In On Nordstrom

Several institutional investors have recently added to or reduced their stakes in the company. MML Investors Services LLC lifted its position in shares of Nordstrom by 7.0% in the 3rd quarter. MML Investors Services LLC now owns 11,224 shares of the specialty retailer’s stock worth $188,000 after purchasing an additional 738 shares during the period. Crossmark Global Holdings Inc. lifted its position in shares of Nordstrom by 37.7% in the 4th quarter. Crossmark Global Holdings Inc. now owns 183,687 shares of the specialty retailer’s stock worth $2,965,000 after purchasing an additional 50,335 shares during the period. Aigen Investment Management LP purchased a new stake in shares of Nordstrom in the 4th quarter worth about $776,000. New York State Teachers Retirement System lifted its position in shares of Nordstrom by 1.1% in the 4th quarter. New York State Teachers Retirement System now owns 151,514 shares of the specialty retailer’s stock worth $2,445,000 after purchasing an additional 1,626 shares during the period. Finally, Swiss National Bank lifted its position in shares of Nordstrom by 2.1% in the 4th quarter. Swiss National Bank now owns 270,100 shares of the specialty retailer’s stock worth $4,359,000 after purchasing an additional 5,500 shares during the period. Hedge funds and other institutional investors own 66.41% of the company’s stock.

Nordstrom Company Profile

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Nordstrom, Inc engages in the manufacture and trade of clothes, shoes, and accessories. It operates through the following segments: Retail and Corporate/Other. The Retail segment consists of a selection of high-quality, brand-name, and private label merchandise, which includes apparel, shoes, cosmetics, and accessories for women, men, young adults, and children.