Nordstrom (NYSE:JWN) Trading Down 4.5%

Nordstrom, Inc. (NYSE:JWN - Get Free Report)'s share price was down 4.5% during trading on Monday . The company traded as low as $18.14 and last traded at $18.20. Approximately 1,593,504 shares changed hands during trading, a decline of 64% from the average daily volume of 4,463,692 shares. The stock had previously closed at $19.06.

Analyst Ratings Changes

Several research analysts have issued reports on JWN shares. Citigroup dropped their target price on Nordstrom from $21.00 to $20.00 and set a "neutral" rating on the stock in a research report on Wednesday, March 6th. Barclays increased their price target on shares of Nordstrom from $14.00 to $15.00 and gave the stock an "underweight" rating in a research report on Wednesday, March 6th. The Goldman Sachs Group upped their price objective on Nordstrom from $16.00 to $18.00 and gave the stock a "neutral" rating in a research note on Wednesday, March 6th. StockNews.com upgraded Nordstrom from a "hold" rating to a "buy" rating in a research report on Thursday, March 14th. Finally, Jefferies Financial Group reaffirmed a "hold" rating and issued a $17.00 price objective (down previously from $18.00) on shares of Nordstrom in a research note on Thursday, March 7th. Five investment analysts have rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, Nordstrom has an average rating of "Hold" and an average target price of $16.54.

Nordstrom Stock Down 6.8 %

The business's 50 day simple moving average is $19.29 and its 200 day simple moving average is $17.27. The company has a current ratio of 1.02, a quick ratio of 0.41 and a debt-to-equity ratio of 3.08. The firm has a market capitalization of $2.90 billion, a PE ratio of 22.21, a PEG ratio of 2.16 and a beta of 2.59.

Nordstrom (NYSE:JWN - Get Free Report) last posted its quarterly earnings data on Tuesday, March 5th. The specialty retailer reported $0.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.90 by $0.06. Nordstrom had a return on equity of 49.30% and a net margin of 0.91%. The business had revenue of $4.29 billion during the quarter, compared to analyst estimates of $4.38 billion. During the same period last year, the company earned $0.74 EPS. The company's revenue for the quarter was up 2.2% on a year-over-year basis. On average, equities research analysts forecast that Nordstrom, Inc. will post 1.81 earnings per share for the current year.

Nordstrom Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 27th. Investors of record on Tuesday, March 12th were paid a dividend of $0.19 per share. The ex-dividend date was Monday, March 11th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 4.28%. Nordstrom's dividend payout ratio is presently 95.00%.

Institutional Investors Weigh In On Nordstrom

Hedge funds and other institutional investors have recently modified their holdings of the business. JPMorgan Chase & Co. lifted its position in shares of Nordstrom by 6.7% during the first quarter. JPMorgan Chase & Co. now owns 203,428 shares of the specialty retailer's stock worth $5,515,000 after purchasing an additional 12,787 shares during the last quarter. Raymond James & Associates lifted its holdings in Nordstrom by 13.4% during the 1st quarter. Raymond James & Associates now owns 106,379 shares of the specialty retailer's stock valued at $2,884,000 after buying an additional 12,582 shares in the last quarter. Raymond James Financial Services Advisors Inc. grew its stake in Nordstrom by 8.4% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 11,622 shares of the specialty retailer's stock worth $315,000 after acquiring an additional 903 shares in the last quarter. American Century Companies Inc. increased its position in shares of Nordstrom by 27.1% during the first quarter. American Century Companies Inc. now owns 19,066 shares of the specialty retailer's stock worth $517,000 after acquiring an additional 4,063 shares during the period. Finally, HighTower Advisors LLC increased 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 period. 88.73% of the stock is currently owned by hedge funds and other institutional investors.

Nordstrom Company Profile

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.