Nordstrom Shares Rise 4.5% - Here's What You Need to Know

On Thursday, the stock price of Nordstrom, Inc. (NYSE:JWN) increased by 4.5%, trading as high as $24.08 before closing at $23.93. During the trading session, 475,349 shares changed hands, marking a significant drop of 84% compared to the average volume of 3,003,008 shares. The previous closing price was $22.89.

Analysts Provide Insights

Analysts are keeping a close eye on JWN shares. Recently, Bank of America raised its target price for Nordstrom from $20.00 to $22.00, rating it as "underperform" in a research note dated November 27th. KeyCorp downgraded its rating from "overweight" to "sector weight" on September 26th. Barclays upgraded Nordstrom from "underweight" to "equal weight," increasing the price target from $18.00 to $23.00 as of September 5th. StockNews.com changed its rating from "strong-buy" to "buy" on December 5th. Additionally, Goldman Sachs elevated its price target from $19.00 to $21.00 with a "neutral" rating as of August 28th. Presently, three analysts have issued sell ratings for the stock, while ten suggest holding it, and one recommends buying it. According to MarketBeat.com, the stock has an average rating of "Hold" with a target price of $21.29.

Stock Performance Numbers

Currently, Nordstrom has a market capitalization of $3.97 billion, a price-to-earnings (P/E) ratio of 15.33, and a beta of 2.56. Its fifty-day moving average is at $23.10, while the two-hundred-day moving average is $22.40. Financial metrics reveal a debt-to-equity ratio of 2.65, a current ratio of 1.14, and a quick ratio of 0.35.

Latest Earnings Report

Nordstrom reported its quarterly earnings results on November 26th, revealing earnings per share (EPS) of $0.33, exceeding analyst expectations of $0.22 by $0.11. The company reported a revenue of $3.35 billion, slightly above the anticipated $3.34 billion. Year-over-year, Nordstrom's revenue showed a growth of 4.6%. In comparison to last year during the same quarter, the company had posted $0.25 EPS. Analysts forecast Nordstrom will achieve 1.94 EPS for the current fiscal year.

Dividend Announcement

Recently, Nordstrom declared a quarterly dividend of $0.19, which was paid on December 18th to shareholders who were on record as of December 3rd. The ex-dividend date also fell on December 3rd. With this dividend, Nordstrom offers an annualized dividend of $0.76, leading to a dividend yield of 3.16%. The company's dividend payout ratio stands at 48.41%.

Insider Transactions

In company news, COO Alexis Depree sold 20,000 shares on September 24th at an average price of $23.20, resulting in total proceeds of approximately $464,000. Following this sale, the COO now retains 169,331 shares valued at about $3.93 million, signifying a decrease of 10.56% in ownership following the transaction. This insider trade was reported to the SEC, and institutional investors currently hold about 5.78% of the shares.

Institutional Ownership Trends

Recent changes in institutional holdings indicate notable investments in Nordstrom. Blue Trust Inc. significantly increased its stake by 10,045.8% in the second quarter, acquiring a total of 2,435 shares valued at $49,000. Raymond James & Associates raised its ownership by 2.0%, amassing 91,157 shares worth approximately $1.93 million. Other firms, like Ceredex Value Advisors LLC, bought shares worth $7.31 million, while Zurcher Kantonalbank increased its holding by 11.5% to 21,790 shares valued at $462,000. Overall, institutional investors control about 88.73% of Nordstrom’s stock.

What is Nordstrom?

Nordstrom, Inc. is a prominent fashion retailer providing a wide range of products, including apparel, shoes, beauty items, accessories, and home goods for customers of all ages. The company operates through various channels, including its branded stores and online platforms like Nordstrom.com and Nordstrom Rack.

Nordstrom, Stocks, Market