Nordstrom (JWN) Upgraded to Neutral at JPMorgan Chase & Co.

JPMorgan Chase & Co. upgraded shares of Nordstrom (NYSE:JWN) from an underweight rating to a neutral rating in a report released on Tuesday. They currently have $48.00 price target on the specialty retailer’s stock, up from their prior price target of $33.00.

JWN has been the topic of several other reports. UBS Group dropped their price objective on shares of Nordstrom from $46.00 to $43.00 and set a neutral rating on the stock in a research note on Friday, November 10th. Robert W. Baird reissued a hold rating and issued a $50.00 price objective on shares of Nordstrom in a research note on Wednesday, November 1st. Piper Jaffray Companies reissued a hold rating on shares of Nordstrom in a research note on Thursday, October 19th. William Blair reissued an outperform rating on shares of Nordstrom in a research note on Tuesday, September 12th. Finally, Zacks Investment Research raised shares of Nordstrom from a sell rating to a hold rating in a research note on Wednesday, December 27th. Three research analysts have rated the stock with a sell rating, eighteen have given a hold rating and seven have assigned a buy rating to the company. The company currently has a consensus rating of Hold and an average price target of $46.24.

Shares of Nordstrom (JWN) traded up $1.74 on Tuesday, reaching $49.12. 3,562,300 shares of the company’s stock traded hands, compared to its average volume of 2,356,000. The company has a quick ratio of 0.30, a current ratio of 1.00 and a debt-to-equity ratio of 3.14. The firm has a market cap of $8,100.00, a PE ratio of 17.24, a P/E/G ratio of 2.68 and a beta of 0.89. Nordstrom has a 12 month low of $37.79 and a 12 month high of $50.32.

Nordstrom (NYSE:JWN) last announced its quarterly earnings data on Thursday, November 9th. The specialty retailer reported $0.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.04. The company had revenue of $3.54 billion for the quarter, compared to analysts’ expectations of $3.50 billion. Nordstrom had a net margin of 3.25% and a return on equity of 67.44%. Nordstrom’s revenue was up 2.0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.84 EPS. sell-side analysts anticipate that Nordstrom will post 2.95 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 12th. Stockholders of record on Monday, November 27th were paid a dividend of $0.37 per share. The ex-dividend date of this dividend was Friday, November 24th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 3.01%. Nordstrom’s dividend payout ratio (DPR) is presently 51.93%.

Institutional investors have recently added to or reduced their stakes in the stock. San Francisco Sentry Investment Group CA boosted its position in shares of Nordstrom by 1,752.0% in the 3rd quarter. San Francisco Sentry Investment Group CA now owns 2,315 shares of the specialty retailer’s stock worth $109,000 after buying an additional 2,190 shares in the last quarter. Sei Investments Co. boosted its position in shares of Nordstrom by 32.0% in the 2nd quarter. Sei Investments Co. now owns 3,177 shares of the specialty retailer’s stock worth $152,000 after buying an additional 771 shares in the last quarter. Advisory Services Network LLC boosted its position in shares of Nordstrom by 41.8% in the 2nd quarter. Advisory Services Network LLC now owns 3,452 shares of the specialty retailer’s stock worth $165,000 after buying an additional 1,018 shares in the last quarter. Thrivent Financial For Lutherans purchased a new stake in shares of Nordstrom in the 2nd quarter worth about $202,000. Finally, Nordea Investment Management AB boosted its position in shares of Nordstrom by 7.2% in the 2nd quarter. Nordea Investment Management AB now owns 4,264 shares of the specialty retailer’s stock worth $204,000 after buying an additional 287 shares in the last quarter. Institutional investors and hedge funds own 57.58% of the company’s stock.

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Nordstrom Company Profile

Nordstrom, Inc is a fashion specialty retailer in the United States. The Company’s segments include Retail and Credit. As of March 20, 2017, the Company operated 344 the United States stores located in 40 states as well as an e-commerce business. The Company also offers its customers a variety of payment products and services, including credit and debit cards.

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