Nordstrom, Inc. (NYSE:JWN) Declares Quarterly Dividend of $0.19

Nordstrom, Inc. (NYSE:JWNGet Free Report) announced a quarterly dividend on Wednesday, February 28th, RTT News reports. Shareholders of record on Tuesday, March 12th will be paid a dividend of 0.19 per share by the specialty retailer on Wednesday, March 27th. This represents a $0.76 dividend on an annualized basis and a yield of 4.45%. The ex-dividend date of this dividend is Monday, March 11th.

Nordstrom has raised its dividend by an average of 27.1% per year over the last three years. Nordstrom has a dividend payout ratio of 38.0% indicating that its dividend is sufficiently covered by earnings. Analysts expect Nordstrom to earn $1.91 per share next year, which means the company should continue to be able to cover its $0.76 annual dividend with an expected future payout ratio of 39.8%.

Nordstrom Price Performance

Shares of NYSE:JWN opened at $17.06 on Friday. The firm has a 50 day moving average of $19.01 and a 200-day moving average of $16.58. Nordstrom has a 12 month low of $12.88 and a 12 month high of $23.53. The company has a current ratio of 1.02, a quick ratio of 0.29 and a debt-to-equity ratio of 3.08. The stock has a market capitalization of $2.77 billion, a PE ratio of 21.33, a PEG ratio of 1.84 and a beta of 2.59.

Nordstrom (NYSE:JWNGet Free Report) last announced its quarterly earnings data on Tuesday, March 5th. The specialty retailer reported $0.96 EPS for the quarter, beating the consensus estimate of $0.90 by $0.06. Nordstrom had a net margin of 0.91% and a return on equity of 49.30%. The business had revenue of $4.29 billion during the quarter, compared to the consensus estimate of $4.38 billion. During the same period in the previous year, the business earned $0.74 earnings per share. The company’s revenue was up 2.2% on a year-over-year basis. On average, equities research analysts predict that Nordstrom will post 1.87 EPS for the current fiscal year.

Institutional Trading of Nordstrom

Several institutional investors have recently modified their holdings of JWN. Lazard Asset Management LLC acquired a new position in Nordstrom during the 2nd quarter worth about $29,000. Advisory Services Network LLC raised its position in shares of Nordstrom by 315.9% during the first quarter. Advisory Services Network LLC now owns 2,487 shares of the specialty retailer’s stock worth $40,000 after acquiring an additional 1,889 shares during the last quarter. Captrust Financial Advisors lifted its stake in shares of Nordstrom by 44.9% in the second quarter. Captrust Financial Advisors now owns 2,738 shares of the specialty retailer’s stock worth $58,000 after acquiring an additional 849 shares during the period. Dark Forest Capital Management LP increased its position in Nordstrom by 194.2% during the 1st quarter. Dark Forest Capital Management LP now owns 3,195 shares of the specialty retailer’s stock valued at $52,000 after purchasing an additional 2,109 shares during the period. Finally, Bridgefront Capital LLC acquired a new stake in Nordstrom during the 1st quarter valued at approximately $222,000. Institutional investors own 62.56% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on JWN. StockNews.com raised Nordstrom from a “hold” rating to a “buy” rating in a research note on Tuesday, March 5th. JPMorgan Chase & Co. raised their price target on shares of Nordstrom from $14.00 to $15.00 and gave the company an “underweight” rating in a research note on Wednesday. Bank of America lifted their price target on shares of Nordstrom from $13.00 to $15.00 and gave the company an “underperform” rating in a report on Wednesday. Telsey Advisory Group increased their price objective on shares of Nordstrom from $17.00 to $19.00 and gave the company a “market perform” rating in a research note on Wednesday. Finally, Citigroup decreased their target price on shares of Nordstrom from $21.00 to $20.00 and set a “neutral” rating on the stock in a research note on Wednesday. Five research analysts have rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $16.54.

Read Our Latest Stock Report on JWN

About Nordstrom

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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; and clearance stores under the Last Chance name.

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Dividend History for Nordstrom (NYSE:JWN)

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