Fintel reports that on May 17, 2023, Goldman Sachs maintained coverage of Nordstrom (NYSE:JWN) with a Neutral recommendation.
Analyst Price Forecast Suggests 30.64% Upside
As of May 11, 2023, the average one-year price target for Nordstrom is 18.94. The forecasts range from a low of 12.12 to a high of $24.15. The average price target represents an increase of 30.64% from its latest reported closing price of 14.50.
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The projected annual revenue for Nordstrom is 15,989MM, an increase of 2.96%. The projected annual non-GAAP EPS is 2.50.
Nordstrom Declares $0.19 Dividend
On February 28, 2023 the company declared a regular quarterly dividend of $0.19 per share ($0.76 annualized). Shareholders of record as of March 14, 2023 received the payment on March 29, 2023. Previously, the company paid $0.19 per share.
At the current share price of $14.50 / share, the stock’s dividend yield is 5.24%.
Looking back five years and taking a sample every week, the average dividend yield has been 3.68%, the lowest has been 2.20%, and the highest has been 8.61%. The standard deviation of yields is 0.89 (n=141).
The current dividend yield is 1.75 standard deviations above the historical average.
Additionally, the company’s dividend payout ratio is 0.50. The payout ratio tells us how much of a company’s income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company’s income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend – not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
What is the Fund Sentiment?
There are 718 funds or institutions reporting positions in Nordstrom. This is a decrease of 12 owner(s) or 1.64% in the last quarter. Average portfolio weight of all funds dedicated to JWN is 0.17%, an increase of 94.56%. Total shares owned by institutions decreased in the last three months by 2.63% to 106,053K shares. The put/call ratio of JWN is 1.10, indicating a bearish outlook.
What are Other Shareholders Doing?
El Puerto de Liverpool, S.A.B. de C.V. holds 15,755K shares representing 9.76% ownership of the company. No change in the last quarter.
IJH – iShares Core S&P Mid-Cap ETF holds 3,440K shares representing 2.13% ownership of the company. In it’s prior filing, the firm reported owning 3,276K shares, representing an increase of 4.76%. The firm decreased its portfolio allocation in JWN by 11.59% over the last quarter.
Cooper Creek Partners Management holds 3,152K shares representing 1.95% ownership of the company. In it’s prior filing, the firm reported owning 0K shares, representing an increase of 100.00%.
VTSMX – Vanguard Total Stock Market Index Fund Investor Shares holds 2,914K shares representing 1.81% ownership of the company. In it’s prior filing, the firm reported owning 3,303K shares, representing a decrease of 13.36%. The firm decreased its portfolio allocation in JWN by 21.41% over the last quarter.
NAESX – Vanguard Small-Cap Index Fund Investor Shares holds 2,468K shares representing 1.53% ownership of the company. In it’s prior filing, the firm reported owning 2,838K shares, representing a decrease of 14.99%. The firm decreased its portfolio allocation in JWN by 22.33% over the last quarter.
Nordstrom Background Information
(This description is provided by the company.)
Nordstrom, Inc. is a leading fashion retailer based in the U.S. Founded in 1901 as a shoe store in Seattle, today Nordstrom operates 358 stores in the U.S. and Canada, including 100 Nordstrom stores; 249 Nordstrom Rack stores; two clearance stores; and seven Nordstrom Local service hubs. Additionally, customers are served online through Nordstrom.com, Nordstrom.ca, Nordstromrack.com, HauteLook.com and TrunkClub.com.
Key filings for this company:
This article originally appeared on Fintel
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