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Goldman Sachs Maintains Nordstrom (JWN) Neutral Recommendation
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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.
See our leaderboard of companies with the largest price target upside.
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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