Nordstrom (JWN) Declares $0.19 Dividend
Nordstrom said on February 28, 2023 that its board of directors declared a regular quarterly dividend of $0.19 per share ($0.76 annualized). Shareholders of record as of March 14, 2023 will receive the payment on March 29, 2023. Previously, the company paid $0.19 per share.
At the current share price of $19.48 / share, the stock's dividend yield is 3.90%. Looking back five years and taking a sample every week, the average dividend yield has been 3.55%, the lowest has been 2.20%, and the highest has been 8.61%. The standard deviation of yields is 0.85 (n=141).
The current dividend yield is 0.41 standard deviations above the historical average.
Additionally, the company's dividend payout ratio is 0.37. 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.
The company's 3-Year dividend growth rate is -0.49%.
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Analyst Price Forecast Suggests 3.90% Downside
As of March 1, 2023, the average one-year price target for Nordstrom is $18.72. The forecasts range from a low of $12.12 to a high of $23.10. The average price target represents a decrease of 3.90% from its latest reported closing price of $19.48.
The projected annual revenue for Nordstrom is $15,798MM, an increase of 0.64%. The projected annual EPS is $2.39, an increase of 17.09%.
What is the Fund Sentiment?
There are 731 funds or institutions reporting positions in Nordstrom. This is an increase of 12 owner(s) or 1.67% in the last quarter. Average portfolio weight of all funds dedicated to JWN is 0.09%, a decrease of 10.71%. Total shares owned by institutions increased in the last three months by 10.25% to 109,302K shares. The put/call ratio of JWN is 2.41, indicating a bearish outlook.
What are large shareholders doing?
El Puerto de Liverpool, S.A.B. de C.V. holds 15,755K shares representing 9.84% ownership of the company.
Arrowstreet Capital, Limited Partnership holds 4,933K shares representing 3.08% ownership of the company. In it's prior filing, the firm reported owning 2,251K shares, representing an increase of 54.37%. The firm increased its portfolio allocation in JWN by 100.61% over the last quarter.
IJH - iShares Core S&P Mid-Cap ETF holds 3,440K shares representing 2.15% 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.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 2,914K shares representing 1.82% 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 1.54% 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.
This story originally appeared on Fintel.