Dynamic Technology Lab Private Ltd bought a new stake in Nordstrom Inc. (NYSE:JWN) during the second quarter, Holdings Channel reports. The institutional investor bought 7,679 shares of the company’s stock, valued at approximately $292,000.
A number of other hedge funds also recently made changes to their positions in the company. Capstone Asset Management Co. boosted its position in Nordstrom by 19.5% in the first quarter. Capstone Asset Management Co. now owns 29,653 shares of the company’s stock valued at $1,696,000 after buying an additional 4,830 shares in the last quarter. Nisa Investment Advisors L.L.C. boosted its position in Nordstrom by 2.5% in the first quarter. Nisa Investment Advisors L.L.C. now owns 45,668 shares of the company’s stock valued at $2,613,000 after buying an additional 1,100 shares in the last quarter. Ngam Advisors L.P. purchased a new position in Nordstrom during the first quarter valued at $1,251,000. TIAA CREF Investment Management LLC boosted its position in Nordstrom by 22.7% in the first quarter. TIAA CREF Investment Management LLC now owns 696,390 shares of the company’s stock valued at $39,840,000 after buying an additional 128,940 shares in the last quarter. Finally, Teachers Advisors Inc. boosted its position in Nordstrom by 2.0% in the first quarter. Teachers Advisors Inc. now owns 155,610 shares of the company’s stock valued at $8,902,000 after buying an additional 3,034 shares in the last quarter. Hedge funds and other institutional investors own 65.48% of the company’s stock.
Nordstrom Inc. (NYSE:JWN) traded up 0.68% during trading on Friday, hitting $51.83. The company’s stock had a trading volume of 193,456 shares. Nordstrom Inc. has a 12 month low of $35.01 and a 12 month high of $75.67. The firm has a 50 day moving average of $51.17 and a 200 day moving average of $46.70. The firm has a market cap of $8.99 billion, a P/E ratio of 22.08 and a beta of 0.93.
Nordstrom (NYSE:JWN) last released its quarterly earnings results on Thursday, August 11th. The company reported $0.67 earnings per share for the quarter, beating the consensus estimate of $0.56 by $0.11. Nordstrom had a return on equity of 47.22% and a net margin of 2.95%. The firm had revenue of $3.65 billion for the quarter, compared to analysts’ expectations of $3.67 billion. During the same quarter last year, the firm posted $0.93 EPS. The company’s revenue was down .2% compared to the same quarter last year. Equities research analysts predict that Nordstrom Inc. will post $2.73 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 13th. Shareholders of record on Monday, August 29th were issued a $0.37 dividend. The ex-dividend date was Thursday, August 25th. This represents a $1.48 annualized dividend and a dividend yield of 2.87%. Nordstrom’s payout ratio is currently 62.98%.
Several equities analysts recently weighed in on the stock. Guggenheim assumed coverage on shares of Nordstrom in a research note on Friday. They issued a “buy” rating for the company. Stifel Nicolaus set a $58.00 price objective on shares of Nordstrom and gave the stock a “buy” rating in a research report on Thursday, September 22nd. Vetr cut shares of Nordstrom from a “sell” rating to a “strong sell” rating and set a $46.00 price objective for the company. in a research report on Tuesday, September 6th. Cowen and Company reaffirmed an “outperform” rating and set a $55.00 price objective on shares of Nordstrom in a research report on Monday, August 29th. Finally, RBC Capital Markets reaffirmed a “sector perform” rating and set a $47.00 price objective (up from $38.00) on shares of Nordstrom in a research report on Monday, August 15th. Seven equities research analysts have rated the stock with a sell rating, eighteen have given a hold rating and eight have given a buy rating to the company. Nordstrom currently has an average rating of “Hold” and a consensus price target of $47.13.
In other Nordstrom news, insider Daniel F. Little sold 5,270 shares of the firm’s stock in a transaction dated Friday, September 23rd. The stock was sold at an average price of $52.00, for a total value of $274,040.00. Following the sale, the insider now owns 68,088 shares of the company’s stock, valued at approximately $3,540,576. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 7.03% of the stock is owned by company insiders.
Nordstrom Company Profile
Nordstrom, Inc is a fashion specialty retailer in the United States. The company operates through two segments: Retail and Credit. The Retail segment includes approximately 115 Nordstrom branded full-line stores in the United States and Nordstrom.com, approximately 167 off-price Nordstrom Rack stores, two Canada full-line stores, Nordstromrack.com and HauteLook, and other retail channels, including five Trunk Club showrooms and TrunkClub.com, its two Jeffrey boutiques and one clearance store that operates under the name Last Chance.
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