Tufton Capital Management raised its stake in shares of Nordstrom Inc. (NYSE:JWN) by 63.0% during the second quarter, Holdings Channel reports. The firm owned 112,748 shares of the company’s stock after buying an additional 43,580 shares during the period. Tufton Capital Management’s holdings in Nordstrom were worth $4,290,000 as of its most recent filing with the SEC.
A number of other large investors have also added to or reduced their stakes in the stock. Grimes & Company Inc. increased its stake in Nordstrom by 2.7% in the second quarter. Grimes & Company Inc. now owns 108,512 shares of the company’s stock valued at $4,129,000 after buying an additional 2,825 shares during the period. Douglas Lane & Associates LLC increased its stake in Nordstrom by 9.2% in the second quarter. Douglas Lane & Associates LLC now owns 534,836 shares of the company’s stock valued at $20,351,000 after buying an additional 45,208 shares during the period. Cornerstone Advisors Inc. increased its stake in Nordstrom by 416,666.7% in the second quarter. Cornerstone Advisors Inc. now owns 150,036 shares of the company’s stock valued at $5,709,000 after buying an additional 150,000 shares during the period. Bank of Montreal Can acquired a new stake in Nordstrom during the second quarter valued at approximately $111,916,000. Finally, Robeco Institutional Asset Management B.V. increased its stake in Nordstrom by 90.2% in the second quarter. Robeco Institutional Asset Management B.V. now owns 172,659 shares of the company’s stock valued at $6,570,000 after buying an additional 81,864 shares during the period. 65.48% of the stock is currently owned by institutional investors and hedge funds.
Shares of Nordstrom Inc. (NYSE:JWN) traded up 2.63% on Wednesday, reaching $51.07. 2,245,939 shares of the company’s stock were exchanged. The firm has a market cap of $8.86 billion, a PE ratio of 21.76 and a beta of 0.93. The company has a 50 day moving average price of $49.78 and a 200 day moving average price of $46.83. Nordstrom Inc. has a one year low of $35.01 and a one year high of $75.67.
Nordstrom (NYSE:JWN) last announced its quarterly earnings data on Thursday, August 11th. The company reported $0.67 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.56 by $0.11. The company earned $3.65 billion during the quarter, compared to the consensus estimate of $3.67 billion. Nordstrom had a return on equity of 47.22% and a net margin of 2.95%. The firm’s revenue was down .2% on a year-over-year basis. During the same period in the previous year, the company posted $0.93 EPS. Analysts expect that Nordstrom Inc. will post $2.73 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 13th. Investors of record on Monday, August 29th were paid a dividend of $0.37 per share. The ex-dividend date of this dividend was Thursday, August 25th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 2.90%. Nordstrom’s dividend payout ratio (DPR) is presently 62.98%.
Several research firms have commented on JWN. Stifel Nicolaus reaffirmed a “buy” rating and set a $58.00 price objective on shares of Nordstrom in a report on Tuesday, September 13th. Vetr downgraded shares of Nordstrom from a “sell” rating to a “strong sell” rating and set a $46.00 price objective on the stock. in a 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 report on Monday, August 29th. 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 report on Monday, August 15th. Finally, Morgan Stanley reaffirmed an “underweight” rating and set a $36.00 price objective (up from $34.00) on shares of Nordstrom in a report on Monday, August 15th. Seven investment analysts have rated the stock with a sell rating, eighteen have given a hold rating and eight have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $47.13.
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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