Headinvest LLC raised its stake in shares of Nordstrom Inc. (NYSE:JWN) by 1.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,070 shares of the company’s stock after buying an additional 100 shares during the period. Headinvest LLC’s holdings in Nordstrom were worth $269,000 at the end of the most recent quarter.
Other institutional investors have also added to or reduced their stakes in the company. Norges Bank purchased a new stake in shares of Nordstrom during the fourth quarter worth about $83,978,000. Fjarde AP Fonden Fourth Swedish National Pension Fund raised its stake in shares of Nordstrom by 14.0% in the first quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 32,818 shares of the company’s stock worth $1,878,000 after buying an additional 4,033 shares during the period. Capstone Asset Management Co. raised its stake in shares of Nordstrom by 19.5% in the first quarter. Capstone Asset Management Co. now owns 29,653 shares of the company’s stock worth $1,696,000 after buying an additional 4,830 shares during the period. Exxonmobil Investment Management Inc. TX raised its stake in shares of Nordstrom by 2.5% in the first quarter. Exxonmobil Investment Management Inc. TX now owns 31,260 shares of the company’s stock worth $1,788,000 after buying an additional 763 shares during the period. Finally, Sumitomo Life Insurance Co. raised its stake in shares of Nordstrom by 8.8% in the first quarter. Sumitomo Life Insurance Co. now owns 28,572 shares of the company’s stock worth $1,635,000 after buying an additional 2,308 shares during the period. 65.48% of the stock is currently owned by institutional investors.
Nordstrom Inc. (NYSE:JWN) traded down 1.14% during trading on Thursday, hitting $50.49. 3,744,267 shares of the company’s stock were exchanged. The company’s 50-day moving average price is $50.03 and its 200 day moving average price is $46.86. The firm has a market cap of $8.76 billion, a price-to-earnings ratio of 21.51 and a beta of 0.93. Nordstrom Inc. has a 12-month low of $35.01 and a 12-month high of $75.67.
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 analysts’ consensus estimates of $0.56 by $0.11. Nordstrom had a net margin of 2.95% and a return on equity of 47.22%. The business had revenue of $3.65 billion for the quarter, compared to analysts’ expectations of $3.67 billion. During the same period last year, the business earned $0.93 EPS. The company’s revenue was down .2% compared to the same quarter last year. Equities analysts forecast that Nordstrom Inc. will post $2.73 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, September 13th. Stockholders of record on Monday, August 29th were issued a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 2.93%. The ex-dividend date of this dividend was Thursday, August 25th. Nordstrom’s dividend payout ratio is currently 62.98%.
JWN has been the topic of a number of recent analyst reports. KeyCorp reissued an “overweight” rating and issued a $52.00 price target on shares of Nordstrom in a report on Thursday, May 26th. Buckingham Research reissued a “reduce” rating and issued a $47.00 price target on shares of Nordstrom in a report on Tuesday, May 31st. Argus reissued a “hold” rating on shares of Nordstrom in a report on Monday, June 13th. Maxim Group initiated coverage on shares of Nordstrom in a report on Wednesday, June 15th. They issued a “buy” rating and a $50.00 price target on the stock. Finally, Miller Tabak raised shares of Nordstrom from a “sell” rating to a “hold” rating and raised their price target for the stock from $30.00 to $39.50 in a report on Tuesday, July 5th. They noted that the move was a valuation call. Seven analysts have rated the stock with a sell rating, eighteen have given a hold rating and eight have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus 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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