Shell Asset Management Co. reduced its position in shares of Nordstrom Inc. (NYSE:JWN) by 32.3% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 39,063 shares of the company’s stock after selling 18,632 shares during the period. Shell Asset Management Co.’s holdings in Nordstrom were worth $1,486,000 at the end of the most recent reporting period.
A number of other hedge funds have also bought and sold shares of JWN. Peapack Gladstone Financial Corp acquired a new stake in Nordstrom during the first quarter worth about $202,000. EagleClaw Capital Managment LLC acquired a new stake in Nordstrom during the first quarter worth about $205,000. Rothschild Investment Corp IL acquired a new stake in Nordstrom during the second quarter worth about $217,000. Ken Stern & Associates Inc. boosted its stake in Nordstrom by 2.1% in the second quarter. Ken Stern & Associates Inc. now owns 6,454 shares of the company’s stock worth $246,000 after buying an additional 130 shares during the period. Finally, Stratos Wealth Partners LTD. acquired a new stake in Nordstrom during the first quarter worth about $257,000. Hedge funds and other institutional investors own 65.48% of the company’s stock.
Shares of Nordstrom Inc. (NYSE:JWN) traded up 0.78% during mid-day trading on Friday, hitting $51.88. The stock had a trading volume of 2,607,114 shares. The firm has a market capitalization of $9.00 billion, a PE ratio of 22.10 and a beta of 0.93. Nordstrom Inc. has a 1-year low of $35.01 and a 1-year high of $75.67. The stock’s 50-day moving average is $51.30 and its 200-day moving average is $46.67.
Nordstrom (NYSE:JWN) last issued its quarterly earnings results on Thursday, August 11th. The company reported $0.67 EPS for the quarter, topping the Zacks’ 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 company had revenue of $3.65 billion for the quarter, compared to analysts’ expectations of $3.67 billion. During the same quarter last year, the business earned $0.93 earnings per share. Nordstrom’s revenue was down .2% on a year-over-year basis. Equities analysts expect that Nordstrom Inc. will post $2.73 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, September 13th. Investors of record on Monday, August 29th were given a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 2.85%. The ex-dividend date was Thursday, August 25th. Nordstrom’s payout ratio is currently 62.98%.
JWN has been the subject of a number of analyst reports. Vetr upgraded shares of Nordstrom from a “hold” rating to a “buy” rating and set a $47.50 target price for the company in a research note on Tuesday, July 26th. Maxim Group initiated coverage on shares of Nordstrom in a research note on Wednesday, June 15th. They issued a “buy” rating and a $50.00 target price for the company. Stifel Nicolaus lifted their target price on shares of Nordstrom from $44.00 to $58.00 and gave the company a “buy” rating in a research note on Friday, August 12th. Deutsche Bank AG lifted their price target on shares of Nordstrom from $47.00 to $57.00 and gave the company a “buy” rating in a research report on Friday, August 12th. Finally, Guggenheim started coverage on shares of Nordstrom in a research report on Friday. They issued a “buy” rating on the stock. Seven investment analysts have rated the stock with a sell rating, eighteen have issued a hold rating and eight have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $47.13.
In related news, insider Daniel F. Little sold 5,270 shares of the firm’s stock in a transaction on Friday, September 23rd. The stock was sold at an average price of $52.00, for a total value of $274,040.00. Following the transaction, the insider now owns 68,088 shares in the company, valued at $3,540,576. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 7.03% of the stock is owned by corporate insiders.
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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