Parsec Financial Management Inc. increased its position in shares of Nordstrom Inc. (NYSE:JWN) by 7.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 206,501 shares of the company’s stock after buying an additional 13,486 shares during the period. Parsec Financial Management Inc.’s holdings in Nordstrom were worth $7,857,000 as of its most recent filing with the SEC.
Other hedge funds also recently added to or reduced their stakes in the company. Nisa Investment Advisors L.L.C. raised its stake 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 worth $2,613,000 after buying an additional 1,100 shares during the last quarter. Ngam Advisors L.P. acquired a new position in Nordstrom during the first quarter valued at approximately $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 during the last quarter. 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 during the last quarter. Finally, Peapack Gladstone Financial Corp acquired a new position in Nordstrom during the first quarter valued at approximately $202,000. Institutional investors own 65.48% of the company’s stock.
Shares of Nordstrom Inc. (NYSE:JWN) traded up 1.39% during trading on Friday, reaching $54.69. The company had a trading volume of 2,610,504 shares. Nordstrom Inc. has a 1-year low of $35.01 and a 1-year high of $69.54. The company’s 50 day moving average is $51.32 and its 200-day moving average is $46.53. The stock has a market capitalization of $9.49 billion, a price-to-earnings ratio of 23.30 and a beta of 1.04.
Nordstrom (NYSE:JWN) last issued its quarterly earnings results on Thursday, August 11th. The company reported $0.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.56 by $0.11. The business had revenue of $3.65 billion for 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 business’s quarterly revenue was down .2% on a year-over-year basis. During the same period in the prior year, the firm posted $0.93 earnings per share. On average, equities research analysts anticipate 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. Stockholders of record on Monday, August 29th were given a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 2.74%. The ex-dividend date was Thursday, August 25th. Nordstrom’s payout ratio is presently 62.98%.
JWN has been the subject of several recent analyst reports. Cowen and Company restated an “outperform” rating and set a $55.00 target price on shares of Nordstrom in a research report on Monday, August 29th. Stifel Nicolaus restated a “buy” rating and set a $58.00 target price on shares of Nordstrom in a research report on Tuesday, September 13th. Vetr upgraded Nordstrom from a “strong sell” rating to a “sell” rating and set a $46.00 target price for the company in a research report on Wednesday, August 31st. Guggenheim initiated coverage on Nordstrom in a research report on Friday, September 30th. They set a “buy” rating and a $60.00 target price for the company. Finally, Piper Jaffray Cos. restated an “overweight” rating and set a $56.00 target price (up from $53.00) on shares of Nordstrom in a research report on Wednesday, August 10th. Seven investment 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’s stock. The company has a consensus rating of “Hold” and an average price target of $47.23.
In other news, insider Daniel F. Little sold 5,270 shares of the company’s stock in a transaction on Friday, September 23rd. The stock was sold at an average price of $52.00, for a total transaction of $274,040.00. Following the transaction, the insider now directly owns 68,088 shares of the company’s stock, valued at $3,540,576. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 7.03% of the company’s stock.
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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