Buckley Wealth Management LLC lifted its stake in Nordstrom, Inc. (NYSE:JWN) by 51.9% in the third quarter, Holdings Channel.com reports. The fund owned 22,360 shares of the specialty retailer’s stock after purchasing an additional 7,640 shares during the period. Buckley Wealth Management LLC’s holdings in Nordstrom were worth $753,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors also recently bought and sold shares of the company. Price T Rowe Associates Inc. MD raised its position in shares of Nordstrom by 1,093.5% in the second quarter. Price T Rowe Associates Inc. MD now owns 2,383,907 shares of the specialty retailer’s stock worth $75,951,000 after buying an additional 2,184,167 shares in the last quarter. Waddell & Reed Financial Inc. purchased a new stake in shares of Nordstrom in the second quarter worth $24,510,000. BTIM Corp. raised its position in shares of Nordstrom by 2,776.5% in the second quarter. BTIM Corp. now owns 790,182 shares of the specialty retailer’s stock worth $25,175,000 after buying an additional 762,712 shares in the last quarter. Schroder Investment Management Group raised its position in shares of Nordstrom by 50.3% in the second quarter. Schroder Investment Management Group now owns 2,072,022 shares of the specialty retailer’s stock worth $66,015,000 after buying an additional 693,633 shares in the last quarter. Finally, Nuveen Asset Management LLC purchased a new stake in shares of Nordstrom in the second quarter worth $16,094,000. 64.25% of the stock is owned by hedge funds and other institutional investors.
A number of equities research analysts recently issued reports on JWN shares. Goldman Sachs Group downgraded Nordstrom from a “neutral” rating to a “sell” rating and lowered their price objective for the stock from $37.00 to $30.00 in a research report on Thursday, June 27th. Telsey Advisory Group lowered their price objective on Nordstrom from $35.00 to $32.00 and set a “market perform” rating on the stock in a research report on Thursday, August 22nd. Bank of America reiterated an “underperform” rating and issued a $29.00 price objective (down previously from $32.00) on shares of Nordstrom in a research report on Thursday, August 22nd. Wedbush set a $24.00 price objective on Nordstrom and gave the stock a “hold” rating in a research report on Thursday, August 22nd. Finally, Morgan Stanley lowered their price objective on Nordstrom from $40.00 to $33.00 and set an “equal weight” rating on the stock in a research report on Friday, August 23rd. Four research analysts have rated the stock with a sell rating, sixteen have given a hold rating and one has issued a buy rating to the company. Nordstrom has a consensus rating of “Hold” and an average target price of $38.19.
Nordstrom (NYSE:JWN) last released its quarterly earnings results on Wednesday, August 21st. The specialty retailer reported $0.90 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.76 by $0.14. Nordstrom had a return on equity of 62.11% and a net margin of 3.17%. The business had revenue of $3.87 billion for the quarter, compared to the consensus estimate of $3.92 billion. During the same quarter last year, the business posted $0.95 earnings per share. The company’s revenue for the quarter was down 4.8% on a year-over-year basis. On average, sell-side analysts forecast that Nordstrom, Inc. will post 3.34 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Friday, August 30th were given a dividend of $0.37 per share. The ex-dividend date of this dividend was Thursday, August 29th. This represents a $1.48 dividend on an annualized basis and a yield of 4.23%. Nordstrom’s payout ratio is 41.69%.
In other Nordstrom news, insider Christine Deputy sold 1,906 shares of the firm’s stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $28.53, for a total transaction of $54,378.18. Following the sale, the insider now owns 56,913 shares in the company, valued at $1,623,727.89. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 5.21% of the company’s stock.
Nordstrom, Inc, a fashion retailer, provides apparel, shoes, cosmetics, and accessories for women, men, young adults, and children. It offers a range of brand name and private label merchandise through various channels, such as Nordstrom branded full-line stores and online store at Nordstrom.com; Nordstrom Rack stores; Nordstromrack.com and HauteLook; Jeffrey boutiques; clearance stores that operate under the Last Chance name; Trunk Club clubhouses and TrunkClub.com; and Nordstrom Locals.
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