Personal CFO Solutions LLC bought a new stake in shares of Nordstrom, Inc. (NYSE:JWN – Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 10,521 shares of the specialty retailer’s stock, valued at approximately $215,000.
Other institutional investors have also recently modified their holdings of the company. Prudential Financial Inc. lifted its position in shares of Nordstrom by 3.4% during the 1st quarter. Prudential Financial Inc. now owns 12,666 shares of the specialty retailer’s stock worth $344,000 after buying an additional 415 shares during the last quarter. HighTower Advisors LLC lifted its position in shares of Nordstrom by 0.8% during the 1st quarter. HighTower Advisors LLC now owns 58,656 shares of the specialty retailer’s stock worth $1,592,000 after buying an additional 494 shares during the last quarter. US Bancorp DE lifted its position in shares of Nordstrom by 0.7% during the 2nd quarter. US Bancorp DE now owns 72,403 shares of the specialty retailer’s stock worth $1,482,000 after buying an additional 505 shares during the last quarter. Guggenheim Capital LLC lifted its position in shares of Nordstrom by 4.2% during the 1st quarter. Guggenheim Capital LLC now owns 14,001 shares of the specialty retailer’s stock worth $380,000 after buying an additional 568 shares during the last quarter. Finally, First Republic Investment Management Inc. lifted its position in shares of Nordstrom by 2.1% during the 1st quarter. First Republic Investment Management Inc. now owns 33,586 shares of the specialty retailer’s stock worth $546,000 after buying an additional 704 shares during the last quarter. 62.56% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
Several analysts recently weighed in on JWN shares. Citigroup dropped their price objective on Nordstrom from $20.00 to $18.00 and set a “neutral” rating for the company in a research report on Friday, August 25th. StockNews.com assumed coverage on Nordstrom in a research report on Thursday, October 5th. They issued a “buy” rating for the company. Telsey Advisory Group reissued a “market perform” rating and set a $19.00 price target on shares of Nordstrom in a research note on Thursday, November 16th. UBS Group cut their price target on Nordstrom from $12.00 to $11.00 and set a “sell” rating on the stock in a research note on Friday, August 25th. Finally, JPMorgan Chase & Co. cut their price target on Nordstrom from $21.00 to $20.00 in a research note on Sunday, August 27th. Five equities research analysts have rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $17.75.
Nordstrom Stock Up 0.6 %
Shares of NYSE:JWN opened at $15.18 on Tuesday. The stock has a market cap of $2.45 billion, a price-to-earnings ratio of 84.33, a PEG ratio of 0.99 and a beta of 2.43. The company has a quick ratio of 0.43, a current ratio of 0.99 and a debt-to-equity ratio of 3.87. Nordstrom, Inc. has a 12-month low of $12.88 and a 12-month high of $27.15. The business’s 50 day moving average is $14.28 and its 200 day moving average is $17.01.
Nordstrom (NYSE:JWN – Get Free Report) last announced its earnings results on Thursday, August 24th. The specialty retailer reported $0.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.45 by $0.39. Nordstrom had a return on equity of 46.55% and a net margin of 0.21%. The company had revenue of $3.77 billion for the quarter, compared to analysts’ expectations of $3.68 billion. During the same quarter in the previous year, the firm earned $0.81 earnings per share. Nordstrom’s quarterly revenue was down 7.9% on a year-over-year basis. On average, sell-side analysts forecast that Nordstrom, Inc. will post 2.01 earnings per share for the current fiscal year.
Nordstrom Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 13th. Shareholders of record on Tuesday, November 28th will be given a $0.19 dividend. The ex-dividend date of this dividend is Monday, November 27th. This represents a $0.76 annualized dividend and a yield of 5.01%. Nordstrom’s dividend payout ratio is currently 422.22%.
Insiders Place Their Bets
In other Nordstrom news, insider Gemma Lionello sold 32,916 shares of the business’s stock in a transaction on Thursday, October 5th. The stock was sold at an average price of $14.36, for a total value of $472,673.76. Following the transaction, the insider now owns 39,973 shares of the company’s stock, valued at $574,012.28. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 5.90% of the company’s stock.
Nordstrom, Inc, a fashion retailer, provides apparels, shoes, beauty, accessories, and home goods 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 stores and online at Nordstrom.com; Nordstrom.ca; Nordstrom stores; Nordstrom Rack stores; Nordstrom Locals; ASOS; Nordstromrack.com; and clearance stores under the Last Chance name.
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