EMC Capital Management Makes New Investment in Nordstrom, Inc. (NYSE:JWN)

EMC Capital Management bought a new stake in Nordstrom, Inc. (NYSE:JWN) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 9,153 shares of the specialty retailer’s stock, valued at approximately $186,000.

Other large investors also recently bought and sold shares of the company. Register Financial Advisors LLC acquired a new stake in Nordstrom in the first quarter valued at $30,000. Hexagon Capital Partners LLC grew its holdings in Nordstrom by 77.6% in the fourth quarter. Hexagon Capital Partners LLC now owns 1,989 shares of the specialty retailer’s stock valued at $37,000 after purchasing an additional 869 shares during the last quarter. Spire Wealth Management grew its holdings in Nordstrom by 100.0% in the first quarter. Spire Wealth Management now owns 2,200 shares of the specialty retailer’s stock valued at $45,000 after purchasing an additional 1,100 shares during the last quarter. CWM LLC grew its holdings in Nordstrom by 1,000.3% in the first quarter. CWM LLC now owns 3,730 shares of the specialty retailer’s stock valued at $76,000 after purchasing an additional 3,391 shares during the last quarter. Finally, Acadian Asset Management LLC grew its holdings in Nordstrom by 217.5% in the first quarter. Acadian Asset Management LLC now owns 4,670 shares of the specialty retailer’s stock valued at $94,000 after purchasing an additional 3,199 shares during the last quarter. Institutional investors and hedge funds own 88.73% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently commented on JWN shares. Barclays increased their price objective on Nordstrom from $15.00 to $18.00 and gave the company an “underweight” rating in a research note on Friday, May 31st. Bank of America increased their price objective on Nordstrom from $15.00 to $18.00 and gave the company an “underperform” rating in a research note on Friday, May 31st. Telsey Advisory Group increased their price objective on Nordstrom from $19.00 to $23.00 and gave the company a “market perform” rating in a research note on Tuesday, July 9th. Evercore ISI increased their price objective on Nordstrom from $17.00 to $19.00 and gave the company an “in-line” rating in a research note on Friday, May 31st. Finally, StockNews.com lowered Nordstrom from a “buy” rating to a “hold” rating in a research note on Wednesday. Five equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $17.75.

Nordstrom Trading Down 5.2 %

NYSE:JWN traded down $1.17 during mid-day trading on Friday, reaching $21.13. The company’s stock had a trading volume of 2,566,937 shares, compared to its average volume of 3,483,524. The company’s fifty day simple moving average is $21.88 and its two-hundred day simple moving average is $20.23. The company has a debt-to-equity ratio of 3.13, a current ratio of 1.03 and a quick ratio of 0.36. Nordstrom, Inc. has a twelve month low of $12.88 and a twelve month high of $24.03. The stock has a market cap of $3.46 billion, a P/E ratio of 12.19, a P/E/G ratio of 2.62 and a beta of 2.62.

Nordstrom (NYSE:JWN) last released its quarterly earnings data on Thursday, May 30th. The specialty retailer reported ($0.24) EPS for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.16). The firm had revenue of $3.34 billion during the quarter, compared to analysts’ expectations of $3.19 billion. Nordstrom had a negative return on equity of 26.45% and a negative net margin of 1.35%. The business’s revenue for the quarter was up 4.8% compared to the same quarter last year. During the same quarter last year, the business earned $0.07 earnings per share. On average, equities analysts predict that Nordstrom, Inc. will post 1.79 EPS for the current year.

Nordstrom Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 19th. Investors of record on Tuesday, June 4th were issued a dividend of $0.19 per share. The ex-dividend date was Tuesday, June 4th. This represents a $0.76 annualized dividend and a dividend yield of 3.60%. Nordstrom’s payout ratio is currently 41.53%.

Nordstrom Company Profile

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; mobile application; and clearance stores under the Last Chance name.