First Trust Advisors LP decreased its stake in shares of Nordstrom, Inc. (NYSE:JWN) by 33.4% during the second quarter, HoldingsChannel.com reports. The firm owned 54,921 shares of the specialty retailer’s stock after selling 27,536 shares during the quarter. First Trust Advisors LP’s holdings in Nordstrom were worth $2,844,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors also recently modified their holdings of JWN. Sumitomo Mitsui Trust Holdings Inc. grew its stake in shares of Nordstrom by 0.7% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 381,996 shares of the specialty retailer’s stock worth $18,492,000 after purchasing an additional 2,842 shares in the last quarter. Atria Investments LLC grew its stake in shares of Nordstrom by 27.1% in the first quarter. Atria Investments LLC now owns 9,692 shares of the specialty retailer’s stock worth $469,000 after purchasing an additional 2,064 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Nordstrom by 173.2% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 64,531 shares of the specialty retailer’s stock worth $3,124,000 after purchasing an additional 40,907 shares in the last quarter. Trexquant Investment LP boosted its stake in Nordstrom by 126.0% during the first quarter. Trexquant Investment LP now owns 26,649 shares of the specialty retailer’s stock valued at $1,290,000 after buying an additional 14,859 shares in the last quarter. Finally, American Century Companies Inc. bought a new position in Nordstrom during the first quarter valued at about $267,000. Institutional investors own 55.07% of the company’s stock.
In other news, insider Erik B. Nordstrom sold 3,379 shares of the company’s stock in a transaction on Monday, June 11th. The stock was sold at an average price of $53.00, for a total transaction of $179,087.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider James F. Nordstrom, Jr. sold 37,880 shares of the company’s stock in a transaction on Friday, June 29th. The shares were sold at an average price of $52.55, for a total value of $1,990,594.00. Following the sale, the insider now directly owns 481,285 shares of the company’s stock, valued at $25,291,526.75. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 169,965 shares of company stock valued at $9,041,922. 7.05% of the stock is currently owned by company insiders.
Several research analysts recently weighed in on the company. ValuEngine raised Nordstrom from a “hold” rating to a “buy” rating in a research note on Tuesday. Goldman Sachs Group reaffirmed a “sell” rating on shares of Nordstrom in a research note on Tuesday. Piper Jaffray Companies reaffirmed a “hold” rating and set a $49.00 target price on shares of Nordstrom in a research note on Friday, August 17th. Cowen reaffirmed a “hold” rating and set a $56.00 target price on shares of Nordstrom in a research note on Friday, August 17th. Finally, Deutsche Bank raised their target price on Nordstrom from $56.00 to $61.00 and gave the company a “buy” rating in a research note on Friday, August 17th. Three research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and six have given a buy rating to the stock. Nordstrom currently has a consensus rating of “Hold” and an average target price of $55.68.
Shares of NYSE JWN opened at $65.11 on Friday. Nordstrom, Inc. has a 12 month low of $37.79 and a 12 month high of $66.30. The firm has a market cap of $10.52 billion, a PE ratio of 22.00, a P/E/G ratio of 2.94 and a beta of 0.86. The company has a debt-to-equity ratio of 2.35, a current ratio of 1.10 and a quick ratio of 0.54.
Nordstrom (NYSE:JWN) last announced its earnings results on Thursday, August 16th. The specialty retailer reported $0.95 EPS for the quarter, beating the consensus estimate of $0.84 by $0.11. Nordstrom had a return on equity of 56.00% and a net margin of 3.24%. The business had revenue of $3.98 billion during the quarter, compared to the consensus estimate of $3.96 billion. During the same period in the prior year, the business posted $0.65 earnings per share. Nordstrom’s revenue was up 7.1% compared to the same quarter last year. research analysts anticipate that Nordstrom, Inc. will post 3.57 earnings per share for the current fiscal year.
Nordstrom announced that its Board of Directors has approved a stock repurchase plan on Wednesday, August 22nd that authorizes the company to buyback $1.50 billion in shares. This buyback authorization authorizes the specialty retailer to repurchase up to 14.4% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 19th. Stockholders of record on Tuesday, September 4th will be issued a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 2.27%. The ex-dividend date is Friday, August 31st. Nordstrom’s dividend payout ratio is 50.00%.
Nordstrom Company Profile
Nordstrom, Inc, a fashion retailer, provides apparel, shoes, cosmetics, and accessories for women, men, young adults, and children in the United States and Canada. The company operates in two segments, Retail and Credit. The Retail segment offers a range of brand name and private label merchandise through various channels, including Nordstrom branded full-line stores and online store at Nordstrom.com; Nordstrom Rack stores; Nordstromrack.com and HauteLook; Trunk Club clubhouses and TrunkClub.com; Jeffrey boutiques; and clearance stores that operate under the Last Chance name.
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