Probity Advisors Inc. lowered its position in Nordstrom, Inc. (NYSE:JWN) by 3.8% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 8,656 shares of the specialty retailer’s stock after selling 345 shares during the period. Probity Advisors Inc.’s holdings in Nordstrom were worth $414,000 as of its most recent SEC filing.
Several other large investors also recently modified their holdings of the stock. BlackRock Inc. increased its position in shares of Nordstrom by 2,321.7% in the first quarter. BlackRock Inc. now owns 8,021,009 shares of the specialty retailer’s stock valued at $373,537,000 after buying an additional 7,689,800 shares in the last quarter. Bank of New York Mellon Corp increased its position in shares of Nordstrom by 20.9% in the first quarter. Bank of New York Mellon Corp now owns 7,896,754 shares of the specialty retailer’s stock valued at $367,753,000 after buying an additional 1,364,328 shares in the last quarter. State Street Corp increased its position in shares of Nordstrom by 2.6% in the first quarter. State Street Corp now owns 6,330,520 shares of the specialty retailer’s stock valued at $294,822,000 after buying an additional 160,947 shares in the last quarter. Morgan Stanley increased its position in shares of Nordstrom by 9.8% in the first quarter. Morgan Stanley now owns 3,495,790 shares of the specialty retailer’s stock valued at $162,799,000 after buying an additional 311,529 shares in the last quarter. Finally, Skandinaviska Enskilda Banken AB publ increased its position in shares of Nordstrom by 32.2% in the first quarter. Skandinaviska Enskilda Banken AB publ now owns 3,354,037 shares of the specialty retailer’s stock valued at $156,198,000 after buying an additional 816,498 shares in the last quarter. Institutional investors and hedge funds own 66.53% of the company’s stock.
Shares of Nordstrom, Inc. (JWN) traded down 0.25% on Friday, reaching $44.33. 1,284,938 shares of the company’s stock traded hands. The firm’s 50-day moving average is $46.88 and its 200-day moving average is $45.53. Nordstrom, Inc. has a 52-week low of $39.53 and a 52-week high of $62.82. The stock has a market cap of $7.37 billion, a price-to-earnings ratio of 21.00 and a beta of 0.83.
Nordstrom (NYSE:JWN) last posted its earnings results on Thursday, August 10th. The specialty retailer reported $0.65 EPS for the quarter, beating the Zacks’ consensus estimate of $0.62 by $0.03. Nordstrom had a net margin of 2.44% and a return on equity of 71.57%. The company had revenue of $3.72 billion for the quarter, compared to analysts’ expectations of $3.70 billion. During the same quarter in the prior year, the company posted $0.67 earnings per share. Nordstrom’s revenue for the quarter was up 3.5% compared to the same quarter last year. Analysts anticipate that Nordstrom, Inc. will post $2.97 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 12th. Shareholders of record on Monday, August 28th will be paid a dividend of $0.37 per share. The ex-dividend date of this dividend is Thursday, August 24th. This represents a $1.48 dividend on an annualized basis and a yield of 3.34%. Nordstrom’s dividend payout ratio (DPR) is presently 70.14%.
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Several brokerages have recently issued reports on JWN. KeyCorp restated an “overweight” rating and issued a $55.00 price objective on shares of Nordstrom in a report on Monday, August 14th. Robert W. Baird set a $50.00 price target on shares of Nordstrom and gave the company a “hold” rating in a research report on Saturday, August 12th. Cowen and Company reaffirmed a “buy” rating and set a $49.00 price target on shares of Nordstrom in a research report on Friday, August 11th. BidaskClub cut shares of Nordstrom from a “buy” rating to a “hold” rating in a research report on Saturday, August 12th. Finally, Wolfe Research upped their price target on shares of Nordstrom from $45.00 to $47.00 and gave the company an “outperform” rating in a research report on Friday, August 11th. Four analysts have rated the stock with a sell rating, seventeen have given a hold rating and eight have given a buy rating to the company’s stock. Nordstrom presently has a consensus rating of “Hold” and an average target price of $48.10.
Nordstrom Company Profile
Nordstrom, Inc is a fashion specialty retailer in the United States. The Company’s segments include Retail and Credit. As of March 20, 2017, the Company operated 344 the United States stores located in 40 states as well as an e-commerce business. The Company also offers its customers a variety of payment products and services, including credit and debit cards.
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