Nordstrom, Inc. (JWN) Shares Bought by Ameriprise Financial Inc.

Ameriprise Financial Inc. boosted its stake in shares of Nordstrom, Inc. (NYSE:JWN) by 596.9% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 779,081 shares of the specialty retailer’s stock after purchasing an additional 667,296 shares during the period. Ameriprise Financial Inc. owned approximately 0.47% of Nordstrom worth $36,734,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in JWN. Russell Investments Group Ltd. grew its position in Nordstrom by 11.5% during the 2nd quarter. Russell Investments Group Ltd. now owns 61,972 shares of the specialty retailer’s stock worth $2,964,000 after purchasing an additional 6,384 shares during the last quarter. Hartford Investment Management Co. grew its position in Nordstrom by 5.0% during the 2nd quarter. Hartford Investment Management Co. now owns 27,104 shares of the specialty retailer’s stock worth $1,296,000 after purchasing an additional 1,290 shares during the last quarter. Municipal Employees Retirement System of Michigan grew its position in Nordstrom by 22.4% during the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 7,920 shares of the specialty retailer’s stock worth $378,000 after purchasing an additional 1,450 shares during the last quarter. Janney Montgomery Scott LLC grew its position in Nordstrom by 116.7% during the 2nd quarter. Janney Montgomery Scott LLC now owns 12,003 shares of the specialty retailer’s stock worth $574,000 after purchasing an additional 6,463 shares during the last quarter. Finally, CIBC Asset Management Inc grew its position in Nordstrom by 1.6% during the 2nd quarter. CIBC Asset Management Inc now owns 15,845 shares of the specialty retailer’s stock worth $758,000 after purchasing an additional 257 shares during the last quarter. 57.68% of the stock is currently owned by institutional investors.

Shares of Nordstrom, Inc. (NYSE JWN) opened at $45.50 on Friday. The company has a debt-to-equity ratio of 3.14, a quick ratio of 0.30 and a current ratio of 1.00. Nordstrom, Inc. has a 12 month low of $37.79 and a 12 month high of $61.85. The company has a market cap of $7,579.48, a P/E ratio of 14.58, a price-to-earnings-growth ratio of 2.57 and a beta of 0.89.

Nordstrom (NYSE:JWN) last posted its earnings results on Thursday, November 9th. The specialty retailer reported $0.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.04. Nordstrom had a net margin of 3.25% and a return on equity of 67.44%. The firm had revenue of $3.54 billion during the quarter, compared to analysts’ expectations of $3.50 billion. During the same period in the previous year, the business posted $0.84 EPS. The business’s revenue was up 2.0% compared to the same quarter last year. equities research analysts predict that Nordstrom, Inc. will post 2.95 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 12th. Investors of record on Monday, November 27th will be paid a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 3.25%. The ex-dividend date of this dividend is Friday, November 24th. Nordstrom’s dividend payout ratio is currently 52.11%.

Several analysts have weighed in on the stock. KeyCorp reissued an “overweight” rating and set a $55.00 target price on shares of Nordstrom in a research report on Thursday, September 14th. Credit Suisse Group reissued a “buy” rating and set a $52.00 target price on shares of Nordstrom in a research report on Thursday, August 10th. Zacks Investment Research raised shares of Nordstrom from a “hold” rating to a “buy” rating and set a $53.00 target price on the stock in a research report on Thursday, August 10th. ValuEngine downgraded shares of Nordstrom from a “buy” rating to a “hold” rating in a research report on Friday, September 1st. Finally, Cowen restated an “outperform” rating and set a $49.00 price objective on shares of Nordstrom in a research note on Tuesday, August 29th. Five investment analysts have rated the stock with a sell rating, sixteen have issued a hold rating and seven have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $45.33.

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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.

Institutional Ownership by Quarter for Nordstrom (NYSE:JWN)

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