Nordstrom, Inc. (JWN) Stake Lessened by Millie Capital Management LLC

Millie Capital Management LLC lessened its holdings in Nordstrom, Inc. (NYSE:JWN) by 37.0% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 27,585 shares of the specialty retailer’s stock after selling 16,235 shares during the period. Millie Capital Management LLC’s holdings in Nordstrom were worth $1,301,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of JWN. Russell Investments Group Ltd. lifted its stake in shares of Nordstrom by 11.5% in 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 period. Municipal Employees Retirement System of Michigan lifted its stake in shares of Nordstrom by 22.4% in 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 period. Janney Montgomery Scott LLC lifted its stake in shares of Nordstrom by 116.7% in 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 period. CIBC Asset Management Inc lifted its stake in shares of Nordstrom by 1.6% in 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 period. Finally, Sei Investments Co. lifted its stake in shares of Nordstrom by 32.0% in the 2nd quarter. Sei Investments Co. now owns 3,177 shares of the specialty retailer’s stock worth $152,000 after purchasing an additional 771 shares during the period. Hedge funds and other institutional investors own 57.74% of the company’s stock.

Several equities analysts have recently weighed in on the stock. Robert W. Baird set a $50.00 price objective on shares of Nordstrom and gave the stock a “hold” rating in a research note on Saturday, August 12th. KeyCorp reiterated an “outperform” rating on shares of Nordstrom in a research note on Friday, November 10th. Wolfe Research increased their price objective on shares of Nordstrom from $45.00 to $47.00 and gave the stock an “outperform” rating in a research note on Friday, August 11th. Zacks Investment Research upgraded shares of Nordstrom from a “hold” rating to a “buy” rating and set a $53.00 price objective on the stock in a research note on Thursday, August 10th. Finally, Cowen reiterated a “buy” rating and issued a $49.00 price objective on shares of Nordstrom in a research note on Friday, August 11th. Five equities research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and seven have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $45.33.

Nordstrom, Inc. (JWN) traded down $1.11 during midday trading on Wednesday, reaching $46.15. 2,109,400 shares of the company’s stock were exchanged, compared to its average volume of 2,912,612. 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 $7,872.68, a PE ratio of 15.15, a price-to-earnings-growth ratio of 2.67 and a beta of 0.90. 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 (NYSE:JWN) last released its earnings results on Thursday, November 9th. The specialty retailer reported $0.67 EPS for the quarter, topping analysts’ consensus estimates of $0.63 by $0.04. Nordstrom had a net margin of 3.25% and a return on equity of 67.44%. The company had revenue of $3.54 billion for the quarter, compared to analysts’ expectations of $3.50 billion. During the same quarter last year, the business earned $0.84 EPS. The firm’s revenue was up 2.0% compared to the same quarter last year. sell-side analysts predict that Nordstrom, Inc. will post 2.95 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 12th. Stockholders of record on Monday, November 27th will be given a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 3.21%. The ex-dividend date of this dividend is Friday, November 24th. Nordstrom’s payout ratio is currently 52.11%.

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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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