Steward Partners Investment Advisory LLC bought a new stake in Nordstrom, Inc. (NYSE:JWN) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 5,473 shares of the specialty retailer’s stock, valued at approximately $258,000.
Other hedge funds have also modified their holdings of the company. San Francisco Sentry Investment Group CA raised its stake in shares of Nordstrom by 1,752.0% in the 3rd quarter. San Francisco Sentry Investment Group CA now owns 2,315 shares of the specialty retailer’s stock valued at $109,000 after acquiring an additional 2,190 shares during the period. Sei Investments Co. raised 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 valued at $152,000 after acquiring an additional 771 shares during the period. Mosaic Family Wealth LLC raised its stake in shares of Nordstrom by 8.2% in the 2nd quarter. Mosaic Family Wealth LLC now owns 3,195 shares of the specialty retailer’s stock valued at $153,000 after acquiring an additional 242 shares during the period. Advisory Services Network LLC raised its stake in shares of Nordstrom by 41.8% in the 2nd quarter. Advisory Services Network LLC now owns 3,452 shares of the specialty retailer’s stock valued at $165,000 after acquiring an additional 1,018 shares during the period. Finally, Thrivent Financial For Lutherans purchased a new position in shares of Nordstrom in the 2nd quarter valued at $202,000. 57.58% of the stock is currently owned by institutional investors and hedge funds.
A number of equities analysts have recently commented on the stock. KeyCorp reissued an “overweight” rating and issued a $55.00 target price on shares of Nordstrom in a research note on Thursday, September 14th. ValuEngine downgraded shares of Nordstrom from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. Cowen reaffirmed an “outperform” rating and set a $49.00 price target on shares of Nordstrom in a research note on Tuesday, August 29th. Royal Bank of Canada set a $45.00 price target on shares of Nordstrom and gave the stock a “hold” rating in a research note on Tuesday, August 29th. Finally, Gordon Haskett downgraded shares of Nordstrom from an “accumulate” rating to a “hold” rating in a research note on Wednesday, September 13th. 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. The company presently has a consensus rating of “Hold” and a consensus price target of $45.33.
Nordstrom (NYSE:JWN) last announced its quarterly earnings data on Thursday, November 9th. The specialty retailer reported $0.67 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.63 by $0.04. The company had revenue of $3.54 billion during the quarter, compared to analyst estimates of $3.50 billion. Nordstrom had a net margin of 3.25% and a return on equity of 67.44%. The firm’s revenue for the quarter was up 2.0% compared to the same quarter last year. During the same period last year, the business earned $0.84 EPS. sell-side analysts predict that Nordstrom, Inc. will post 2.95 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 12th. Shareholders of record on Monday, November 27th were issued a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 3.18%. The ex-dividend date of this dividend was Friday, November 24th. Nordstrom’s dividend 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.
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