Alerus Financial NA bought a new position in shares of Nordstrom, Inc. (NYSE:JWN – Get Rating) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 14,911 shares of the specialty retailer’s stock, valued at approximately $337,000.
Several other institutional investors and hedge funds have also bought and sold shares of the stock. Natixis lifted its stake in Nordstrom by 18.8% during the 3rd quarter. Natixis now owns 447,545 shares of the specialty retailer’s stock valued at $11,838,000 after acquiring an additional 70,849 shares in the last quarter. Cambridge Investment Research Advisors Inc. grew its position in Nordstrom by 124.6% in the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 39,360 shares of the specialty retailer’s stock worth $890,000 after purchasing an additional 21,837 shares in the last quarter. Russell Investments Group Ltd. increased its stake in Nordstrom by 1,420.9% in the 4th quarter. Russell Investments Group Ltd. now owns 92,745 shares of the specialty retailer’s stock valued at $2,096,000 after buying an additional 86,647 shares during the last quarter. Rafferty Asset Management LLC lifted its position in shares of Nordstrom by 28.2% during the 4th quarter. Rafferty Asset Management LLC now owns 46,273 shares of the specialty retailer’s stock worth $1,047,000 after buying an additional 10,187 shares in the last quarter. Finally, Moors & Cabot Inc. purchased a new position in shares of Nordstrom in the 3rd quarter worth approximately $214,000. Institutional investors own 57.27% of the company’s stock.
A number of research firms have recently commented on JWN. Zacks Investment Research upgraded Nordstrom from a “hold” rating to a “buy” rating and set a $26.00 target price on the stock in a research note on Wednesday, May 18th. BMO Capital Markets boosted their target price on shares of Nordstrom from $23.00 to $30.00 and gave the company a “market perform” rating in a research note on Wednesday, March 2nd. StockNews.com initiated coverage on shares of Nordstrom in a research note on Thursday, March 31st. They set a “buy” rating for the company. Cowen dropped their price objective on Nordstrom from $30.00 to $24.00 in a research note on Wednesday. Finally, Telsey Advisory Group raised their target price on Nordstrom from $27.00 to $30.00 and gave the stock a “market perform” rating in a research report on Wednesday, March 2nd. Four research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $27.71.
NYSE JWN traded up $2.21 during trading on Wednesday, hitting $22.89. 706,256 shares of the stock traded hands, compared to its average volume of 6,156,102. The firm has a 50-day simple moving average of $26.21 and a 200-day simple moving average of $24.52. Nordstrom, Inc. has a 12-month low of $18.65 and a 12-month high of $38.48. The company has a market capitalization of $3.65 billion, a P/E ratio of 21.92, a price-to-earnings-growth ratio of 1.14 and a beta of 2.25. The company has a quick ratio of 0.27, a current ratio of 0.96 and a debt-to-equity ratio of 4.91.
Nordstrom (NYSE:JWN – Get Rating) last posted its quarterly earnings data on Tuesday, May 24th. The specialty retailer reported ($0.06) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.01). The firm had revenue of $3.57 billion during the quarter, compared to analysts’ expectations of $3.29 billion. Nordstrom had a return on equity of 70.74% and a net margin of 1.20%. The business’s revenue for the quarter was up 18.6% compared to the same quarter last year. During the same period last year, the company earned ($0.64) earnings per share. As a group, research analysts predict that Nordstrom, Inc. will post 3.3 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 15th. Shareholders of record on Tuesday, May 31st will be issued a dividend of $0.19 per share. The ex-dividend date of this dividend is Friday, May 27th. This represents a $0.76 annualized dividend and a yield of 3.32%. Nordstrom’s payout ratio is currently 71.70%.
Nordstrom declared that its board has initiated a stock buyback plan on Tuesday, May 24th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the specialty retailer to reacquire up to 15.2% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.
About Nordstrom (Get Rating)
Nordstrom, Inc, a fashion retailer, provides apparels, shoes, beauty, accessories, and home goods for women, men, young adults, and children. It offers a range of brand name and private label merchandise through various channels, such as Nordstrom branded stores and online at Nordstrom.com; TrunkClub.com; Nordstrom.ca; Nordstrom stores; Nordstrom Rack stores; Nordstrom Locals; Nordstromrack.com and HauteLook; clearance stores under the Last Chance name; Trunk Club clubhouses; and Jeffrey boutiques.
- Get a free copy of the StockNews.com research report on Nordstrom (JWN)
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