Rhumbline Advisers reduced its holdings in shares of Nordstrom, Inc. (NYSE:JWN) by 2.5% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 220,500 shares of the specialty retailer’s stock after selling 5,567 shares during the quarter. Rhumbline Advisers owned approximately 0.13% of Nordstrom worth $10,397,000 as of its most recent SEC filing.
A number of other institutional investors have also modified their holdings of JWN. Dimensional Fund Advisors LP grew its position in Nordstrom by 0.8% during the first quarter. Dimensional Fund Advisors LP now owns 677,200 shares of the specialty retailer’s stock worth $31,536,000 after buying an additional 5,095 shares in the last quarter. LS Investment Advisors LLC grew its position in Nordstrom by 6.1% during the second quarter. LS Investment Advisors LLC now owns 7,132 shares of the specialty retailer’s stock worth $341,000 after buying an additional 412 shares in the last quarter. Russell Investments Group Ltd. grew its position in Nordstrom by 11.5% during the second quarter. Russell Investments Group Ltd. now owns 61,972 shares of the specialty retailer’s stock worth $2,964,000 after buying an additional 6,384 shares in the last quarter. Naples Global Advisors LLC grew its position in Nordstrom by 1.7% during the second quarter. Naples Global Advisors LLC now owns 20,598 shares of the specialty retailer’s stock worth $985,000 after buying an additional 351 shares in the last quarter. Finally, Hartford Investment Management Co. grew its position in Nordstrom by 5.0% during the second quarter. Hartford Investment Management Co. now owns 27,104 shares of the specialty retailer’s stock worth $1,296,000 after buying an additional 1,290 shares in the last quarter. Institutional investors and hedge funds own 57.74% of the company’s stock.
A number of equities analysts have recently issued reports on JWN shares. Credit Suisse Group reiterated a “buy” rating and issued a $52.00 price objective on shares of Nordstrom in a report on Thursday, August 10th. Zacks Investment Research upgraded Nordstrom from a “hold” rating to a “buy” rating and set a $53.00 price objective for the company in a report on Thursday, August 10th. Cowen reiterated a “buy” rating and issued a $49.00 price objective on shares of Nordstrom in a report on Friday, August 11th. KeyCorp set a $55.00 price objective on Nordstrom and gave the stock a “buy” rating in a report on Wednesday, October 11th. Finally, Robert W. Baird set a $50.00 target price on Nordstrom and gave the company a “hold” rating in a research note on Saturday, August 12th. Five research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and seven have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $45.33.
Shares of Nordstrom, Inc. (NYSE JWN) opened at $47.26 on Tuesday. 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 52 week low of $37.79 and a 52 week high of $61.85. The company has a market capitalization of $7,579.50, a price-to-earnings ratio of 14.58, a price-to-earnings-growth ratio of 2.57 and a beta of 0.90.
Nordstrom (NYSE:JWN) last issued its earnings results on Thursday, November 9th. The specialty retailer reported $0.67 EPS for the quarter, beating the consensus estimate of $0.63 by $0.04. Nordstrom had a return on equity of 67.44% and a net margin of 3.25%. The business had revenue of $3.54 billion for the quarter, compared to the consensus estimate of $3.50 billion. During the same period last year, the business posted $0.84 EPS. The company’s revenue was up 2.0% compared to the same quarter last year. equities research analysts anticipate that Nordstrom, Inc. will post 2.95 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 12th. Stockholders of record on Monday, November 27th will be issued a dividend of $0.37 per share. The ex-dividend date of this dividend is Friday, November 24th. This represents a $1.48 annualized dividend and a dividend yield of 3.13%. Nordstrom’s payout ratio is 52.11%.
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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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