Cambridge Investment Research Advisors Inc. decreased its position in shares of Nordstrom, Inc. (NYSE:JWN) by 56.4% during the fourth quarter, HoldingsChannel.com reports. The fund owned 7,864 shares of the specialty retailer’s stock after selling 10,154 shares during the quarter. Cambridge Investment Research Advisors Inc.’s holdings in Nordstrom were worth $373,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Cognios Capital LLC raised its stake in Nordstrom by 2.7% during the 4th quarter. Cognios Capital LLC now owns 43,394 shares of the specialty retailer’s stock worth $2,054,000 after acquiring an additional 1,149 shares during the period. Meadow Creek Investment Management LLC raised its position in shares of Nordstrom by 7.7% during the fourth quarter. Meadow Creek Investment Management LLC now owns 16,548 shares of the specialty retailer’s stock valued at $784,000 after buying an additional 1,176 shares during the last quarter. Amalgamated Bank raised its position in shares of Nordstrom by 5.2% during the fourth quarter. Amalgamated Bank now owns 25,208 shares of the specialty retailer’s stock valued at $1,194,000 after buying an additional 1,257 shares during the last quarter. Flippin Bruce & Porter Inc. raised its position in shares of Nordstrom by 1.3% during the fourth quarter. Flippin Bruce & Porter Inc. now owns 114,077 shares of the specialty retailer’s stock valued at $5,405,000 after buying an additional 1,455 shares during the last quarter. Finally, Global X Management Co. LLC raised its position in shares of Nordstrom by 20.1% during the fourth quarter. Global X Management Co. LLC now owns 8,762 shares of the specialty retailer’s stock valued at $415,000 after buying an additional 1,466 shares during the last quarter. Institutional investors own 58.77% of the company’s stock.
JWN stock opened at $47.39 on Friday. Nordstrom, Inc. has a fifty-two week low of $37.79 and a fifty-two week high of $54.00. The company has a quick ratio of 0.45, a current ratio of 1.07 and a debt-to-equity ratio of 2.74. The firm has a market capitalization of $8,077.79, a P/E ratio of 16.01, a price-to-earnings-growth ratio of 2.36 and a beta of 0.83.
Nordstrom (NYSE:JWN) last posted its earnings results on Thursday, March 1st. The specialty retailer reported $1.20 earnings per share for the quarter, missing analysts’ consensus estimates of $1.24 by ($0.04). Nordstrom had a net margin of 2.86% and a return on equity of 60.72%. The business had revenue of $4.60 billion during the quarter, compared to analysts’ expectations of $4.57 billion. During the same period last year, the business posted $1.27 earnings per share. The company’s revenue for the quarter was up 8.4% compared to the same quarter last year. analysts predict that Nordstrom, Inc. will post 3.42 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 20th. Investors of record on Monday, March 5th were issued a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 3.12%. The ex-dividend date of this dividend was Friday, March 2nd. Nordstrom’s dividend payout ratio (DPR) is presently 50.00%.
JWN has been the topic of several recent analyst reports. TheStreet upgraded shares of Nordstrom from a “c+” rating to a “b-” rating in a research report on Friday, March 2nd. Zacks Investment Research upgraded shares of Nordstrom from a “hold” rating to a “buy” rating and set a $56.00 price objective on the stock in a research report on Monday, January 15th. ValuEngine cut shares of Nordstrom from a “buy” rating to a “hold” rating in a research report on Sunday, December 31st. Robert W. Baird set a $49.00 price objective on shares of Nordstrom and gave the company a “hold” rating in a research report on Friday, December 22nd. Finally, Royal Bank of Canada set a $49.00 price objective on shares of Nordstrom and gave the company a “hold” rating in a research report on Friday, March 2nd. Two research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and six have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $48.92.
In other Nordstrom news, CMO Scott A. Meden sold 10,000 shares of Nordstrom stock in a transaction on Thursday, April 12th. The shares were sold at an average price of $49.02, for a total transaction of $490,200.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Ken Worzel sold 13,703 shares of Nordstrom stock in a transaction on Wednesday, April 11th. The stock was sold at an average price of $48.97, for a total transaction of $671,035.91. The disclosure for this sale can be found here. 7.32% of the stock is owned by insiders.
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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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