Caisse DE Depot ET Placement DU Quebec raised its holdings in Nordstrom, Inc. (NYSE:JWN) by 315.0% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 21,870 shares of the specialty retailer’s stock after buying an additional 16,600 shares during the quarter. Caisse DE Depot ET Placement DU Quebec’s holdings in Nordstrom were worth $1,132,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in JWN. American Century Companies Inc. purchased a new stake in Nordstrom in the 1st quarter valued at about $267,000. Victory Capital Management Inc. raised its holdings in shares of Nordstrom by 8,362.1% in the 1st quarter. Victory Capital Management Inc. now owns 155,957 shares of the specialty retailer’s stock valued at $7,550,000 after purchasing an additional 154,114 shares in the last quarter. Eaton Vance Management raised its holdings in shares of Nordstrom by 54.3% in the 1st quarter. Eaton Vance Management now owns 64,241 shares of the specialty retailer’s stock valued at $3,110,000 after purchasing an additional 22,613 shares in the last quarter. Schwab Charles Investment Management Inc. raised its holdings in shares of Nordstrom by 13.4% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 995,234 shares of the specialty retailer’s stock valued at $48,180,000 after purchasing an additional 117,595 shares in the last quarter. Finally, LS Investment Advisors LLC raised its holdings in shares of Nordstrom by 31.9% in the 1st quarter. LS Investment Advisors LLC now owns 9,488 shares of the specialty retailer’s stock valued at $459,000 after purchasing an additional 2,296 shares in the last quarter. 55.36% of the stock is currently owned by hedge funds and other institutional investors.
NYSE JWN opened at $65.50 on Monday. The company has a debt-to-equity ratio of 2.35, a current ratio of 1.10 and a quick ratio of 0.54. The company has a market cap of $11.10 billion, a P/E ratio of 22.13, a PEG ratio of 3.08 and a beta of 0.86. Nordstrom, Inc. has a 52 week low of $37.79 and a 52 week high of $66.33.
Nordstrom (NYSE:JWN) last posted its quarterly earnings data on Thursday, August 16th. The specialty retailer reported $0.95 EPS for the quarter, topping the consensus estimate of $0.84 by $0.11. The firm had revenue of $3.98 billion during the quarter, compared to analyst estimates of $3.96 billion. Nordstrom had a net margin of 3.24% and a return on equity of 56.00%. Nordstrom’s revenue was up 7.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.65 EPS. research analysts forecast that Nordstrom, Inc. will post 3.57 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 19th. Investors of record on Tuesday, September 4th will be paid a dividend of $0.37 per share. The ex-dividend date of this dividend is Friday, August 31st. This represents a $1.48 annualized dividend and a dividend yield of 2.26%. Nordstrom’s dividend payout ratio (DPR) is presently 50.00%.
Nordstrom declared that its board has approved a stock repurchase program on Wednesday, August 22nd that permits the company to buyback $1.50 billion in shares. This buyback authorization permits the specialty retailer to reacquire up to 14.4% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.
Several research firms have recently commented on JWN. Telsey Advisory Group boosted their price target on shares of Nordstrom from $65.00 to $72.00 and gave the company an “outperform” rating in a report on Monday, September 10th. ValuEngine upgraded shares of Nordstrom from a “hold” rating to a “buy” rating in a report on Tuesday, September 4th. Goldman Sachs Group restated a “sell” rating on shares of Nordstrom in a report on Tuesday, September 4th. Cowen restated a “hold” rating and issued a $56.00 price target on shares of Nordstrom in a report on Friday, August 17th. Finally, Piper Jaffray Companies restated a “hold” rating and issued a $49.00 price target on shares of Nordstrom in a report on Friday, August 17th. Three analysts have rated the stock with a sell rating, fourteen have given a hold rating and six have assigned a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $56.05.
In related news, insider James F. Nordstrom, Jr. sold 37,880 shares of the business’s stock in a transaction that occurred on Friday, June 29th. The shares were sold at an average price of $52.55, for a total transaction of $1,990,594.00. Following the completion of the transaction, the insider now owns 481,285 shares in the company, valued at approximately $25,291,526.75. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Robert Sari sold 7,671 shares of the business’s stock in a transaction that occurred on Friday, August 17th. The stock was sold at an average price of $55.65, for a total transaction of $426,891.15. Following the transaction, the vice president now owns 25,178 shares of the company’s stock, valued at approximately $1,401,155.70. The disclosure for this sale can be found here. In the last quarter, insiders have sold 231,144 shares of company stock valued at $13,107,317. 7.05% of the stock is currently owned by company insiders.
Nordstrom, Inc, a fashion retailer, provides apparel, shoes, cosmetics, and accessories for women, men, young adults, and children in the United States and Canada. The company operates in two segments, Retail and Credit. The Retail segment offers a range of brand name and private label merchandise through various channels, including Nordstrom branded full-line stores and online store at Nordstrom.com; Nordstrom Rack stores; Nordstromrack.com and HauteLook; Trunk Club clubhouses and TrunkClub.com; Jeffrey boutiques; and clearance stores that operate under the Last Chance name.
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