OppenheimerFunds Inc. lowered its stake in Nordstrom, Inc. (NYSE:JWN) by 14.1% during the first quarter, HoldingsChannel reports. The institutional investor owned 468,836 shares of the specialty retailer’s stock after selling 77,070 shares during the period. OppenheimerFunds Inc.’s holdings in Nordstrom were worth $20,807,000 at the end of the most recent reporting period.
A number of other institutional investors also recently modified their holdings of the business. Vanguard Group Inc lifted its position in shares of Nordstrom by 1.5% in the third quarter. Vanguard Group Inc now owns 12,462,906 shares of the specialty retailer’s stock valued at $745,406,000 after acquiring an additional 178,581 shares in the last quarter. Strs Ohio lifted its position in Nordstrom by 17.6% during the fourth quarter. Strs Ohio now owns 6,839 shares of the specialty retailer’s stock worth $318,000 after buying an additional 1,023 shares during the period. M&T Bank Corp lifted its position in Nordstrom by 11.0% during the fourth quarter. M&T Bank Corp now owns 5,008 shares of the specialty retailer’s stock worth $234,000 after buying an additional 498 shares during the period. Chicago Equity Partners LLC lifted its position in Nordstrom by 1.6% during the fourth quarter. Chicago Equity Partners LLC now owns 15,415 shares of the specialty retailer’s stock worth $718,000 after buying an additional 250 shares during the period. Finally, Cambridge Investment Research Advisors Inc. lifted its position in Nordstrom by 8.6% during the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 11,196 shares of the specialty retailer’s stock worth $522,000 after buying an additional 884 shares during the period. Hedge funds and other institutional investors own 62.27% of the company’s stock.
JWN has been the topic of several recent analyst reports. Guggenheim reiterated a “hold” rating on shares of Nordstrom in a research report on Thursday, February 28th. Wedbush downgraded Nordstrom from an “outperform” rating to a “neutral” rating and reduced their target price for the stock from $65.00 to $40.00 in a research report on Thursday, May 9th. Bank of America reiterated an “underperform” rating and set a $40.00 target price (down from $48.00) on shares of Nordstrom in a research report on Wednesday, May 15th. Robert W. Baird reduced their target price on Nordstrom from $45.00 to $38.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 22nd. Finally, Deutsche Bank downgraded Nordstrom from a “buy” rating to a “hold” rating and set a $43.30 target price on the stock. in a research report on Friday, February 22nd. Five investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and three have issued a buy rating to the stock. Nordstrom currently has a consensus rating of “Hold” and a consensus price target of $43.57.
Shares of NYSE:JWN opened at $32.61 on Friday. The stock has a market cap of $5.05 billion, a price-to-earnings ratio of 9.19, a PEG ratio of 1.63 and a beta of 0.66. The company has a quick ratio of 0.24, a current ratio of 0.76 and a debt-to-equity ratio of 6.34. Nordstrom, Inc. has a 12 month low of $30.55 and a 12 month high of $67.75.
Nordstrom (NYSE:JWN) last announced its quarterly earnings results on Tuesday, May 21st. The specialty retailer reported $0.23 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.43 by ($0.20). The firm had revenue of $3.44 billion for the quarter, compared to analyst estimates of $3.54 billion. Nordstrom had a return on equity of 58.16% and a net margin of 3.27%. During the same quarter in the prior year, the company earned $0.51 earnings per share. Research analysts predict that Nordstrom, Inc. will post 3.35 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 18th. Shareholders of record on Monday, June 3rd will be paid a dividend of $0.37 per share. The ex-dividend date of this dividend is Friday, May 31st. This represents a $1.48 annualized dividend and a yield of 4.54%. Nordstrom’s dividend payout ratio is presently 41.69%.
In other Nordstrom news, insider Peter E. Nordstrom sold 3,380 shares of the company’s stock in a transaction dated Monday, June 10th. The stock was sold at an average price of $32.46, for a total transaction of $109,714.80. Following the completion of the sale, the insider now directly owns 2,530,989 shares in the company, valued at $82,155,902.94. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Christine Deputy sold 13,124 shares of the company’s stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $42.61, for a total value of $559,213.64. The disclosure for this sale can be found here. Insiders have sold 38,441 shares of company stock valued at $1,596,377 over the last 90 days. 5.21% of the stock is currently owned by insiders.
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Nordstrom, Inc, a fashion retailer, provides apparel, shoes, cosmetics, and accessories 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 full-line stores and online store at Nordstrom.com; Nordstrom Rack stores; Nordstromrack.com and HauteLook; Jeffrey boutiques; clearance stores that operate under the Last Chance name; Trunk Club clubhouses and TrunkClub.com; and Nordstrom Locals.
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