Covington Capital Management raised its holdings in Nordstrom, Inc. (NYSE:JWN) by 35.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 5,237 shares of the specialty retailer’s stock after purchasing an additional 1,359 shares during the quarter. Covington Capital Management’s holdings in Nordstrom were worth $214,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Retirement Systems of Alabama boosted its holdings in shares of Nordstrom by 0.6% in the fourth quarter. Retirement Systems of Alabama now owns 47,082 shares of the specialty retailer’s stock valued at $1,927,000 after acquiring an additional 272 shares in the last quarter. Freestone Capital Holdings LLC boosted its holdings in shares of Nordstrom by 1.3% in the fourth quarter. Freestone Capital Holdings LLC now owns 21,701 shares of the specialty retailer’s stock valued at $888,000 after acquiring an additional 289 shares in the last quarter. Piedmont Investment Advisors Inc. boosted its holdings in shares of Nordstrom by 3.0% in the fourth quarter. Piedmont Investment Advisors Inc. now owns 10,024 shares of the specialty retailer’s stock valued at $410,000 after acquiring an additional 292 shares in the last quarter. Rowland & Co. Investment Counsel ADV boosted its holdings in shares of Nordstrom by 1.4% in the fourth quarter. Rowland & Co. Investment Counsel ADV now owns 22,441 shares of the specialty retailer’s stock valued at $919,000 after acquiring an additional 312 shares in the last quarter. Finally, San Francisco Sentry Investment Group CA boosted its holdings in shares of Nordstrom by 16.7% in the fourth quarter. San Francisco Sentry Investment Group CA now owns 2,450 shares of the specialty retailer’s stock valued at $100,000 after acquiring an additional 350 shares in the last quarter. Institutional investors own 63.43% of the company’s stock.
In other Nordstrom news, insider Erik B. Nordstrom sold 77,609 shares of the company’s stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $42.92, for a total value of $3,330,978.28. Following the sale, the insider now owns 2,720,391 shares of the company’s stock, valued at $116,759,181.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Anne L. Bramman sold 3,333 shares of the company’s stock in a transaction dated Wednesday, January 8th. The shares were sold at an average price of $42.25, for a total transaction of $140,819.25. Following the completion of the sale, the chief financial officer now directly owns 91,100 shares in the company, valued at approximately $3,848,975. The disclosure for this sale can be found here. 5.21% of the stock is owned by corporate insiders.
JWN has been the topic of several analyst reports. Robert W. Baird lowered their target price on shares of Nordstrom from $40.00 to $38.00 and set a “neutral” rating on the stock in a report on Thursday, March 5th. Gordon Haskett raised shares of Nordstrom from a “hold” rating to an “accumulate” rating and boosted their price objective for the stock from $36.00 to $48.00 in a report on Wednesday, January 8th. Odeon Capital Group began coverage on shares of Nordstrom in a report on Thursday, January 23rd. They set a “buy” rating and a $45.00 price objective on the stock. Citigroup decreased their price objective on shares of Nordstrom from $36.00 to $33.00 and set a “neutral” rating on the stock in a report on Wednesday, March 4th. Finally, TheStreet raised shares of Nordstrom from a “c+” rating to a “b-” rating in a report on Friday, November 29th. Six analysts have rated the stock with a sell rating, thirteen have given a hold rating and two have given a buy rating to the company’s stock. Nordstrom currently has an average rating of “Hold” and a consensus price target of $36.00.
Shares of NYSE JWN opened at $18.26 on Thursday. Nordstrom, Inc. has a 12-month low of $14.06 and a 12-month high of $46.20. The company has a market capitalization of $2.90 billion, a PE ratio of 5.76, a price-to-earnings-growth ratio of 1.14 and a beta of 0.73. The company has a debt-to-equity ratio of 4.65, a current ratio of 0.92 and a quick ratio of 0.37. The firm’s 50-day moving average is $31.77 and its two-hundred day moving average is $35.71.
Nordstrom (NYSE:JWN) last announced its quarterly earnings results on Tuesday, March 3rd. The specialty retailer reported $1.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.47 by ($0.05). Nordstrom had a net margin of 3.20% and a return on equity of 64.94%. The business had revenue of $4.54 billion during the quarter, compared to analysts’ expectations of $4.56 billion. During the same period last year, the company earned $1.48 EPS. The firm’s revenue for the quarter was up 1.2% on a year-over-year basis. On average, analysts forecast that Nordstrom, Inc. will post 2.7 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 25th. Shareholders of record on Tuesday, March 10th were issued a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 8.11%. The ex-dividend date of this dividend was Monday, March 9th.
Nordstrom Company Profile
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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