State Street Corp boosted its stake in shares of Nordstrom, Inc. (NYSE: JWN – Get Rating) by 3.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,313,164 shares of the specialty retailer’s stock after acquiring an additional 146,877 shares during the period. State Street Corp owned 2.71% of Nordstrom worth $ 97,564,000 at the end of the most recent reporting period.
A number of other institutional investors also recently bought and sold shares of JWN. Counterpoint Mutual Funds LLC bought a new position in Nordstrom during the 4th quarter worth $ 29,000. Charter Oak Capital Management LLC increased its stake in Nordstrom by 209.1% during the 4th quarter. Charter Oak Capital Management LLC now owns 1,626 shares of the specialty retailer’s stock worth $ 37,000 after acquiring an additional 1,100 shares during the period. Kozak & Associates Inc. acquired a new stake in shares of Nordstrom in the 3rd quarter valued at $ 45,000. Mine & Arao Wealth Creation & Management LLC. boosted its holdings in shares of Nordstrom by 69.5% in the 4th quarter. Mine & Arao Wealth Creation & Management LLC. now owns 2,000 shares of the specialty retailer’s stock valued at $ 45,000 after purchasing an additional 820 shares in the last quarter. Finally, Spire Wealth Management boosted its holdings in shares of Nordstrom by 2,243.0% in the 4th quarter. Spire Wealth Management now owns 2,507 shares of the specialty retailer’s stock valued at $ 57,000 after purchasing an additional 2,400 shares in the last quarter. Hedge funds and other institutional investors own 57.27% of the company stock.
In other news, CFO Anne L. Bramman sold 13,334 shares of Nordstrom stock in a transaction dated Monday, April 18th. The stock was sold at an average price of $ 28.74, for a total value of $ 383,219.16. Following the completion of the transaction, the chief financial officer now directly owns 120,137 shares of the company stock, valued at approximately $ 3,452,737.38. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Anne L. Bramman sold 13,333 shares of the business’s stock in a transaction dated Thursday, May 26th. The shares were sold at an average price of $ 24.20, for a total value of $ 322,658.60. Following the completion of the sale, the chief financial officer now directly owns 106,804 shares of the company stock, valued at $ 2,584,656.80. The disclosure for this sale can be found here. Company insiders own 5.45% of the company stock.
JWN has been the topic of a number of research analyst reports. Credit Suisse Group reduced their target price on Nordstrom to $ 26.00 in a report on Wednesday, May 25th. Barclays reduced their target price on Nordstrom to $ 21.00 in a report on Thursday, May 26th. Citigroup reduced their target price on Nordstrom from $ 27.00 to $ 22.00 and set a “neutral” rating on the stock in a report on Wednesday, May 25th. JPMorgan Chase & Co. reduced their target price on Nordstrom from $ 24.00 to $ 22.00 in a report on Monday, May 16th. Finally, Morgan Stanley reduced their target price on Nordstrom from $ 22.00 to $ 17.00 and set an “underweight” rating on the stock in a report on Thursday, May 26th. Three equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and three have given a buy rating to the company stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $ 27.38.
Shares of NYSE: JWN opened at $ 26.74 on Friday. The firm has a market cap of $ 4.29 billion, a P / E ratio of 11.94, a P / E / G ratio of 1.36 and a beta of 2.25. The company has a quick ratio of 0.31, a current ratio of 0.99 and a debt-to-equity ratio of 4.85. Nordstrom, Inc. has a 12-month low of $ 18.65 and a 12-month high of $ 38.48. The business has a fifty day simple moving average of $ 26.00 and a 200 day simple moving average of $ 23.96.
Nordstrom (NYSE: JWN – Get Rating) last announced its earnings results on Tuesday, May 24th. The specialty retailer reported ($ 0.06) earnings per share (EPS) for the quarter, missing the estimate consensus of ($ 0.05) by ($ 0.01). The company had revenue of $ 3.57 billion for the quarter, compared to the estimate consensus of $ 3.29 billion. Nordstrom had a return on equity of 74.13% and a net margin of 2.37%. The firm’s revenue for the quarter was up 18.6% on a year-over-year basis. During the same period in the prior year, the business earned ($ 0.64) earnings per share. As a group, equities research analysts expect that Nordstrom, Inc. will post 3.34 EPS for the current year.
Nordstrom announced that its Board of Directors has approved a share repurchase plan on Tuesday, May 24th that permits the company to repurchase $ 500.00 million in shares. This repurchase authorization permits the specialty retailer to repurchase up to 15.2% of its shares through open market purchases. Shares repurchase plans are often a sign that the company board of directors believes its stock is undervalued.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 15th. Stockholders of record on Tuesday, May 31st will be given a $ 0.19 dividend. This represents a $ 0.76 annualized dividend and a dividend yield of 2.84%. The ex-dividend date of this dividend is Friday, May 27th. Nordstrom’s dividend payout ratio (DPR) is presently 33.93%.
Nordstrom Company Profile: (Get Rating)
Nordstrom, Inc, a fashion retailer, provides apparels, shoes, beauty, accessories, and home goods 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 stores and online at Nordstrom.com; TrunkClub.com; Nordstrom.ca; Nordstrom stores; Nordstrom Rack stores; Nordstrom Locals; Nordstromrack.com and HauteLook; clearance stores under the Last Chance name; Trunk Club clubhouses; and Jeffrey boutiques.
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