Grimes & Company Inc. Purchases 2,825 Shares of Nordstrom Inc. (JWN)
Grimes & Company Inc. boosted its position in shares of Nordstrom Inc. (NYSE:JWN) by 2.7% during the second quarter, Holdings Channel reports. The institutional investor owned 108,512 shares of the company’s stock after buying an additional 2,825 shares during the period. Grimes & Company Inc. owned approximately 0.06% of Nordstrom worth $4,129,000 at the end of the most recent quarter.
Several other large investors have also recently added to or reduced their stakes in the stock. Peapack Gladstone Financial Corp purchased a new stake in Nordstrom during the first quarter worth about $202,000. EagleClaw Capital Managment LLC bought a new position in shares of Nordstrom during the first quarter worth about $205,000. Rothschild Investment Corp IL bought a new position in shares of Nordstrom during the second quarter worth about $217,000. Ken Stern & Associates Inc. increased its position in shares of Nordstrom by 2.1% in the second quarter. Ken Stern & Associates Inc. now owns 6,454 shares of the company’s stock worth $246,000 after buying an additional 130 shares during the period. Finally, Buffington Mohr McNeal bought a new position in shares of Nordstrom during the first quarter worth about $251,000. Institutional investors and hedge funds own 65.49% of the company’s stock.
Shares of Nordstrom Inc. (NYSE:JWN) traded down 1.72% during midday trading on Tuesday, hitting $49.76. The company had a trading volume of 1,729,178 shares. The company has a 50-day moving average of $49.48 and a 200 day moving average of $46.80. The firm has a market capitalization of $8.63 billion, a PE ratio of 21.20 and a beta of 0.93. Nordstrom Inc. has a 12 month low of $35.01 and a 12 month high of $75.67.
Nordstrom (NYSE:JWN) last posted its earnings results on Thursday, August 11th. The company reported $0.67 EPS for the quarter, beating the Zacks’ consensus estimate of $0.56 by $0.11. Nordstrom had a return on equity of 47.22% and a net margin of 2.95%. The company had revenue of $3.65 billion for the quarter, compared to the consensus estimate of $3.67 billion. During the same quarter in the previous year, the business earned $0.93 earnings per share. The company’s revenue for the quarter was down .2% on a year-over-year basis. On average, analysts expect that Nordstrom Inc. will post $2.73 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 13th. Shareholders of record on Monday, August 29th were given a $0.37 dividend. The ex-dividend date of this dividend was Thursday, August 25th. This represents a $1.48 dividend on an annualized basis and a yield of 2.97%. Nordstrom’s dividend payout ratio is currently 62.98%.
A number of brokerages recently issued reports on JWN. Cowen and Company reiterated an “outperform” rating and set a $55.00 price objective on shares of Nordstrom in a research note on Monday, August 29th. Vetr upgraded Nordstrom from a “hold” rating to a “buy” rating and set a $47.50 price objective for the company in a research note on Tuesday, July 26th. RBC Capital Markets reiterated a “sector perform” rating and set a $47.00 price objective (up from $38.00) on shares of Nordstrom in a research note on Monday, August 15th. Piper Jaffray Cos. reiterated a “neutral” rating and set a $45.00 price objective on shares of Nordstrom in a research note on Monday, July 11th. Finally, Telsey Advisory Group boosted their price objective on Nordstrom from $40.00 to $53.00 and gave the company a “market perform” rating in a research note on Friday, August 12th. Seven research analysts have rated the stock with a sell rating, eighteen have given a hold rating and eight have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $47.13.
Nordstrom Company Profile
Nordstrom, Inc is a fashion specialty retailer in the United States. The company operates through two segments: Retail and Credit. The Retail segment includes approximately 115 Nordstrom branded full-line stores in the United States and Nordstrom.com, approximately 167 off-price Nordstrom Rack stores, two Canada full-line stores, Nordstromrack.com and HauteLook, and other retail channels, including five Trunk Club showrooms and TrunkClub.com, its two Jeffrey boutiques and one clearance store that operates under the name Last Chance.
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