Nordstrom Inc. (JWN) Shares Bought by Headinvest LLC
Headinvest LLC raised its position in Nordstrom Inc. (NYSE:JWN) by 1.4% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 7,070 shares of the company’s stock after buying an additional 100 shares during the period. Headinvest LLC’s holdings in Nordstrom were worth $269,000 as of its most recent SEC filing.
Other institutional investors have also bought and sold shares of the company. Bank of Montreal Can bought a new stake in shares of Nordstrom during the second quarter valued at about $111,916,000. Norges Bank bought a new stake in shares of Nordstrom during the fourth quarter valued at about $83,978,000. Wellington Management Group LLP increased its stake in shares of Nordstrom by 38.1% in the first quarter. Wellington Management Group LLP now owns 2,972,301 shares of the company’s stock valued at $170,046,000 after buying an additional 819,877 shares during the period. Adage Capital Partners GP L.L.C. bought a new stake in shares of Nordstrom during the first quarter valued at about $11,802,000. Finally, Panagora Asset Management Inc. increased its stake in shares of Nordstrom by 1,388.0% in the first quarter. Panagora Asset Management Inc. now owns 187,729 shares of the company’s stock valued at $10,740,000 after buying an additional 175,113 shares during the period. Institutional investors and hedge funds own 65.48% of the company’s stock.
Nordstrom Inc. (NYSE:JWN) traded down 1.14% during midday trading on Thursday, hitting $50.49. 3,744,267 shares of the company were exchanged. The stock has a 50 day moving average of $50.03 and a 200 day moving average of $46.86. Nordstrom Inc. has a 1-year low of $35.01 and a 1-year high of $75.67. The firm has a market capitalization of $8.76 billion, a PE ratio of 21.51 and a beta of 0.93.
Nordstrom (NYSE:JWN) last released its earnings results on Thursday, August 11th. The company reported $0.67 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.56 by $0.11. Nordstrom had a net margin of 2.95% and a return on equity of 47.22%. The company had revenue of $3.65 billion for the quarter, compared to analyst estimates of $3.67 billion. During the same quarter last year, the firm earned $0.93 EPS. The firm’s quarterly revenue was down .2% compared to the same quarter last year. On average, equities analysts predict that Nordstrom Inc. will post $2.73 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 13th. Investors of record on Monday, August 29th were issued a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 2.93%. The ex-dividend date was Thursday, August 25th. Nordstrom’s dividend payout ratio is currently 62.98%.
Several equities research analysts have issued reports on the stock. RBC Capital Markets restated a “sector perform” rating and set a $47.00 price objective (up from $38.00) on shares of Nordstrom in a research report on Monday, August 15th. Vetr downgraded shares of Nordstrom from a “sell” rating to a “strong sell” rating and set a $46.00 price target for the company. in a research report on Tuesday, September 6th. Cowen and Company reiterated an “outperform” rating and issued a $55.00 price target (up from $48.00) on shares of Nordstrom in a research report on Saturday, August 13th. Royal Bank Of Canada lifted their price target on shares of Nordstrom from $38.00 to $47.00 and gave the company a “sector perform” rating in a research report on Monday, August 15th. Finally, Morgan Stanley reiterated an “underweight” rating and issued a $36.00 price target (up from $34.00) on shares of Nordstrom in a research report on Monday, August 15th. Seven investment analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and eight have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $47.13.
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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