Nordstrom Inc. (JWN) Shares Bought by Grandfield & Dodd LLC
Grandfield & Dodd LLC raised its stake in shares of Nordstrom Inc. (NYSE:JWN) by 5.7% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 226,405 shares of the company’s stock after buying an additional 12,280 shares during the period. Grandfield & Dodd LLC’s holdings in Nordstrom were worth $8,615,000 as of its most recent filing with the SEC.
Other hedge funds have also made changes to their positions in the company. Bank of Montreal Can purchased a new stake in Nordstrom during the second quarter valued at $111,916,000. Wellington Management Group LLP boosted its stake in 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. purchased a new stake in Nordstrom during the first quarter valued at $11,802,000. Panagora Asset Management Inc. boosted its stake in 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. Finally, Cornerstone Advisors Inc. boosted its stake in Nordstrom by 416,666.7% in the second quarter. Cornerstone Advisors Inc. now owns 150,036 shares of the company’s stock valued at $5,709,000 after buying an additional 150,000 shares during the period. 65.48% of the stock is owned by institutional investors.
Shares of Nordstrom Inc. (NYSE:JWN) traded up 1.06% during trading on Tuesday, reaching $51.65. 2,108,310 shares of the company’s stock were exchanged. Nordstrom Inc. has a 52 week low of $35.01 and a 52 week high of $75.08. The firm has a market capitalization of $8.96 billion, a PE ratio of 22.01 and a beta of 1.04. The company’s 50-day moving average price is $51.29 and its 200 day moving average price is $46.48.
Nordstrom (NYSE:JWN) last issued its earnings results on Thursday, August 11th. The company reported $0.67 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.56 by $0.11. The company had revenue of $3.65 billion for the quarter, compared to analysts’ expectations of $3.67 billion. Nordstrom had a net margin of 2.95% and a return on equity of 47.22%. The firm’s revenue was down .2% compared to the same quarter last year. During the same period in the prior year, the company earned $0.93 earnings per share. Analysts predict 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 issued a dividend of $0.37 per share. The ex-dividend date of this dividend was Thursday, August 25th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 2.87%. Nordstrom’s dividend payout ratio (DPR) is 62.98%.
JWN has been the subject of several analyst reports. Argus reissued a “hold” rating on shares of Nordstrom in a research note on Monday, June 13th. Maxim Group initiated coverage on shares of Nordstrom in a research note on Wednesday, June 15th. They issued a “buy” rating and a $50.00 price target for the company. Miller Tabak raised shares of Nordstrom from a “sell” rating to a “hold” rating and increased their price target for the company from $30.00 to $39.50 in a research note on Tuesday, July 5th. They noted that the move was a valuation call. Vetr cut shares of Nordstrom from a “strong-buy” rating to a “buy” rating and set a $43.19 price target for the company. in a research note on Thursday, July 7th. Finally, Piper Jaffray Cos. reissued a “neutral” rating and issued a $45.00 price target on shares of Nordstrom in a research note on Monday, July 11th. Seven research analysts have rated the stock with a sell rating, eighteen have given a hold rating and eight have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $47.23.
In other Nordstrom news, insider Daniel F. Little sold 5,270 shares of the stock in a transaction on Friday, September 23rd. The shares were sold at an average price of $52.00, for a total transaction of $274,040.00. Following the sale, the insider now directly owns 68,088 shares of the company’s stock, valued at $3,540,576. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 7.03% of the company’s stock.
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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