Trillium Asset Management LLC Has $582,000 Stake in Nordstrom Inc. (JWN)
Trillium Asset Management LLC reduced its position in Nordstrom Inc. (NYSE:JWN) by 41.0% during the second quarter, Holdings Channel reports. The institutional investor owned 15,290 shares of the company’s stock after selling 10,609 shares during the period. Trillium Asset Management LLC’s holdings in Nordstrom were worth $582,000 as of its most recent SEC filing.
Several other hedge funds have also added to or reduced their stakes in JWN. Ngam Advisors L.P. acquired a new stake in Nordstrom during the first quarter worth $1,251,000. TIAA CREF Investment Management LLC increased its stake in shares of Nordstrom by 22.7% in the first quarter. TIAA CREF Investment Management LLC now owns 696,390 shares of the company’s stock valued at $39,840,000 after buying an additional 128,940 shares during the period. Teachers Advisors Inc. increased its stake in shares of Nordstrom by 2.0% in the first quarter. Teachers Advisors Inc. now owns 155,610 shares of the company’s stock valued at $8,902,000 after buying an additional 3,034 shares during the period. NN Investment Partners Holdings N.V. purchased a new stake in shares of Nordstrom during the first quarter valued at approximately $884,000. Finally, Royce & Associates LP increased its stake in shares of Nordstrom by 0.6% in the first quarter. Royce & Associates LP now owns 171,000 shares of the company’s stock valued at $9,783,000 after buying an additional 1,000 shares during the period. 65.48% of the stock is currently owned by hedge funds and other institutional investors.
Nordstrom Inc. (NYSE:JWN) traded up 1.65% on Friday, reaching $54.83. 3,613,632 shares of the company’s stock traded hands. The firm has a 50-day moving average price of $51.40 and a 200-day moving average price of $46.51. The stock has a market capitalization of $9.51 billion, a price-to-earnings ratio of 23.36 and a beta of 1.04. Nordstrom Inc. has a 52 week low of $35.01 and a 52 week high of $69.54.
Nordstrom (NYSE:JWN) last announced its earnings results on Thursday, August 11th. The company reported $0.67 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.56 by $0.11. The business earned $3.65 billion during the quarter, compared to the consensus estimate of $3.67 billion. Nordstrom had a return on equity of 47.22% and a net margin of 2.95%. The business’s quarterly revenue was down .2% on a year-over-year basis. During the same period in the prior year, the company posted $0.93 EPS. On average, analysts predict that Nordstrom Inc. will post $2.73 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 13th. Stockholders of record on Monday, August 29th were paid a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 2.70%. The ex-dividend date of this dividend was Thursday, August 25th. Nordstrom’s payout ratio is 62.98%.
JWN has been the topic of several recent analyst reports. Vetr downgraded shares of Nordstrom from a “hold” rating to a “sell” rating and set a $47.33 price objective on the stock. in a research report on Monday, August 15th. Piper Jaffray Cos. raised shares of Nordstrom from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $45.00 to $53.00 in a research report on Tuesday, July 26th. Citigroup Inc. increased their price objective on shares of Nordstrom from $40.00 to $50.00 and gave the company a “neutral” rating in a research report on Friday, August 12th. Stifel Nicolaus increased their price objective on shares of Nordstrom from $44.00 to $58.00 and gave the company a “buy” rating in a research report on Friday, August 12th. Finally, Argus reissued a “hold” rating on shares of Nordstrom in a research report on Monday, June 13th. 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 stock. The stock currently has a consensus rating of “Hold” and an average target price of $47.23.
In other news, insider Daniel F. Little sold 5,270 shares of the company’s stock in a transaction that occurred on Friday, September 23rd. The stock was sold at an average price of $52.00, for a total transaction of $274,040.00. Following the completion of the transaction, the insider now directly owns 68,088 shares of the company’s stock, valued at approximately $3,540,576. The sale was disclosed in a filing with the SEC, which is available at this link. 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.
Want to see what other hedge funds are holding JWN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Nordstrom Inc. (NYSE:JWN).
Receive News & Ratings for Nordstrom Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Nordstrom Inc. and related companies with MarketBeat.com's FREE daily email newsletter.