Whittier Trust Co. of Nevada Inc. Sells 96 Shares of Nordstrom Inc. (JWN)
Whittier Trust Co. of Nevada Inc. lowered its position in shares of Nordstrom Inc. (NYSE:JWN) by 1.6% during the second quarter, Holdings Channel reports. The institutional investor owned 5,759 shares of the company’s stock after selling 96 shares during the period. Whittier Trust Co. of Nevada Inc.’s holdings in Nordstrom were worth $219,000 at the end of the most recent quarter.
Other large investors also recently modified their holdings of the company. Wellington Management Group LLP boosted 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 worth $170,046,000 after buying an additional 819,877 shares in the last quarter. Douglas Lane & Associates LLC boosted its stake in shares of Nordstrom by 9.2% in the second quarter. Douglas Lane & Associates LLC now owns 534,836 shares of the company’s stock worth $20,351,000 after buying an additional 45,208 shares in the last quarter. Legal & General Group Plc boosted its stake in shares of Nordstrom by 1.2% in the first quarter. Legal & General Group Plc now owns 666,378 shares of the company’s stock worth $38,124,000 after buying an additional 7,922 shares in the last quarter. Nuveen Asset Management LLC boosted its stake in shares of Nordstrom by 3.2% in the first quarter. Nuveen Asset Management LLC now owns 21,013 shares of the company’s stock worth $1,202,000 after buying an additional 646 shares in the last quarter. Finally, Washington Trust Bank boosted its stake in shares of Nordstrom by 40.6% in the second quarter. Washington Trust Bank now owns 28,899 shares of the company’s stock worth $1,100,000 after buying an additional 8,343 shares in the last quarter. Institutional investors and hedge funds own 65.48% of the company’s stock.
Shares of Nordstrom Inc. (NYSE:JWN) traded up 0.87% on Wednesday, hitting $54.61. The stock had a trading volume of 1,635,125 shares. The stock’s 50-day moving average price is $51.51 and its 200 day moving average price is $46.41. Nordstrom Inc. has a 52 week low of $35.01 and a 52 week high of $69.54. The company has a market cap of $9.47 billion, a PE ratio of 23.27 and a beta of 1.04.
Nordstrom (NYSE:JWN) last released its quarterly earnings results on Thursday, August 11th. The company reported $0.67 EPS 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 analyst estimates of $3.67 billion. Nordstrom had a return on equity of 47.22% and a net margin of 2.95%. Nordstrom’s revenue was down .2% compared to the same quarter last year. During the same quarter last year, the firm posted $0.93 earnings per share. On average, analysts predict that Nordstrom Inc. will post $2.73 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 13th. Stockholders of record on Monday, August 29th were given a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 2.73%. The ex-dividend date was Thursday, August 25th. Nordstrom’s dividend payout ratio is currently 62.98%.
A number of equities research analysts recently weighed in on JWN shares. Cowen and Company restated an “outperform” rating and set a $55.00 price objective on shares of Nordstrom in a research note on Monday, August 29th. Stifel Nicolaus reiterated a “buy” rating and issued a $58.00 price target on shares of Nordstrom in a research report on Tuesday, September 13th. Vetr upgraded shares of Nordstrom from a “strong sell” rating to a “sell” rating and set a $46.00 price target on the stock in a research report on Wednesday, August 31st. Guggenheim initiated coverage on shares of Nordstrom in a research report on Friday, September 30th. They issued a “buy” rating and a $60.00 price target on the stock. Finally, Piper Jaffray Cos. reiterated an “overweight” rating and issued a $56.00 price target (up from $53.00) on shares of Nordstrom in a research report on Wednesday, August 10th. Seven analysts have rated the stock with a sell rating, eighteen have given a hold rating and eight have given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $47.23.
In related news, insider Daniel F. Little sold 5,277 shares of the stock in a transaction dated Friday, October 7th. The stock was sold at an average price of $55.00, for a total transaction of $290,235.00. Following the completion of the transaction, the insider now directly owns 68,223 shares in the company, valued at $3,752,265. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Daniel F. Little sold 12,770 shares of the stock in a transaction dated Wednesday, October 5th. The stock was sold at an average price of $53.00, for a total value of $676,810.00. The disclosure for this sale can be found here. 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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