Neuberger Berman Group LLC Decreases Holdings in Nordstrom, Inc. (JWN)
Neuberger Berman Group LLC trimmed its holdings in shares of Nordstrom, Inc. (NYSE:JWN) by 20.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 63,747 shares of the specialty retailer’s stock after selling 16,627 shares during the period. Neuberger Berman Group LLC’s holdings in Nordstrom were worth $3,049,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also made changes to their positions in JWN. BlackRock Inc. lifted its stake in Nordstrom by 2,321.7% during the 1st quarter. BlackRock Inc. now owns 8,021,009 shares of the specialty retailer’s stock valued at $373,537,000 after acquiring an additional 7,689,800 shares during the period. Bank of New York Mellon Corp lifted its stake in Nordstrom by 37.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 10,882,305 shares of the specialty retailer’s stock valued at $520,501,000 after acquiring an additional 2,985,551 shares during the period. Skandinaviska Enskilda Banken AB publ lifted its stake in Nordstrom by 32.2% during the 1st quarter. Skandinaviska Enskilda Banken AB publ now owns 3,354,037 shares of the specialty retailer’s stock valued at $156,198,000 after acquiring an additional 816,498 shares during the period. Edge Asset Management Inc. lifted its stake in Nordstrom by 75.4% during the 1st quarter. Edge Asset Management Inc. now owns 988,102 shares of the specialty retailer’s stock valued at $46,015,000 after acquiring an additional 424,815 shares during the period. Finally, Ariel Investments LLC lifted its stake in Nordstrom by 41.7% during the 1st quarter. Ariel Investments LLC now owns 1,215,593 shares of the specialty retailer’s stock valued at $56,610,000 after acquiring an additional 357,644 shares during the period. Institutional investors and hedge funds own 63.71% of the company’s stock.
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Several analysts have commented on JWN shares. Gordon Haskett restated an “accumulate” rating on shares of Nordstrom in a research note on Friday, June 9th. J P Morgan Chase & Co restated an “underweight” rating and set a $48.00 price objective on shares of Nordstrom in a research note on Friday, July 14th. ValuEngine cut shares of Nordstrom from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. Vetr cut shares of Nordstrom from a “sell” rating to a “strong sell” rating and set a $41.54 price objective for the company. in a research note on Monday, July 17th. Finally, William Blair restated an “outperform” rating on shares of Nordstrom in a research note on Tuesday. Four equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating and eight have given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $48.26.
Shares of Nordstrom, Inc. (NYSE JWN) opened at 47.74 on Thursday. Nordstrom, Inc. has a 12-month low of $39.53 and a 12-month high of $62.82. The stock’s 50 day moving average is $45.94 and its 200-day moving average is $45.60. The stock has a market cap of $7.94 billion, a price-to-earnings ratio of 22.61 and a beta of 0.82.
Nordstrom (NYSE:JWN) last released its quarterly earnings results on Thursday, August 10th. The specialty retailer reported $0.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.62 by $0.03. The business had revenue of $3.72 billion during the quarter, compared to the consensus estimate of $3.70 billion. Nordstrom had a return on equity of 71.57% and a net margin of 2.44%. The business’s revenue was up 3.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.67 EPS. Equities analysts anticipate that Nordstrom, Inc. will post $2.97 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, September 12th. Stockholders of record on Monday, August 28th were paid a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 3.10%. The ex-dividend date was Thursday, August 24th. Nordstrom’s dividend payout ratio (DPR) is presently 70.14%.
Nordstrom, Inc is a fashion specialty retailer in the United States. The Company’s segments include Retail and Credit. As of March 20, 2017, the Company operated 344 the United States stores located in 40 states as well as an e-commerce business. The Company also offers its customers a variety of payment products and services, including credit and debit cards.
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