SkyBridge Capital II LLC Invests $14.16 Million in Nordstrom, Inc. (JWN)
SkyBridge Capital II LLC acquired a new stake in Nordstrom, Inc. (NYSE:JWN) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 295,988 shares of the specialty retailer’s stock, valued at approximately $14,157,000. Nordstrom accounts for about 3.4% of SkyBridge Capital II LLC’s portfolio, making the stock its 14th largest position. SkyBridge Capital II LLC owned about 0.18% of Nordstrom at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Flippin Bruce & Porter Inc. grew its position in shares of Nordstrom by 46.2% in the 2nd quarter. Flippin Bruce & Porter Inc. now owns 112,227 shares of the specialty retailer’s stock valued at $5,368,000 after acquiring an additional 35,467 shares during the period. Twin Capital Management Inc. grew its position in shares of Nordstrom by 17.4% in the 2nd quarter. Twin Capital Management Inc. now owns 31,360 shares of the specialty retailer’s stock valued at $1,500,000 after acquiring an additional 4,650 shares during the period. Boston Private Wealth LLC bought a new position in shares of Nordstrom in the 1st quarter valued at about $492,000. Principal Financial Group Inc. grew its position in shares of Nordstrom by 168.7% in the 2nd quarter. Principal Financial Group Inc. now owns 1,831,138 shares of the specialty retailer’s stock valued at $87,584,000 after acquiring an additional 1,149,685 shares during the period. Finally, Scopus Asset Management L.P. grew its position in shares of Nordstrom by 50.0% in the 1st quarter. Scopus Asset Management L.P. now owns 600,000 shares of the specialty retailer’s stock valued at $27,942,000 after acquiring an additional 200,000 shares during the period. 63.14% of the stock is owned by institutional investors.
Shares of Nordstrom, Inc. (NYSE JWN) traded up 0.681% during trading on Friday, hitting $46.595. 401,117 shares of the stock traded hands. Nordstrom, Inc. has a 1-year low of $39.53 and a 1-year high of $62.82. The stock has a 50-day moving average of $45.72 and a 200 day moving average of $45.61. The company has a market cap of $7.75 billion, a P/E ratio of 22.072 and a beta of 0.82.
Nordstrom (NYSE:JWN) last released its quarterly earnings data on Thursday, August 10th. The specialty retailer reported $0.65 EPS for the quarter, beating analysts’ consensus estimates of $0.62 by $0.03. Nordstrom had a net margin of 2.44% and a return on equity of 71.57%. The company had revenue of $3.72 billion during the quarter, compared to analyst estimates of $3.70 billion. During the same period last year, the business earned $0.67 earnings per share. Nordstrom’s revenue was up 3.5% compared to the same quarter last year. On average, equities research analysts predict that Nordstrom, Inc. will post $2.98 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 12th. Stockholders of record on Monday, August 28th were given a $0.37 dividend. The ex-dividend date was Thursday, August 24th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 3.20%. Nordstrom’s dividend payout ratio (DPR) is currently 70.14%.
A number of research analysts have recently commented on the stock. Vetr downgraded 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 report on Wednesday, July 5th. Piper Jaffray Companies set a $42.00 price objective on shares of Nordstrom and gave the company a “hold” rating in a research report on Tuesday, July 25th. KeyCorp reissued an “overweight” rating and issued a $55.00 price objective on shares of Nordstrom in a research report on Thursday, September 14th. Royal Bank Of Canada set a $45.00 price objective on shares of Nordstrom and gave the company a “hold” rating in a research report on Monday, June 19th. Finally, J P Morgan Chase & Co reissued an “underweight” rating and issued a $48.00 price objective on shares of Nordstrom in a research report on Friday, July 14th. Four analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and eight have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $48.26.
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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