Edge Advisors LLC Boosts Holdings in Nordstrom, Inc. (JWN)
Edge Advisors LLC grew its holdings in Nordstrom, Inc. (NYSE:JWN) by 26.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 149,538 shares of the specialty retailer’s stock after acquiring an additional 31,014 shares during the period. Edge Advisors LLC owned about 0.09% of Nordstrom worth $7,050,000 as of its most recent filing with the Securities & Exchange Commission.
Several other large investors have also bought and sold shares of the business. Dynamic Technology Lab Private Ltd acquired a new position in shares of Nordstrom in the third quarter worth $488,000. Macquarie Group Ltd. grew its stake in shares of Nordstrom by 65.8% in the third quarter. Macquarie Group Ltd. now owns 5,797 shares of the specialty retailer’s stock worth $273,000 after acquiring an additional 2,300 shares in the last quarter. Ameriprise Financial Inc. grew its stake in shares of Nordstrom by 596.9% in the third quarter. Ameriprise Financial Inc. now owns 779,081 shares of the specialty retailer’s stock worth $36,734,000 after acquiring an additional 667,296 shares in the last quarter. SG Americas Securities LLC grew its stake in shares of Nordstrom by 1,437.6% in the third quarter. SG Americas Securities LLC now owns 49,097 shares of the specialty retailer’s stock worth $2,315,000 after acquiring an additional 45,904 shares in the last quarter. Finally, Quantbot Technologies LP grew its stake in shares of Nordstrom by 32.1% in the third quarter. Quantbot Technologies LP now owns 32,010 shares of the specialty retailer’s stock worth $1,509,000 after acquiring an additional 7,787 shares in the last quarter. Institutional investors and hedge funds own 60.69% of the company’s stock.
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A number of brokerages recently commented on JWN. Piper Jaffray Companies set a $42.00 target price on shares of Nordstrom and gave the stock a “hold” rating in a research note on Tuesday, July 25th. KeyCorp reiterated an “overweight” rating and set a $55.00 target price on shares of Nordstrom in a research note on Thursday, September 14th. Credit Suisse Group reiterated a “buy” rating and set a $52.00 target price on shares of Nordstrom in a research note on Thursday, August 10th. Zacks Investment Research upgraded shares of Nordstrom from a “hold” rating to a “buy” rating and set a $53.00 target price for the company in a research note on Thursday, August 10th. Finally, ValuEngine downgraded shares of Nordstrom from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. Five equities research analysts have rated the stock with a sell rating, sixteen have given a hold rating and seven have assigned a buy rating to the company’s stock. Nordstrom currently has a consensus rating of “Hold” and an average price target of $45.33.
Shares of Nordstrom, Inc. (JWN) traded up $0.89 during trading hours on Monday, hitting $40.86. 2,346,800 shares of the stock were exchanged, compared to its average volume of 2,914,207. Nordstrom, Inc. has a 1-year low of $37.79 and a 1-year high of $61.85. The company has a quick ratio of 0.30, a current ratio of 1.00 and a debt-to-equity ratio of 3.14. The stock has a market capitalization of $6,720.00, a PE ratio of 13.10, a price-to-earnings-growth ratio of 2.31 and a beta of 0.84.
Nordstrom (NYSE:JWN) last announced its earnings results on Thursday, November 9th. The specialty retailer reported $0.67 EPS for the quarter, beating analysts’ consensus estimates of $0.63 by $0.04. The business had revenue of $3.54 billion during the quarter, compared to analysts’ expectations of $3.50 billion. Nordstrom had a net margin of 3.25% and a return on equity of 67.44%. The business’s revenue was up 2.0% compared to the same quarter last year. During the same period in the prior year, the company earned $0.84 earnings per share. equities research analysts forecast that Nordstrom, Inc. will post 2.95 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 12th. Investors of record on Monday, November 27th will be issued a dividend of $0.37 per share. The ex-dividend date is Friday, November 24th. This represents a $1.48 annualized dividend and a yield of 3.62%. Nordstrom’s dividend payout ratio is currently 51.93%.
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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