Catalyst Capital Advisors LLC Invests $754,000 in Nordstrom, Inc. (JWN)
Catalyst Capital Advisors LLC acquired a new position in shares of Nordstrom, Inc. (NYSE:JWN) during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor acquired 12,600 shares of the specialty retailer’s stock, valued at approximately $754,000.
Several other hedge funds also recently made changes to their positions in JWN. IFM Investors Pty Ltd grew its stake in shares of Nordstrom by 36.3% in the second quarter. IFM Investors Pty Ltd now owns 5,670 shares of the specialty retailer’s stock worth $294,000 after purchasing an additional 1,511 shares during the last quarter. NN Investment Partners Holdings N.V. grew its stake in shares of Nordstrom by 12.1% in the second quarter. NN Investment Partners Holdings N.V. now owns 21,120 shares of the specialty retailer’s stock worth $1,094,000 after purchasing an additional 2,275 shares during the last quarter. Bank of Montreal Can bought a new stake in shares of Nordstrom in the second quarter worth about $50,353,000. Meag Munich Ergo Kapitalanlagegesellschaft MBH grew its stake in shares of Nordstrom by 80.6% in the second quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH now owns 30,091 shares of the specialty retailer’s stock worth $1,589,000 after purchasing an additional 13,431 shares during the last quarter. Finally, Prospera Financial Services Inc bought a new stake in shares of Nordstrom in the second quarter worth about $304,000. Institutional investors and hedge funds own 56.44% of the company’s stock.
In related news, insider Blake W. Nordstrom sold 127,251 shares of the business’s stock in a transaction that occurred on Thursday, September 20th. The shares were sold at an average price of $61.51, for a total value of $7,827,209.01. Following the completion of the transaction, the insider now directly owns 2,519,436 shares in the company, valued at approximately $154,970,508.36. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Christine Deputy sold 11,534 shares of the business’s stock in a transaction that occurred on Monday, September 10th. The stock was sold at an average price of $65.87, for a total transaction of $759,744.58. Following the completion of the transaction, the insider now owns 76,463 shares of the company’s stock, valued at $5,036,617.81. The disclosure for this sale can be found here. Insiders have sold 200,604 shares of company stock valued at $12,621,378 over the last quarter. Company insiders own 7.05% of the company’s stock.
JWN stock opened at $50.93 on Friday. Nordstrom, Inc. has a 52-week low of $40.32 and a 52-week high of $67.75. The company has a market cap of $10.30 billion, a PE ratio of 17.21, a price-to-earnings-growth ratio of 2.84 and a beta of 0.59. The company has a quick ratio of 0.54, a current ratio of 1.10 and a debt-to-equity ratio of 2.35.
Nordstrom (NYSE:JWN) last released its earnings results on Thursday, November 15th. The specialty retailer reported $0.67 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.64 by $0.03. Nordstrom had a net margin of 3.24% and a return on equity of 56.00%. The firm had revenue of $3.75 billion during the quarter, compared to analyst estimates of $3.68 billion. Sell-side analysts predict that Nordstrom, Inc. will post 3.59 EPS for the current year.
Nordstrom declared that its Board of Directors has authorized a share repurchase program on Wednesday, August 22nd that permits the company to repurchase $1.50 billion in shares. This repurchase authorization permits the specialty retailer to repurchase up to 14.4% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s leadership believes its shares are undervalued.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 11th. Stockholders of record on Monday, November 26th will be issued a dividend of $0.37 per share. The ex-dividend date of this dividend is Friday, November 23rd. This represents a $1.48 annualized dividend and a dividend yield of 2.91%. Nordstrom’s payout ratio is 50.00%.
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Nordstrom, Inc, a fashion retailer, provides apparel, shoes, cosmetics, and accessories for women, men, young adults, and children in the United States and Canada. The company operates in two segments, Retail and Credit. The Retail segment offers a range of brand name and private label merchandise through various channels, including Nordstrom branded full-line stores and online store at Nordstrom.com; Nordstrom Rack stores; Nordstromrack.com and HauteLook; Trunk Club clubhouses and TrunkClub.com; Jeffrey boutiques; and clearance stores that operate under the Last Chance name.
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