Charles Schwab Investment Management Inc. raised its position in shares of Nordstrom, Inc. (NYSE:JWN - Free Report) by 20.4% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,712,452 shares of the specialty retailer's stock after purchasing an additional 289,596 shares during the period. Charles Schwab Investment Management Inc. owned approximately 1.04% of Nordstrom worth $41,356,000 at the end of the most recent reporting period.
Several other hedge funds have also recently added to or reduced their stakes in the company. Quantinno Capital Management LP raised its holdings in shares of Nordstrom by 49.3% during the 3rd quarter. Quantinno Capital Management LP now owns 145,146 shares of the specialty retailer's stock valued at $3,264,000 after buying an additional 47,923 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of Nordstrom by 29.7% during the third quarter. JPMorgan Chase & Co. now owns 388,796 shares of the specialty retailer's stock worth $8,744,000 after acquiring an additional 89,114 shares in the last quarter. Point72 Asset Management L.P. lifted its holdings in shares of Nordstrom by 190.1% in the 3rd quarter. Point72 Asset Management L.P. now owns 59,678 shares of the specialty retailer's stock worth $1,342,000 after acquiring an additional 39,104 shares during the last quarter. Sanctuary Advisors LLC boosted its stake in shares of Nordstrom by 160.9% in the 3rd quarter. Sanctuary Advisors LLC now owns 51,071 shares of the specialty retailer's stock valued at $1,187,000 after purchasing an additional 31,498 shares in the last quarter. Finally, Avior Wealth Management LLC purchased a new stake in shares of Nordstrom in the 4th quarter valued at $415,000. Institutional investors own 88.73% of the company's stock.
Nordstrom Trading Up 0.2 %
NYSE JWN traded up $0.06 during trading on Wednesday, hitting $24.30. The company had a trading volume of 970,377 shares, compared to its average volume of 2,438,984. The company's fifty day moving average is $24.25 and its 200-day moving average is $23.47. Nordstrom, Inc. has a one year low of $17.20 and a one year high of $24.99. The company has a current ratio of 1.14, a quick ratio of 0.35 and a debt-to-equity ratio of 2.65. The company has a market cap of $4.01 billion, a price-to-earnings ratio of 15.47 and a beta of 2.60.
Nordstrom (NYSE:JWN - Get Free Report) last released its quarterly earnings results on Tuesday, March 4th. The specialty retailer reported $1.10 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.90 by $0.20. The company had revenue of $4.32 billion during the quarter, compared to the consensus estimate of $4.32 billion. Nordstrom had a negative net margin of 1.57% and a negative return on equity of 18.04%. On average, sell-side analysts predict that Nordstrom, Inc. will post 1.97 earnings per share for the current year.
Nordstrom Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 26th. Investors of record on Tuesday, March 11th will be given a dividend of $0.19 per share. The ex-dividend date is Tuesday, March 11th. This represents a $0.76 annualized dividend and a dividend yield of 3.13%. Nordstrom's dividend payout ratio is presently 44.19%.
Wall Street Analyst Weigh In
A number of equities analysts recently commented on JWN shares. Argus cut shares of Nordstrom from a "buy" rating to a "sell" rating in a research report on Monday, December 30th. Telsey Advisory Group reissued a "market perform" rating and issued a $24.00 target price on shares of Nordstrom in a research note on Wednesday, March 5th. UBS Group upgraded Nordstrom from a "sell" rating to a "neutral" rating and raised their price target for the stock from $14.50 to $24.00 in a research report on Friday, January 10th. Citigroup boosted their price objective on Nordstrom from $22.00 to $23.00 and gave the company a "neutral" rating in a research report on Tuesday, November 19th. Finally, Bank of America raised their target price on shares of Nordstrom from $20.00 to $22.00 and gave the stock an "underperform" rating in a report on Wednesday, November 27th. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $22.90.
Get Our Latest Stock Report on Nordstrom
About Nordstrom
(
Free Report)
Nordstrom, Inc, a fashion retailer, provides apparels, shoes, beauty, accessories, and home goods for women, men, young adults, and children. It offers a range of brand-name and private-label merchandise through various channels, such as Nordstrom branded stores and online at Nordstrom.com; Nordstrom.ca; Nordstrom stores; Nordstrom Rack stores; Nordstrom Locals; ASOS; Nordstromrack.com; mobile application; and clearance stores under the Last Chance name.
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