Great Lakes Advisors LLC purchased a new stake in shares of Nordstrom, Inc. (NYSE:JWN - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 900,041 shares of the specialty retailer's stock, valued at approximately $21,736,000. Great Lakes Advisors LLC owned approximately 0.55% of Nordstrom at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Janney Montgomery Scott LLC boosted its position in Nordstrom by 314.8% in the 3rd quarter. Janney Montgomery Scott LLC now owns 55,316 shares of the specialty retailer's stock valued at $1,244,000 after buying an additional 41,981 shares during the last quarter. Crossmark Global Holdings Inc. bought a new position in Nordstrom in the 3rd quarter valued at $835,000. State of New Jersey Common Pension Fund D boosted its position in Nordstrom by 5.9% in the 3rd quarter. State of New Jersey Common Pension Fund D now owns 91,536 shares of the specialty retailer's stock valued at $2,059,000 after buying an additional 5,072 shares during the last quarter. Venturi Wealth Management LLC boosted its position in Nordstrom by 355.9% in the 3rd quarter. Venturi Wealth Management LLC now owns 1,272 shares of the specialty retailer's stock valued at $29,000 after buying an additional 993 shares during the last quarter. Finally, GSA Capital Partners LLP bought a new position in Nordstrom in the 3rd quarter valued at $1,447,000. 88.73% of the stock is owned by institutional investors and hedge funds.
Nordstrom Trading Down 0.8 %
Shares of NYSE:JWN opened at $24.24 on Wednesday. The stock has a market cap of $4.00 billion, a PE ratio of 15.44 and a beta of 2.60. Nordstrom, Inc. has a 12-month low of $16.78 and a 12-month high of $24.99. The business has a 50 day moving average of $24.25 and a 200-day moving average of $23.39. The company has a quick ratio of 0.35, a current ratio of 1.14 and a debt-to-equity ratio of 2.65.
Nordstrom (NYSE:JWN - Get Free Report) last posted its quarterly earnings data on Tuesday, March 4th. The specialty retailer reported $1.10 earnings per share for the quarter, beating analysts' consensus estimates of $0.90 by $0.20. The business had revenue of $4.32 billion during the quarter, compared to the consensus estimate of $4.32 billion. Nordstrom had a negative return on equity of 18.04% and a negative net margin of 1.57%. As a group, equities research analysts forecast 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. Shareholders of record on Tuesday, March 11th will be given a dividend of $0.19 per share. The ex-dividend date of this dividend is Tuesday, March 11th. This represents a $0.76 dividend on an annualized basis and a yield of 3.14%. Nordstrom's dividend payout ratio (DPR) is currently 44.19%.
Analyst Upgrades and Downgrades
A number of research analysts have commented on the company. Evercore ISI increased their price objective on Nordstrom from $22.00 to $24.00 and gave the company an "in-line" rating in a research report on Monday, January 13th. StockNews.com began coverage on Nordstrom in a research report on Friday, March 7th. They issued a "buy" rating on the stock. Citigroup raised their price target on Nordstrom from $22.00 to $23.00 and gave the stock a "neutral" rating in a research report on Tuesday, November 19th. Bank of America raised their price target on Nordstrom from $20.00 to $22.00 and gave the stock an "underperform" rating in a research report on Wednesday, November 27th. Finally, Argus lowered Nordstrom from a "buy" rating to a "sell" rating in a research report on Monday, December 30th. Three analysts have rated the stock with a sell rating, nine have issued a hold rating and one has given a buy rating to the company's stock. According to data from MarketBeat.com, Nordstrom has an average rating of "Hold" and an average target price of $22.90.
View Our Latest Stock Report on JWN
Nordstrom Company Profile
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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.
See Also
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