Charles Schwab Investment Management Inc. Boosts Stake in Nordstrom, Inc. (NYSE:JWN)

Charles Schwab Investment Management Inc. raised its holdings in Nordstrom, Inc. (NYSE:JWN - Free Report) by 17.1% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,422,856 shares of the specialty retailer's stock after purchasing an additional 208,193 shares during the quarter. Charles Schwab Investment Management Inc. owned 0.87% of Nordstrom worth $32,000,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently bought and sold shares of the business. American Century Companies Inc. lifted its holdings in Nordstrom by 66.2% during the 2nd quarter. American Century Companies Inc. now owns 1,661,227 shares of the specialty retailer's stock worth $35,251,000 after purchasing an additional 661,769 shares in the last quarter. Marshall Wace LLP grew its position in Nordstrom by 38.4% during the 2nd quarter. Marshall Wace LLP now owns 1,479,414 shares of the specialty retailer's stock worth $31,393,000 after acquiring an additional 410,152 shares during the last quarter. NewSquare Capital LLC bought a new position in Nordstrom during the 2nd quarter worth approximately $7,783,000. Axiom Advisory LLC grew its position in shares of Nordstrom by 46.0% in the 3rd quarter. Axiom Advisory LLC now owns 1,100,864 shares of the specialty retailer's stock worth $24,456,000 after buying an additional 346,994 shares during the last quarter. Finally, Ceredex Value Advisors LLC bought a new stake in shares of Nordstrom in the 2nd quarter worth approximately $7,310,000. Institutional investors own 88.73% of the company's stock.

Analyst Ratings Changes

A number of research analysts have recently commented on JWN shares. UBS Group raised their target price on Nordstrom from $13.00 to $14.50 and gave the company a "sell" rating in a research note on Wednesday, November 27th. Citigroup lifted their target price on Nordstrom from $22.00 to $23.00 and gave the stock a "neutral" rating in a report on Tuesday, November 19th. BMO Capital Markets lifted their target price on Nordstrom from $20.00 to $22.00 and gave the stock a "market perform" rating in a report on Wednesday, August 28th. Barclays raised Nordstrom from an "underweight" rating to an "equal weight" rating and lifted their target price for the stock from $18.00 to $23.00 in a report on Thursday, September 5th. Finally, The Goldman Sachs Group lifted their target price on Nordstrom from $19.00 to $21.00 and gave the stock a "neutral" rating in a report on Wednesday, August 28th. Three research analysts have rated the stock with a sell rating, ten have issued a hold rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, Nordstrom currently has a consensus rating of "Hold" and an average target price of $21.29.

Insider Buying and Selling

In other Nordstrom news, COO Alexis Depree sold 20,000 shares of the company's stock in a transaction that occurred on Tuesday, September 24th. The stock was sold at an average price of $23.20, for a total transaction of $464,000.00. Following the sale, the chief operating officer now directly owns 169,331 shares in the company, valued at $3,928,479.20. This represents a 10.56 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. 5.78% of the stock is owned by company insiders.

Nordstrom Price Performance

Shares of Nordstrom stock traded up $0.81 during trading hours on Wednesday, hitting $23.99. The company's stock had a trading volume of 2,189,327 shares, compared to its average volume of 3,057,234. The business has a 50 day moving average price of $22.85 and a two-hundred day moving average price of $22.28. Nordstrom, Inc. has a 12-month low of $15.08 and a 12-month high of $24.99. The company has a market cap of $3.94 billion, a PE ratio of 14.92 and a beta of 2.56. The company has a debt-to-equity ratio of 2.65, a quick ratio of 0.35 and a current ratio of 1.14.

Nordstrom (NYSE:JWN - Get Free Report) last announced its quarterly earnings data on Tuesday, November 26th. The specialty retailer reported $0.33 EPS for the quarter, beating the consensus estimate of $0.22 by $0.11. Nordstrom had a negative return on equity of 18.04% and a negative net margin of 1.57%. The business had revenue of $3.35 billion for the quarter, compared to the consensus estimate of $3.34 billion. During the same period in the previous year, the business earned $0.25 earnings per share. The business's revenue was up 4.6% on a year-over-year basis. Analysts expect that Nordstrom, Inc. will post 1.93 earnings per share for the current fiscal year.

Nordstrom Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Tuesday, December 3rd will be given a $0.19 dividend. The ex-dividend date of this dividend is Tuesday, December 3rd. This represents a $0.76 dividend on an annualized basis and a dividend yield of 3.17%. Nordstrom's dividend payout ratio is currently 48.41%.

Nordstrom Company Profile

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.