Prudential Financial Inc. raised its position in shares of Nordstrom Inc. (NYSE:JWN) by 9.0% during the second quarter, Holdings Channel reports. The institutional investor owned 176,060 shares of the company’s stock after buying an additional 14,512 shares during the period. Prudential Financial Inc. owned about 0.10% of Nordstrom worth $6,699,000 as of its most recent filing with the SEC.
Several other institutional investors have also modified their holdings of JWN. Evercore Wealth Management LLC increased its position in shares of Nordstrom by 9.1% in the second quarter. Evercore Wealth Management LLC now owns 2,779 shares of the company’s stock worth $106,000 after buying an additional 231 shares in the last quarter. Synovus Financial Corp increased its position in shares of Nordstrom by 66.1% in the second quarter. Synovus Financial Corp now owns 3,046 shares of the company’s stock worth $116,000 after buying an additional 1,212 shares in the last quarter. Trust Co increased its position in shares of Nordstrom by 9.6% in the first quarter. Trust Co now owns 5,130 shares of the company’s stock worth $293,000 after buying an additional 450 shares in the last quarter. Rothschild Investment Corp IL acquired a new position in shares of Nordstrom during the second quarter worth approximately $217,000. Finally, Ken Stern & Associates Inc. increased its position in shares of Nordstrom by 2.1% in the second quarter. Ken Stern & Associates Inc. now owns 6,454 shares of the company’s stock worth $246,000 after buying an additional 130 shares in the last quarter. 65.48% of the stock is currently owned by institutional investors and hedge funds.
Nordstrom Inc. (NYSE:JWN) opened at 54.83 on Monday. Nordstrom Inc. has a 52 week low of $35.01 and a 52 week high of $69.54. The stock has a 50 day moving average of $51.40 and a 200 day moving average of $46.51. The firm has a market cap of $9.51 billion, a PE ratio of 23.36 and a beta of 1.04.
Nordstrom (NYSE:JWN) last posted its earnings results on Thursday, August 11th. The company reported $0.67 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.56 by $0.11. Nordstrom had a net margin of 2.95% and a return on equity of 47.22%. The business had revenue of $3.65 billion for the quarter, compared to analyst estimates of $3.67 billion. During the same quarter in the prior year, the firm earned $0.93 EPS. The firm’s quarterly revenue was down .2% compared to the same quarter last year. Analysts anticipate that Nordstrom Inc. will post $2.73 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, September 13th. Stockholders of record on Monday, August 29th were issued a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 2.70%. The ex-dividend date of this dividend was Thursday, August 25th. Nordstrom’s payout ratio is 62.98%.
A number of equities analysts have recently commented on the stock. Stifel Nicolaus raised their target price on shares of Nordstrom from $44.00 to $58.00 and gave the company a “buy” rating in a research note on Friday, August 12th. Vetr raised shares of Nordstrom from a “hold” rating to a “buy” rating and set a $47.50 target price on the stock in a research note on Tuesday, July 26th. Telsey Advisory Group raised their target price on shares of Nordstrom from $40.00 to $53.00 and gave the company a “market perform” rating in a research note on Friday, August 12th. Credit Suisse Group AG reissued a “hold” rating and issued a $40.00 target price on shares of Nordstrom in a research note on Friday, August 12th. Finally, Royal Bank Of Canada raised their price target on shares of Nordstrom from $38.00 to $47.00 and gave the company a “sector perform” rating in a report on Monday, August 15th. Seven analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and eight have issued a buy rating to the stock. Nordstrom presently has an average rating of “Hold” and an average target price of $47.23.
In related news, insider Daniel F. Little sold 5,270 shares of the company’s stock in a transaction dated Thursday, October 6th. The shares were sold at an average price of $54.00, for a total transaction of $284,580.00. Following the transaction, the insider now owns 68,216 shares in the company, valued at approximately $3,683,664. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Daniel F. Little sold 12,770 shares of the company’s stock in a transaction dated Wednesday, October 5th. The stock was sold at an average price of $53.00, for a total transaction of $676,810.00. The disclosure for this sale can be found here. 7.03% of the stock is currently owned by insiders.
Nordstrom Company Profile
Nordstrom, Inc is a fashion specialty retailer in the United States. The company operates through two segments: Retail and Credit. The Retail segment includes approximately 115 Nordstrom branded full-line stores in the United States and Nordstrom.com, approximately 167 off-price Nordstrom Rack stores, two Canada full-line stores, Nordstromrack.com and HauteLook, and other retail channels, including five Trunk Club showrooms and TrunkClub.com, its two Jeffrey boutiques and one clearance store that operates under the name Last Chance.
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