Concert Wealth Management Inc. raised its stake in shares of Nordstrom Inc. (NYSE:JWN) by 5.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 13,975 shares of the company’s stock after buying an additional 775 shares during the period. Concert Wealth Management Inc.’s holdings in Nordstrom were worth $532,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also bought and sold shares of JWN. Bank of Montreal Can purchased a new stake in shares of Nordstrom during the second quarter valued at $111,916,000. Wellington Management Group LLP increased its stake in shares of Nordstrom by 38.1% in the first quarter. Wellington Management Group LLP now owns 2,972,301 shares of the company’s stock valued at $170,046,000 after buying an additional 819,877 shares in the last quarter. Adage Capital Partners GP L.L.C. purchased a new stake in shares of Nordstrom during the first quarter valued at $11,802,000. Panagora Asset Management Inc. increased its stake in shares of Nordstrom by 1,388.0% in the first quarter. Panagora Asset Management Inc. now owns 187,729 shares of the company’s stock valued at $10,740,000 after buying an additional 175,113 shares in the last quarter. Finally, Cornerstone Advisors Inc. increased its stake in shares of Nordstrom by 416,666.7% in the second quarter. Cornerstone Advisors Inc. now owns 150,036 shares of the company’s stock valued at $5,709,000 after buying an additional 150,000 shares in the last quarter. 65.48% of the stock is owned by institutional investors and hedge funds.
Shares of Nordstrom Inc. (NYSE:JWN) traded up 0.74% during mid-day trading on Wednesday, hitting $54.54. 1,185,445 shares of the stock were exchanged. Nordstrom Inc. has a 12-month low of $35.01 and a 12-month high of $69.54. The company has a market capitalization of $9.46 billion, a PE ratio of 23.24 and a beta of 1.04. The firm has a 50-day moving average price of $51.51 and a 200 day moving average price of $46.41.
Nordstrom (NYSE:JWN) last announced its earnings results on Thursday, August 11th. The company reported $0.67 EPS for the quarter, topping the consensus estimate of $0.56 by $0.11. The firm had revenue of $3.65 billion for the quarter, compared to the consensus estimate of $3.67 billion. Nordstrom had a net margin of 2.95% and a return on equity of 47.22%. The business’s quarterly revenue was down .2% on a year-over-year basis. During the same period last year, the company posted $0.93 EPS. On average, equities research analysts expect that Nordstrom Inc. will post $2.73 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, September 13th. Shareholders of record on Monday, August 29th were issued a dividend of $0.37 per share. The ex-dividend date was Thursday, August 25th. This represents a $1.48 annualized dividend and a yield of 2.73%. Nordstrom’s dividend payout ratio (DPR) is currently 62.98%.
Several analysts recently weighed in on the stock. Credit Suisse Group AG reiterated a “hold” rating and issued a $40.00 price objective on shares of Nordstrom in a research report on Friday, August 12th. Piper Jaffray Cos. restated a “neutral” rating and set a $45.00 price target on shares of Nordstrom in a research report on Monday, July 11th. Royal Bank Of Canada boosted their price target on shares of Nordstrom from $38.00 to $47.00 and gave the stock a “sector perform” rating in a research report on Monday, August 15th. Vetr downgraded shares of Nordstrom from a “buy” rating to a “hold” rating and set a $43.19 price target on the stock. in a research report on Wednesday, July 13th. Finally, Maxim Group initiated coverage on shares of Nordstrom in a research report on Wednesday, June 15th. They set a “buy” rating and a $50.00 price target on the stock. Seven analysts have rated the stock with a sell rating, eighteen have given a hold rating and eight have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $47.23.
In other Nordstrom news, insider Daniel F. Little sold 5,270 shares of the firm’s stock in a transaction that occurred on Friday, September 23rd. The shares were sold at an average price of $52.00, for a total transaction of $274,040.00. Following the sale, the insider now directly owns 68,088 shares in the company, valued at approximately $3,540,576. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Daniel F. Little sold 5,277 shares of the firm’s stock in a transaction that occurred on Friday, October 7th. The stock was sold at an average price of $55.00, for a total transaction of $290,235.00. Following the sale, the insider now owns 68,223 shares in the company, valued at $3,752,265. The disclosure for this sale can be found here. Company insiders own 7.03% of the company’s stock.
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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