American International Group Inc. boosted its stake in shares of Nordstrom, Inc. (NYSE:JWN) by 12.4% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 63,332 shares of the specialty retailer’s stock after purchasing an additional 7,004 shares during the period. American International Group Inc.’s holdings in Nordstrom were worth $2,952,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Geode Capital Management LLC boosted its stake in shares of Nordstrom by 5.1% during the 4th quarter. Geode Capital Management LLC now owns 1,650,673 shares of the specialty retailer’s stock worth $76,815,000 after acquiring an additional 80,459 shares in the last quarter. Captrust Financial Advisors boosted its stake in shares of Nordstrom by 19.1% during the 4th quarter. Captrust Financial Advisors now owns 2,499 shares of the specialty retailer’s stock worth $116,000 after acquiring an additional 400 shares in the last quarter. Kinneret Advisory LLC purchased a new stake in shares of Nordstrom during the 4th quarter worth about $328,000. White Pine Capital LLC boosted its stake in shares of Nordstrom by 5.7% during the 4th quarter. White Pine Capital LLC now owns 18,630 shares of the specialty retailer’s stock worth $868,000 after acquiring an additional 1,000 shares in the last quarter. Finally, California State Teachers Retirement System boosted its stake in shares of Nordstrom by 1.7% during the 4th quarter. California State Teachers Retirement System now owns 198,126 shares of the specialty retailer’s stock worth $9,235,000 after acquiring an additional 3,348 shares in the last quarter. 65.97% of the stock is currently owned by institutional investors.
Several research firms have recently issued reports on JWN. Zacks Investment Research lowered shares of Nordstrom from a “buy” rating to a “hold” rating in a research note on Tuesday, December 18th. Gordon Haskett lowered shares of Nordstrom from a “hold” rating to an “underperform” rating and set a $43.00 price target on the stock. in a research note on Thursday, March 21st. TheStreet lowered shares of Nordstrom from a “b-” rating to a “c+” rating in a research note on Tuesday, January 8th. Citigroup raised their price target on shares of Nordstrom from $45.00 to $48.00 and gave the company a “neutral” rating in a research note on Friday, March 1st. Finally, Wolfe Research reaffirmed a “peer perform” rating and issued a $44.00 price target (down from $53.00) on shares of Nordstrom in a research note on Thursday, January 17th. Four investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and five have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $52.08.
Nordstrom (NYSE:JWN) last released its quarterly earnings data on Thursday, February 28th. The specialty retailer reported $1.48 EPS for the quarter, beating the Zacks’ consensus estimate of $1.42 by $0.06. Nordstrom had a net margin of 3.56% and a return on equity of 57.14%. During the same period in the prior year, the business posted $1.20 earnings per share. On average, sell-side analysts expect that Nordstrom, Inc. will post 3.76 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 26th. Shareholders of record on Monday, March 11th will be issued a $0.37 dividend. The ex-dividend date of this dividend is Friday, March 8th. This represents a $1.48 dividend on an annualized basis and a yield of 3.40%. Nordstrom’s payout ratio is 41.69%.
In other Nordstrom news, insider Erik B. Nordstrom sold 1,169 shares of the stock in a transaction dated Monday, February 25th. The shares were sold at an average price of $44.70, for a total value of $52,254.30. Following the completion of the sale, the insider now owns 2,671,406 shares in the company, valued at approximately $119,411,848.20. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Erik B. Nordstrom sold 17,762 shares of the stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $44.07, for a total transaction of $782,771.34. Following the completion of the sale, the insider now owns 2,653,314 shares of the company’s stock, valued at approximately $116,931,547.98. The disclosure for this sale can be found here. In the last quarter, insiders sold 32,055 shares of company stock valued at $1,394,239. 7.05% of the stock is owned by insiders.
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Nordstrom, Inc, a fashion retailer, provides apparel, shoes, cosmetics, and accessories for women, men, young adults, and children. The company operates in two segments, Retail and Credit. The Retail segment offers a range of brand name and private label merchandise through various channels, including Nordstrom branded full-line stores and online store at Nordstrom.com; Nordstrom Rack stores; Nordstromrack.com and HauteLook; Trunk Club clubhouses and TrunkClub.com; Jeffrey boutiques; and clearance stores that operate under the Last Chance name.
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