Steward Partners Investment Advisory LLC bought a new stake in shares of Nordstrom, Inc. (NYSE:JWN) during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 5,473 shares of the specialty retailer’s stock, valued at approximately $258,000.
A number of other institutional investors also recently added to or reduced their stakes in the business. San Francisco Sentry Investment Group CA grew its stake in shares of Nordstrom by 1,752.0% in the 3rd quarter. San Francisco Sentry Investment Group CA now owns 2,315 shares of the specialty retailer’s stock worth $109,000 after purchasing an additional 2,190 shares during the last quarter. Sei Investments Co. grew its stake in shares of Nordstrom by 32.0% in the 2nd quarter. Sei Investments Co. now owns 3,177 shares of the specialty retailer’s stock worth $152,000 after purchasing an additional 771 shares during the last quarter. Mosaic Family Wealth LLC grew its stake in shares of Nordstrom by 8.2% in the 2nd quarter. Mosaic Family Wealth LLC now owns 3,195 shares of the specialty retailer’s stock worth $153,000 after purchasing an additional 242 shares during the last quarter. Advisory Services Network LLC grew its stake in shares of Nordstrom by 41.8% in the 2nd quarter. Advisory Services Network LLC now owns 3,452 shares of the specialty retailer’s stock worth $165,000 after purchasing an additional 1,018 shares during the last quarter. Finally, Thrivent Financial For Lutherans acquired a new position in shares of Nordstrom in the 2nd quarter worth approximately $202,000. 57.58% of the stock is currently owned by hedge funds and other institutional investors.
Several brokerages have recently issued reports on JWN. Piper Jaffray Companies set a $45.00 price objective on shares of Nordstrom and gave the stock a “hold” rating in a research note on Wednesday. JPMorgan Chase & Co. upgraded shares of Nordstrom from an “underweight” rating to a “neutral” rating and raised their target price for the stock from $33.00 to $48.00 in a report on Tuesday, January 2nd. ValuEngine cut shares of Nordstrom from a “buy” rating to a “hold” rating in a report on Sunday, December 31st. Zacks Investment Research upgraded shares of Nordstrom from a “sell” rating to a “hold” rating in a report on Wednesday, December 27th. Finally, Robert W. Baird set a $49.00 price target on shares of Nordstrom and gave the stock a “hold” rating in a report on Friday, December 22nd. Three equities research analysts have rated the stock with a sell rating, eighteen have given a hold rating and seven have given a buy rating to the company’s stock. Nordstrom presently has a consensus rating of “Hold” and an average price target of $46.37.
Nordstrom (NYSE:JWN) last announced its earnings results on Thursday, November 9th. The specialty retailer reported $0.67 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.63 by $0.04. Nordstrom had a net margin of 3.25% and a return on equity of 67.44%. The business had revenue of $3.54 billion for the quarter, compared to analyst estimates of $3.50 billion. During the same quarter in the previous year, the firm posted $0.84 earnings per share. Nordstrom’s revenue was up 2.0% compared to the same quarter last year. equities analysts anticipate that Nordstrom, Inc. will post 2.96 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, December 12th. Investors of record on Monday, November 27th were given a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 2.95%. The ex-dividend date of this dividend was Friday, November 24th. Nordstrom’s dividend payout ratio (DPR) is currently 51.93%.
Nordstrom Company Profile
Nordstrom, Inc is a fashion specialty retailer in the United States. The Company’s segments include Retail and Credit. As of March 20, 2017, the Company operated 344 the United States stores located in 40 states as well as an e-commerce business. The Company also offers its customers a variety of payment products and services, including credit and debit cards.
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