Nordstrom Inc. (JWN) to Issue Quarterly Dividend of $0.37
Nordstrom Inc. (NYSE:JWN) declared a quarterly dividend on Wednesday, November 16th. Investors of record on Monday, November 28th will be given a dividend of 0.37 per share on Tuesday, December 13th. This represents a $1.48 dividend on an annualized basis and a yield of 2.54%. The ex-dividend date is Wednesday, November 23rd.
Nordstrom (NYSE:JWN) opened at 58.30 on Thursday. Nordstrom has a 52-week low of $35.01 and a 52-week high of $62.82. The company’s 50-day moving average price is $53.52 and its 200-day moving average price is $46.51. The company has a market cap of $10.10 billion, a price-to-earnings ratio of 31.03 and a beta of 1.02.
Nordstrom (NYSE:JWN) last issued its quarterly earnings data on Thursday, November 10th. The company reported $0.84 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.52 by $0.32. Nordstrom had a return on equity of 58.85% and a net margin of 2.28%. The company had revenue of $3.47 billion for the quarter, compared to analysts’ expectations of $3.49 billion. During the same period in the previous year, the firm posted $0.57 earnings per share. The firm’s revenue for the quarter was up 7.2% on a year-over-year basis. Equities research analysts expect that Nordstrom will post $2.96 EPS for the current fiscal year.
Several brokerages have issued reports on JWN. BMO Capital Markets restated a “hold” rating on shares of Nordstrom in a research report on Monday. Zacks Investment Research upgraded Nordstrom from a “hold” rating to a “buy” rating and set a $66.00 target price for the company in a research report on Monday. Stifel Nicolaus set a $62.00 target price on Nordstrom and gave the company a “buy” rating in a research report on Friday, November 11th. Cowen and Company set a $64.00 target price on Nordstrom and gave the company a “buy” rating in a research report on Friday, November 11th. Finally, Bank of America Corp. set a $40.00 target price on Nordstrom and gave the company a “sell” rating in a research report on Friday, November 11th. Seven analysts have rated the stock with a sell rating, nineteen have given a hold rating and eight have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $49.16.
In related news, President Blake W. Nordstrom sold 42,847 shares of the firm’s stock in a transaction dated Monday, November 14th. The shares were sold at an average price of $60.00, for a total value of $2,570,820.00. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Daniel F. Little sold 5,270 shares of the firm’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 completion of the transaction, the insider now directly owns 68,216 shares in the company, valued at $3,683,664. The disclosure for this sale can be found here. Insiders own 7.03% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Cornerstone Advisors Inc. raised its position 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 worth $5,709,000 after buying an additional 150,000 shares in the last quarter. BlackRock Inc. raised its position in shares of Nordstrom by 35.5% in the second quarter. BlackRock Inc. now owns 332,201 shares of the company’s stock worth $12,641,000 after buying an additional 87,067 shares in the last quarter. BlackRock Group LTD raised its position in shares of Nordstrom by 4.5% in the second quarter. BlackRock Group LTD now owns 1,148,964 shares of the company’s stock worth $43,717,000 after buying an additional 49,065 shares in the last quarter. BlackRock Institutional Trust Company N.A. raised its position in shares of Nordstrom by 4.3% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 3,861,213 shares of the company’s stock worth $146,919,000 after buying an additional 160,682 shares in the last quarter. Finally, US Bancorp DE raised its position in shares of Nordstrom by 6.4% in the second quarter. US Bancorp DE now owns 110,172 shares of the company’s stock worth $4,192,000 after buying an additional 6,595 shares in the last quarter. 66.50% of the stock is currently owned by hedge funds and other institutional investors.
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.
Receive News & Stock Ratings for Nordstrom Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Nordstrom Inc. and related stocks with our FREE daily email newsletter.