State of Wisconsin Investment Board Sells 6,240 Shares of Nordstrom Inc. (JWN)
State of Wisconsin Investment Board cut its stake in Nordstrom Inc. (NYSE:JWN) by 7.3% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 78,906 shares of the company’s stock after selling 6,240 shares during the period. State of Wisconsin Investment Board’s holdings in Nordstrom were worth $4,094,000 at the end of the most recent reporting period.
A number of other large investors have also recently modified their holdings of JWN. Bank of Montreal Can bought a new stake in Nordstrom during the second quarter worth approximately $111,916,000. Vanguard Group Inc. boosted its stake in Nordstrom by 16.4% in the second quarter. Vanguard Group Inc. now owns 13,840,222 shares of the company’s stock worth $526,621,000 after buying an additional 1,945,151 shares in the last quarter. Hotchkis & Wiley Capital Management LLC boosted its stake in Nordstrom by 34.9% in the second quarter. Hotchkis & Wiley Capital Management LLC now owns 3,594,094 shares of the company’s stock worth $136,755,000 after buying an additional 929,597 shares in the last quarter. Schroder Investment Management Group boosted its stake in Nordstrom by 155.1% in the second quarter. Schroder Investment Management Group now owns 1,422,588 shares of the company’s stock worth $54,129,000 after buying an additional 864,908 shares in the last quarter. Finally, TIAA CREF Investment Management LLC boosted its stake in Nordstrom by 113.4% in the second quarter. TIAA CREF Investment Management LLC now owns 1,485,948 shares of the company’s stock worth $56,540,000 after buying an additional 789,558 shares in the last quarter. 66.18% of the stock is currently owned by institutional investors.
Shares of Nordstrom Inc. (NYSE:JWN) traded down 3.09% during trading on Monday, hitting $56.06. The stock had a trading volume of 4,388,517 shares. The firm’s 50-day moving average is $54.61 and its 200 day moving average is $46.88. The firm has a market cap of $9.71 billion, a price-to-earnings ratio of 29.84 and a beta of 1.02. Nordstrom Inc. has a 52-week low of $35.01 and a 52-week high of $62.82.
Nordstrom (NYSE:JWN) last released its quarterly earnings results on Thursday, November 10th. The company reported $0.84 earnings per share for the quarter, topping analysts’ consensus estimates of $0.52 by $0.32. The company earned $3.47 billion during the quarter, compared to analysts’ expectations of $3.49 billion. Nordstrom had a return on equity of 58.85% and a net margin of 2.28%. Nordstrom’s quarterly revenue was up 7.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.57 EPS. On average, analysts expect that Nordstrom Inc. will post $2.96 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 13th. Investors of record on Monday, November 28th will be issued a $0.37 dividend. The ex-dividend date of this dividend is Wednesday, November 23rd. This represents a $1.48 dividend on an annualized basis and a yield of 2.56%. Nordstrom’s payout ratio is 79.14%.
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Several equities research analysts recently commented on JWN shares. Cowen and Company reaffirmed an “outperform” rating and set a $55.00 price objective on shares of Nordstrom in a research report on Monday, August 29th. Stifel Nicolaus reaffirmed a “buy” rating and set a $58.00 price objective on shares of Nordstrom in a research report on Tuesday, September 13th. Vetr raised Nordstrom from a “strong sell” rating to a “sell” rating and set a $46.00 price objective on the stock in a research report on Wednesday, August 31st. Guggenheim started coverage on Nordstrom in a research report on Friday, September 30th. They set a “buy” rating and a $60.00 price objective on the stock. Finally, Piper Jaffray Cos. reaffirmed an “overweight” rating and set a $56.00 price objective (up from $53.00) on shares of Nordstrom in a research report on Wednesday, August 10th. Seven equities research analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and eight have issued a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $49.16.
In other Nordstrom news, President Blake W. Nordstrom sold 42,847 shares of the stock in a transaction that occurred on Monday, November 14th. The stock was sold at an average price of $60.00, for a total transaction of $2,570,820.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Enrique Hernandez, Jr. sold 24,534 shares of the stock in a transaction that occurred on Wednesday, November 23rd. The shares were sold at an average price of $58.38, for a total value of $1,432,294.92. Following the transaction, the director now directly owns 3,772 shares of the company’s stock, valued at approximately $220,209.36. The disclosure for this sale can be found here. 7.03% of the stock is owned by corporate 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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