Aperio Group LLC Acquires 16,950 Shares of Nordstrom Inc. (JWN)
Aperio Group LLC raised its stake in Nordstrom Inc. (NYSE:JWN) by 21.7% during the third quarter, according to its most recent disclosure with the SEC. The firm owned 95,137 shares of the company’s stock after buying an additional 16,950 shares during the period. Aperio Group LLC owned approximately 0.05% of Nordstrom worth $4,936,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Bank of New York Mellon Corp boosted its position in shares of Nordstrom by 5.6% in the second quarter. Bank of New York Mellon Corp now owns 7,853,110 shares of the company’s stock valued at $298,811,000 after buying an additional 414,860 shares during the last quarter. Douglas Lane & Associates LLC boosted its position in shares of Nordstrom by 9.2% in the second quarter. Douglas Lane & Associates LLC now owns 534,836 shares of the company’s stock valued at $20,351,000 after buying an additional 45,208 shares during the last quarter. Nuveen Asset Management LLC boosted its position in shares of Nordstrom by 3.2% in the first quarter. Nuveen Asset Management LLC now owns 21,013 shares of the company’s stock valued at $1,202,000 after buying an additional 646 shares during the last quarter. Washington Trust Bank boosted its position in shares of Nordstrom by 40.6% in the second quarter. Washington Trust Bank now owns 28,899 shares of the company’s stock valued at $1,100,000 after buying an additional 8,343 shares during the last quarter. Finally, Tufton Capital Management boosted its position in shares of Nordstrom by 63.0% in the second quarter. Tufton Capital Management now owns 112,748 shares of the company’s stock valued at $4,290,000 after buying an additional 43,580 shares during the last quarter. Institutional investors and hedge funds own 66.18% of the company’s stock.
Nordstrom Inc. (NYSE:JWN) traded up 0.52% during mid-day trading on Tuesday, hitting $56.35. The stock had a trading volume of 2,844,528 shares. Nordstrom Inc. has a 12 month low of $35.01 and a 12 month high of $62.82. The stock’s 50-day moving average price is $54.65 and its 200-day moving average price is $46.96. The stock has a market cap of $9.76 billion, a price-to-earnings ratio of 29.99 and a beta of 1.02.
Nordstrom (NYSE:JWN) last posted its quarterly earnings results on Thursday, November 10th. The company reported $0.84 EPS for the quarter, topping the Zacks’ 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 earned $0.57 EPS. The firm’s revenue was up 7.2% compared to the same quarter last year. On average, analysts predict that Nordstrom Inc. will post $2.96 earnings per share 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 is Wednesday, November 23rd. This represents a $1.48 dividend on an annualized basis and a yield of 2.63%. Nordstrom’s dividend payout ratio is presently 79.14%.
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A number of brokerages have commented on JWN. Cowen and Company reiterated an “outperform” rating and issued a $55.00 price target on shares of Nordstrom in a research note on Monday, August 29th. Stifel Nicolaus reiterated a “buy” rating and issued a $58.00 price target on shares of Nordstrom in a research note on Tuesday, September 13th. Vetr upgraded shares of Nordstrom from a “strong sell” rating to a “sell” rating and set a $46.00 price target for the company in a research note on Wednesday, August 31st. Guggenheim began coverage on shares of Nordstrom in a research note on Friday, September 30th. They issued a “buy” rating and a $60.00 price target for the company. Finally, Piper Jaffray Cos. reiterated an “overweight” rating and issued a $56.00 price target (up previously from $53.00) on shares of Nordstrom in a research note on Wednesday, August 10th. Seven investment analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and eight have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $49.16.
In other news, Director Enrique Hernandez, Jr. sold 24,534 shares of the business’s stock in a transaction that occurred on Wednesday, November 23rd. The stock was sold at an average price of $58.38, for a total transaction of $1,432,294.92. Following the transaction, the director now owns 3,772 shares of the company’s stock, valued at approximately $220,209.36. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, President Blake W. Nordstrom sold 42,847 shares of the business’s stock in a transaction that occurred on Monday, November 14th. The shares were sold at an average price of $60.00, for a total value of $2,570,820.00. The disclosure for this sale can be found here. 7.03% of the stock is owned by corporate insiders.
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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