Nordstrom, Inc. (JWN) Position Reduced by Denver Investment Advisors LLC
Denver Investment Advisors LLC reduced its position in shares of Nordstrom, Inc. (NYSE:JWN) by 0.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 10,493 shares of the specialty retailer’s stock after selling 5 shares during the period. Denver Investment Advisors LLC’s holdings in Nordstrom were worth $489,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also made changes to their positions in JWN. Gemmer Asset Management LLC increased its position in shares of Nordstrom by 0.8% in the first quarter. Gemmer Asset Management LLC now owns 2,252 shares of the specialty retailer’s stock worth $105,000 after buying an additional 18 shares during the last quarter. Ledyard National Bank increased its stake in shares of Nordstrom by 291.1% in the first quarter. Ledyard National Bank now owns 2,362 shares of the specialty retailer’s stock valued at $110,000 after buying an additional 1,758 shares during the last quarter. Advisory Services Network LLC purchased a new stake in shares of Nordstrom during the first quarter valued at about $113,000. Sowell Financial Services LLC purchased a new stake in shares of Nordstrom during the fourth quarter valued at about $123,000. Finally, Johnson Financial Group Inc. increased its stake in shares of Nordstrom by 7.9% in the fourth quarter. Johnson Financial Group Inc. now owns 2,600 shares of the specialty retailer’s stock valued at $125,000 after buying an additional 190 shares during the last quarter. 68.39% of the stock is owned by hedge funds and other institutional investors.
Shares of Nordstrom, Inc. (NYSE:JWN) traded up 1.06% during mid-day trading on Friday, reaching $47.50. 3,442,179 shares of the company traded hands. The company has a market capitalization of $7.89 billion, a P/E ratio of 22.24 and a beta of 0.86. Nordstrom, Inc. has a 52 week low of $35.01 and a 52 week high of $62.82. The stock’s 50-day moving average is $44.55 and its 200-day moving average is $46.42. Nordstrom also was the target of unusually large options trading activity on Friday. Traders bought 3,320 call options on the company. This is an increase of 679% compared to the typical daily volume of 426 call options.
The company also recently announced a quarterly dividend, which was paid on Monday, June 12th. Stockholders of record on Friday, May 26th were given a dividend of $0.37 per share. The ex-dividend date was Wednesday, May 24th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 3.12%. Nordstrom’s payout ratio is currently 69.48%.
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Several research firms have recently weighed in on JWN. Citigroup Inc. decreased their price target on shares of Nordstrom from $50.00 to $46.00 and set a “neutral” rating for the company in a research note on Friday, May 12th. Vetr downgraded shares of Nordstrom from a “hold” rating to a “sell” rating and set a $41.24 price target for the company. in a research note on Monday, March 20th. BMO Capital Markets reaffirmed a “hold” rating and set a $50.00 price target on shares of Nordstrom in a research note on Monday, March 27th. Gordon Haskett reissued an “accumulate” rating on shares of Nordstrom in a report on Friday, June 9th. Finally, Royal Bank of Canada cut their price objective on shares of Nordstrom from $50.00 to $47.00 and set an “outperform” rating on the stock in a report on Monday, February 27th. Four equities research analysts have rated the stock with a sell rating, eighteen have issued a hold rating and six have issued a buy rating to the company. Nordstrom presently has a consensus rating of “Hold” and an average price target of $47.06.
In other news, insider Daniel F. Little sold 7,423 shares of the business’s stock in a transaction on Monday, April 3rd. The shares were sold at an average price of $47.01, for a total transaction of $348,955.23. Following the transaction, the insider now directly owns 76,371 shares of the company’s stock, valued at $3,590,200.71. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 7.03% of the company’s stock.
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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