Nordstrom, Inc. (JWN) Position Decreased by Mitsubishi UFJ Kokusai Asset Management Co. Ltd.
Mitsubishi UFJ Kokusai Asset Management Co. Ltd. cut its stake in shares of Nordstrom, Inc. (NYSE:JWN) by 12.6% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 18,117 shares of the specialty retailer’s stock after selling 2,615 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd.’s holdings in Nordstrom were worth $867,000 as of its most recent filing with the SEC.
Other hedge funds have also bought and sold shares of the company. Parallel Advisors LLC boosted its stake in Nordstrom by 12.7% in the first quarter. Parallel Advisors LLC now owns 2,099 shares of the specialty retailer’s stock valued at $104,000 after buying an additional 236 shares in the last quarter. Gemmer Asset Management LLC boosted its stake in Nordstrom by 0.8% in the second quarter. Gemmer Asset Management LLC now owns 2,270 shares of the specialty retailer’s stock valued at $109,000 after buying an additional 18 shares in the last quarter. Advisory Services Network LLC acquired a new stake in Nordstrom during the first quarter valued at approximately $113,000. NEXT Financial Group Inc boosted its stake in Nordstrom by 55.4% in the second quarter. NEXT Financial Group Inc now owns 2,642 shares of the specialty retailer’s stock valued at $126,000 after buying an additional 942 shares in the last quarter. Finally, Ameritas Investment Partners Inc. boosted its stake in Nordstrom by 6,460.5% in the first quarter. Ameritas Investment Partners Inc. now owns 2,821 shares of the specialty retailer’s stock valued at $131,000 after buying an additional 2,778 shares in the last quarter. 66.53% of the stock is owned by institutional investors and hedge funds.
Shares of Nordstrom, Inc. (NYSE JWN) opened at 43.77 on Tuesday. The stock has a 50 day moving average price of $46.77 and a 200-day moving average price of $45.55. Nordstrom, Inc. has a 12 month low of $39.53 and a 12 month high of $62.82. The stock has a market cap of $7.27 billion, a P/E ratio of 20.73 and a beta of 0.83.
Nordstrom (NYSE:JWN) last released its earnings results on Thursday, August 10th. The specialty retailer reported $0.65 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.62 by $0.03. The company had revenue of $3.72 billion during the quarter, compared to analyst estimates of $3.70 billion. Nordstrom had a return on equity of 71.57% and a net margin of 2.44%. The company’s revenue for the quarter was up 3.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.67 earnings per share. On average, analysts forecast that Nordstrom, Inc. will post $2.97 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 12th. Stockholders of record on Monday, August 28th will be issued a $0.37 dividend. The ex-dividend date is Thursday, August 24th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 3.38%. Nordstrom’s payout ratio is currently 70.14%.
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Several research firms have recently commented on JWN. Piper Jaffray Companies set a $42.00 price target on Nordstrom and gave the company a “hold” rating in a report on Saturday, May 13th. BMO Capital Markets set a $48.00 price target on Nordstrom and gave the company a “hold” rating in a report on Saturday, May 13th. Robert W. Baird set a $50.00 price target on Nordstrom and gave the company a “hold” rating in a report on Saturday, May 13th. UBS AG reissued a “buy” rating and issued a $51.00 price target on shares of Nordstrom in a report on Monday, May 15th. Finally, Wolfe Research raised their price target on Nordstrom from $45.00 to $47.00 and gave the company an “outperform” rating in a report on Friday, August 11th. Four equities research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and eight have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $48.10.
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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