MKP Capital Management L.L.C. Invests $3.59 Million in Nordstrom, Inc. (JWN)
MKP Capital Management L.L.C. acquired a new stake in Nordstrom, Inc. (NYSE:JWN) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 75,000 shares of the specialty retailer’s stock, valued at approximately $3,587,000. Nordstrom accounts for about 6.3% of MKP Capital Management L.L.C.’s investment portfolio, making the stock its 3rd biggest position.
Several other institutional investors and hedge funds also recently modified their holdings of the company. HighTower Advisors LLC grew its stake in shares of Nordstrom by 8.0% in the second quarter. HighTower Advisors LLC now owns 43,985 shares of the specialty retailer’s stock valued at $2,106,000 after acquiring an additional 3,242 shares in the last quarter. Summit Street Capital Management LLC acquired a new position in shares of Nordstrom in the second quarter valued at about $765,000. Stifel Financial Corp grew its stake in shares of Nordstrom by 18.3% in the second quarter. Stifel Financial Corp now owns 356,929 shares of the specialty retailer’s stock valued at $17,088,000 after acquiring an additional 55,114 shares in the last quarter. OxFORD Asset Management LLP grew its stake in shares of Nordstrom by 142.1% in the second quarter. OxFORD Asset Management LLP now owns 25,273 shares of the specialty retailer’s stock valued at $1,209,000 after acquiring an additional 14,832 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in shares of Nordstrom by 1.3% in the second quarter. Dimensional Fund Advisors LP now owns 685,817 shares of the specialty retailer’s stock valued at $32,802,000 after acquiring an additional 8,617 shares in the last quarter. 63.14% of the stock is currently owned by institutional investors.
JWN has been the topic of several research reports. Gordon Haskett restated an “accumulate” rating on shares of Nordstrom in a research note on Friday, June 9th. Zacks Investment Research upgraded shares of Nordstrom from a “hold” rating to a “buy” rating and set a $53.00 price target on the stock in a research note on Thursday, August 10th. Credit Suisse Group restated a “buy” rating and issued a $52.00 price target on shares of Nordstrom in a research note on Thursday, August 10th. Cowen and Company restated a “buy” rating and issued a $49.00 price target on shares of Nordstrom in a research note on Friday, August 11th. Finally, Vetr downgraded shares of Nordstrom from a “buy” rating to a “hold” rating and set a $43.99 price target on the stock. in a research note on Monday, June 12th. Four investment analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and eight have given a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $48.26.
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Nordstrom, Inc. (NYSE:JWN) traded down 0.53% during trading on Friday, reaching $47.15. 1,455,297 shares of the company’s stock were exchanged. Nordstrom, Inc. has a 12 month low of $39.53 and a 12 month high of $62.82. The firm has a 50 day moving average of $45.72 and a 200-day moving average of $45.61. The stock has a market cap of $7.84 billion, a PE ratio of 22.34 and a beta of 0.82.
Nordstrom (NYSE:JWN) last released its earnings results on Thursday, August 10th. The specialty retailer reported $0.65 EPS for the quarter, topping analysts’ consensus estimates of $0.62 by $0.03. Nordstrom had a return on equity of 71.57% and a net margin of 2.44%. The firm had revenue of $3.72 billion for the quarter, compared to analysts’ expectations of $3.70 billion. During the same period in the prior year, the firm posted $0.67 earnings per share. The company’s quarterly revenue was up 3.5% on a year-over-year basis. On average, equities research analysts anticipate that Nordstrom, Inc. will post $2.98 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, September 12th. Stockholders of record on Monday, August 28th were paid a $0.37 dividend. The ex-dividend date was Thursday, August 24th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 3.14%. Nordstrom’s dividend payout ratio is currently 70.14%.
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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