Nordstrom, Inc. (JWN) Shares Bought by Nuveen Asset Management LLC
Nuveen Asset Management LLC raised its stake in Nordstrom, Inc. (NYSE:JWN) by 4.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 250,749 shares of the specialty retailer’s stock after acquiring an additional 9,752 shares during the period. Nuveen Asset Management LLC owned 0.15% of Nordstrom worth $12,139,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of Nordstrom in the first quarter valued at about $124,000. Calton & Associates Inc. purchased a new stake in shares of Nordstrom in the fourth quarter valued at about $153,000. Rampart Investment Management Company LLC raised its holdings in shares of Nordstrom by 125.2% in the first quarter. Rampart Investment Management Company LLC now owns 3,432 shares of the specialty retailer’s stock valued at $166,000 after buying an additional 1,908 shares during the last quarter. Zions Bancorporation purchased a new stake in shares of Nordstrom in the first quarter valued at about $177,000. Finally, BB&T Securities LLC purchased a new stake in shares of Nordstrom in the first quarter valued at about $200,000. Institutional investors own 56.55% of the company’s stock.
A number of equities research analysts have recently commented on JWN shares. Piper Jaffray Companies set a $48.00 target price on shares of Nordstrom and gave the company a “hold” rating in a report on Thursday, March 1st. Robert W. Baird set a $53.00 target price on shares of Nordstrom and gave the company a “hold” rating in a report on Thursday, March 1st. Royal Bank of Canada set a $49.00 target price on shares of Nordstrom and gave the company a “hold” rating in a report on Friday, March 2nd. BMO Capital Markets upped their target price on shares of Nordstrom from $50.00 to $55.00 and gave the company a “market perform” rating in a report on Monday, March 5th. Finally, TheStreet raised shares of Nordstrom from a “c+” rating to a “b-” rating in a report on Friday, March 2nd. Three research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and four have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $48.66.
Shares of Nordstrom stock opened at $52.93 on Wednesday. Nordstrom, Inc. has a 12-month low of $37.79 and a 12-month high of $54.00. The company has a debt-to-equity ratio of 2.50, a current ratio of 1.09 and a quick ratio of 0.44. The stock has a market capitalization of $8.75 billion, a price-to-earnings ratio of 17.88, a P/E/G ratio of 2.53 and a beta of 0.81.
Nordstrom (NYSE:JWN) last issued its earnings results on Thursday, May 17th. The specialty retailer reported $0.51 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.43 by $0.08. The company had revenue of $3.56 billion during the quarter, compared to analysts’ expectations of $3.47 billion. Nordstrom had a net margin of 2.96% and a return on equity of 55.75%. During the same period last year, the company posted $0.37 earnings per share. sell-side analysts predict that Nordstrom, Inc. will post 3.45 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Monday, June 4th. Stockholders of record on Friday, May 18th were given a $0.37 dividend. The ex-dividend date was Thursday, May 17th. This represents a $1.48 annualized dividend and a dividend yield of 2.80%. Nordstrom’s dividend payout ratio is presently 50.00%.
Nordstrom, Inc, a fashion retailer, provides apparel, shoes, cosmetics, and accessories for women, men, young adults, and children in the United States and Canada. The company operates in two segments, Retail and Credit. The Retail segment offers a range of brand name and private label merchandise through various channels, including Nordstrom branded full-line stores and online store at Nordstrom.com; Nordstrom Rack stores; Nordstromrack.com and HauteLook; Trunk Club clubhouses and TrunkClub.com; Jeffrey boutiques; and clearance stores that operate under the Last Chance name.
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