Ariel Investments LLC Trims Holdings in Nordstrom, Inc. (JWN)
Ariel Investments LLC reduced its position in shares of Nordstrom, Inc. (NYSE:JWN) by 1.2% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,021,143 shares of the specialty retailer’s stock after selling 12,167 shares during the quarter. Ariel Investments LLC owned about 0.61% of Nordstrom worth $52,875,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Whittier Trust Co. bought a new stake in Nordstrom during the 2nd quarter valued at $147,000. Kiley Juergens Wealth Management LLC bought a new stake in Nordstrom during the 2nd quarter valued at $118,000. Migdal Insurance & Financial Holdings Ltd. bought a new stake in Nordstrom during the 1st quarter valued at $124,000. Perigon Wealth Management LLC bought a new stake in Nordstrom during the 1st quarter valued at $152,000. Finally, Mount Yale Investment Advisors LLC bought a new stake in Nordstrom during the 1st quarter valued at $154,000. Institutional investors own 55.07% of the company’s stock.
Nordstrom stock opened at $61.99 on Wednesday. The company has a quick ratio of 0.54, a current ratio of 1.10 and a debt-to-equity ratio of 2.35. The firm has a market capitalization of $10.39 billion, a PE ratio of 20.65, a price-to-earnings-growth ratio of 2.90 and a beta of 0.82. Nordstrom, Inc. has a 1-year low of $37.79 and a 1-year high of $62.74.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 19th. Stockholders of record on Tuesday, September 4th will be given a $0.37 dividend. The ex-dividend date of this dividend is Friday, August 31st. This represents a $1.48 dividend on an annualized basis and a dividend yield of 2.39%. Nordstrom’s payout ratio is 50.00%.
Several brokerages have issued reports on JWN. Nomura increased their target price on Nordstrom from $54.00 to $59.00 and gave the company a “neutral” rating in a research report on Friday, August 17th. Telsey Advisory Group increased their target price on Nordstrom from $57.00 to $65.00 and gave the company an “outperform” rating in a research report on Friday, August 17th. Royal Bank of Canada set a $55.00 target price on Nordstrom and gave the company a “hold” rating in a research report on Friday, August 17th. Piper Jaffray Companies reaffirmed a “hold” rating and set a $47.00 target price on shares of Nordstrom in a research report on Tuesday, August 7th. Finally, UBS Group increased their target price on Nordstrom from $69.00 to $73.00 and gave the company a “buy” rating in a research report on Friday, August 17th. Two equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and six have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $54.72.
In other news, insider James F. Nordstrom, Jr. sold 37,880 shares of the firm’s stock in a transaction on Friday, June 29th. The stock was sold at an average price of $52.55, for a total value of $1,990,594.00. Following the completion of the sale, the insider now owns 481,285 shares of the company’s stock, valued at approximately $25,291,526.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Peter E. Nordstrom sold 118,161 shares of the firm’s stock in a transaction on Monday, July 9th. The stock was sold at an average price of $53.27, for a total value of $6,294,436.47. Following the completion of the sale, the insider now directly owns 2,525,740 shares of the company’s stock, valued at approximately $134,546,169.80. The disclosure for this sale can be found here. Insiders sold a total of 169,965 shares of company stock valued at $9,041,922 in the last three months. Insiders own 7.05% of the company’s stock.
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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