Resources Investment Advisors LLC. Takes $35,000 Position in Nordstrom, Inc. (NYSE:JWN)
Resources Investment Advisors LLC. purchased a new position in shares of Nordstrom, Inc. (NYSE:JWN) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 1,100 shares of the specialty retailer’s stock, valued at approximately $35,000.
Several other large investors have also recently made changes to their positions in JWN. GAM Holding AG increased its stake in shares of Nordstrom by 138.4% during the 1st quarter. GAM Holding AG now owns 22,779 shares of the specialty retailer’s stock worth $1,011,000 after purchasing an additional 13,226 shares in the last quarter. Evergreen Capital Management LLC raised its stake in shares of Nordstrom by 24.2% in the 1st quarter. Evergreen Capital Management LLC now owns 179,472 shares of the specialty retailer’s stock valued at $7,965,000 after acquiring an additional 35,024 shares during the period. Meeder Asset Management Inc. raised its position in Nordstrom by 6.3% in the second quarter. Meeder Asset Management Inc. now owns 15,207 shares of the specialty retailer’s stock valued at $486,000 after purchasing an additional 899 shares during the period. Grimes & Company Inc. raised its holdings in shares of Nordstrom by 5.9% during the 2nd quarter. Grimes & Company Inc. now owns 109,172 shares of the specialty retailer’s stock valued at $3,478,000 after buying an additional 6,111 shares during the period. Finally, Advisor Group Inc. raised its holdings in shares of Nordstrom by 1.4% during the 1st quarter. Advisor Group Inc. now owns 45,234 shares of the specialty retailer’s stock valued at $2,008,000 after buying an additional 615 shares during the period. 64.63% of the stock is currently owned by institutional investors and hedge funds.
A number of research firms have weighed in on JWN. Wedbush set a $24.00 price objective on shares of Nordstrom and gave the company a “hold” rating in a research report on Thursday, August 22nd. Goldman Sachs Group lowered shares of Nordstrom from a “neutral” rating to a “sell” rating and dropped their price objective for the company from $37.00 to $30.00 in a research note on Thursday, June 27th. Telsey Advisory Group reduced their target price on shares of Nordstrom from $35.00 to $32.00 and set a “market perform” rating on the stock in a research report on Thursday, August 22nd. Morgan Stanley decreased their target price on shares of Nordstrom from $40.00 to $33.00 and set an “equal weight” rating for the company in a research note on Friday, August 23rd. Finally, Zacks Investment Research lowered shares of Nordstrom from a “hold” rating to a “strong sell” rating in a report on Friday, May 24th. Five investment analysts have rated the stock with a sell rating, fifteen have given a hold rating and one has assigned a buy rating to the company. Nordstrom presently has an average rating of “Hold” and a consensus price target of $38.19.
Nordstrom (NYSE:JWN) last issued its quarterly earnings results on Wednesday, August 21st. The specialty retailer reported $0.90 earnings per share for the quarter, topping analysts’ consensus estimates of $0.76 by $0.14. Nordstrom had a net margin of 3.17% and a return on equity of 62.11%. The company had revenue of $3.87 billion during the quarter, compared to analyst estimates of $3.92 billion. During the same period in the prior year, the business posted $0.95 EPS. The business’s revenue for the quarter was down 4.8% compared to the same quarter last year. As a group, sell-side analysts expect that Nordstrom, Inc. will post 3.34 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Friday, August 30th will be given a dividend of $0.37 per share. The ex-dividend date of this dividend is Thursday, August 29th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 4.30%. Nordstrom’s dividend payout ratio (DPR) is presently 41.69%.
In related news, insider Christine Deputy sold 4,812 shares of Nordstrom stock in a transaction on Friday, June 14th. The stock was sold at an average price of $32.59, for a total value of $156,823.08. Following the transaction, the insider now directly owns 60,056 shares in the company, valued at approximately $1,957,225.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 5.21% of the company’s stock.
Nordstrom Company Profile
Nordstrom, Inc, a fashion retailer, provides apparel, shoes, cosmetics, and accessories for women, men, young adults, and children. It offers a range of brand name and private label merchandise through various channels, such as Nordstrom branded full-line stores and online store at Nordstrom.com; Nordstrom Rack stores; Nordstromrack.com and HauteLook; Jeffrey boutiques; clearance stores that operate under the Last Chance name; Trunk Club clubhouses and TrunkClub.com; and Nordstrom Locals.
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