Douglas Lane & Associates LLC Increases Position in Nordstrom Inc. (JWN)
Douglas Lane & Associates LLC raised its position in Nordstrom Inc. (NYSE:JWN) by 9.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 534,836 shares of the company’s stock after buying an additional 45,208 shares during the period. Douglas Lane & Associates LLC’s holdings in Nordstrom were worth $20,351,000 as of its most recent SEC filing.
A number of other institutional investors have also bought and sold shares of the company. Wellington Management Group LLP raised its position in Nordstrom by 38.1% in the first quarter. Wellington Management Group LLP now owns 2,972,301 shares of the company’s stock worth $170,046,000 after buying an additional 819,877 shares during the last quarter. Bank of Montreal Can acquired a new position in Nordstrom during the second quarter worth $111,916,000. Norges Bank acquired a new position in Nordstrom during the fourth quarter worth $83,978,000. TIAA CREF Investment Management LLC raised its position in Nordstrom by 22.7% in the first quarter. TIAA CREF Investment Management LLC now owns 696,390 shares of the company’s stock worth $39,840,000 after buying an additional 128,940 shares during the last quarter. Finally, Legal & General Group Plc raised its position in Nordstrom by 1.2% in the first quarter. Legal & General Group Plc now owns 666,378 shares of the company’s stock worth $38,124,000 after buying an additional 7,922 shares during the last quarter. Hedge funds and other institutional investors own 65.49% of the company’s stock.
Shares of Nordstrom Inc. (NYSE:JWN) traded down 1.72% during trading on Tuesday, reaching $49.76. 1,729,178 shares of the company’s stock were exchanged. Nordstrom Inc. has a 52 week low of $35.01 and a 52 week high of $75.67. The stock has a market capitalization of $8.63 billion, a PE ratio of 21.20 and a beta of 0.93. The company’s 50-day moving average is $49.48 and its 200 day moving average is $46.80.
Nordstrom (NYSE:JWN) last posted its quarterly earnings data on Thursday, August 11th. The company reported $0.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.56 by $0.11. The company had revenue of $3.65 billion for the quarter, compared to analyst estimates of $3.67 billion. Nordstrom had a net margin of 2.95% and a return on equity of 47.22%. The business’s quarterly revenue was down .2% on a year-over-year basis. During the same quarter last year, the firm posted $0.93 earnings per share. On average, analysts forecast that Nordstrom Inc. will post $2.73 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 13th. Stockholders of record on Monday, August 29th were paid a dividend of $0.37 per share. The ex-dividend date of this dividend was Thursday, August 25th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 2.97%. Nordstrom’s dividend payout ratio is currently 62.98%.
JWN has been the topic of a number of recent research reports. Vetr lowered shares of Nordstrom from a “hold” rating to a “sell” rating and set a $47.33 price target on the stock. in a research report on Monday, August 15th. Piper Jaffray Cos. raised shares of Nordstrom from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $45.00 to $53.00 in a research note on Tuesday, July 26th. Citigroup Inc. lifted their target price on shares of Nordstrom from $40.00 to $50.00 and gave the stock a “neutral” rating in a research note on Friday, August 12th. Stifel Nicolaus lifted their target price on shares of Nordstrom from $44.00 to $58.00 and gave the stock a “buy” rating in a research note on Friday, August 12th. Finally, Argus reaffirmed a “hold” rating on shares of Nordstrom in a research note on Monday, June 13th. Seven analysts have rated the stock with a sell rating, eighteen have given a hold rating and eight have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $47.13.
Nordstrom Company Profile
Nordstrom, Inc is a fashion specialty retailer in the United States. The company operates through two segments: Retail and Credit. The Retail segment includes approximately 115 Nordstrom branded full-line stores in the United States and Nordstrom.com, approximately 167 off-price Nordstrom Rack stores, two Canada full-line stores, Nordstromrack.com and HauteLook, and other retail channels, including five Trunk Club showrooms and TrunkClub.com, its two Jeffrey boutiques and one clearance store that operates under the name Last Chance.
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