10,061 Shares in Nordstrom, Inc. (JWN) Purchased by LMR Partners LLP
LMR Partners LLP bought a new stake in Nordstrom, Inc. (NYSE:JWN) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 10,061 shares of the specialty retailer’s stock, valued at approximately $469,000.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in JWN. Garde Capital Inc. grew its stake in shares of Nordstrom by 5.2% during the third quarter. Garde Capital Inc. now owns 4,666 shares of the specialty retailer’s stock valued at $275,000 after buying an additional 230 shares during the last quarter. Chicago Equity Partners LLC grew its stake in shares of Nordstrom by 1.6% during the fourth quarter. Chicago Equity Partners LLC now owns 15,415 shares of the specialty retailer’s stock valued at $718,000 after buying an additional 250 shares during the last quarter. Federated Investors Inc. PA grew its stake in shares of Nordstrom by 22.4% during the third quarter. Federated Investors Inc. PA now owns 1,639 shares of the specialty retailer’s stock valued at $98,000 after buying an additional 300 shares during the last quarter. Captrust Financial Advisors grew its stake in shares of Nordstrom by 19.1% during the fourth quarter. Captrust Financial Advisors now owns 2,499 shares of the specialty retailer’s stock valued at $116,000 after buying an additional 400 shares during the last quarter. Finally, Contravisory Investment Management Inc. grew its stake in shares of Nordstrom by 6.5% during the fourth quarter. Contravisory Investment Management Inc. now owns 6,683 shares of the specialty retailer’s stock valued at $311,000 after buying an additional 406 shares during the last quarter. 60.50% of the stock is currently owned by institutional investors and hedge funds.
Nordstrom stock opened at $43.74 on Friday. The company has a quick ratio of 0.41, a current ratio of 1.00 and a debt-to-equity ratio of 3.07. The stock has a market cap of $7.32 billion, a PE ratio of 12.32, a PEG ratio of 1.97 and a beta of 0.54. Nordstrom, Inc. has a 1-year low of $43.04 and a 1-year high of $67.75.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 26th. Shareholders of record on Monday, March 11th will be issued a $0.37 dividend. The ex-dividend date of this dividend is Friday, March 8th. This represents a $1.48 annualized dividend and a yield of 3.38%. Nordstrom’s dividend payout ratio (DPR) is presently 41.69%.
In other Nordstrom news, insider Erik B. Nordstrom sold 17,762 shares of the firm’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $44.07, for a total value of $782,771.34. Following the completion of the sale, the insider now directly owns 2,653,314 shares in the company, valued at $116,931,547.98. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Erik B. Nordstrom sold 1,169 shares of the firm’s stock in a transaction dated Monday, February 25th. The stock was sold at an average price of $44.70, for a total transaction of $52,254.30. Following the completion of the sale, the insider now owns 2,671,406 shares of the company’s stock, valued at $119,411,848.20. The disclosure for this sale can be found here. Company insiders own 7.05% of the company’s stock.
A number of research analysts have recently issued reports on the company. Credit Suisse Group reduced their price objective on Nordstrom from $55.00 to $50.00 and set a “positive” rating on the stock in a research note on Wednesday, January 16th. Zacks Investment Research raised Nordstrom from a “hold” rating to a “buy” rating and set a $57.00 price objective on the stock in a research note on Friday, December 7th. Nomura set a $53.00 price objective on Nordstrom and gave the company a “hold” rating in a research note on Monday, November 26th. Bank of America set a $48.00 price objective on Nordstrom and gave the company a “sell” rating in a research note on Friday, March 1st. Finally, TheStreet cut Nordstrom from a “b-” rating to a “c+” rating in a research note on Tuesday, January 8th. Three analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and four have issued a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $52.79.
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Nordstrom Company Profile
Nordstrom, Inc, a fashion retailer, provides apparel, shoes, cosmetics, and accessories for women, men, young adults, and children. 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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