Advisor Group Inc. Sells 4,439 Shares of Nordstrom, Inc. (JWN)
Advisor Group Inc. cut its holdings in Nordstrom, Inc. (NYSE:JWN) by 9.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 40,586 shares of the specialty retailer’s stock after selling 4,439 shares during the period. Advisor Group Inc.’s holdings in Nordstrom were worth $1,914,000 at the end of the most recent reporting period.
A number of other institutional investors have also bought and sold shares of the business. Toronto Dominion Bank raised its stake in shares of Nordstrom by 17.4% during the third quarter. Toronto Dominion Bank now owns 44,487 shares of the specialty retailer’s stock valued at $2,098,000 after acquiring an additional 6,598 shares during the last quarter. Retirement Systems of Alabama raised its stake in shares of Nordstrom by 4.7% during the third quarter. Retirement Systems of Alabama now owns 56,455 shares of the specialty retailer’s stock valued at $2,662,000 after acquiring an additional 2,512 shares during the last quarter. Grimes & Company Inc. raised its stake in shares of Nordstrom by 1.4% during the third quarter. Grimes & Company Inc. now owns 116,147 shares of the specialty retailer’s stock valued at $5,476,000 after acquiring an additional 1,566 shares during the last quarter. Symons Capital Management Inc. bought a new position in shares of Nordstrom during the third quarter valued at about $12,932,000. Finally, Hennessy Advisors Inc. increased its position in shares of Nordstrom by 3.9% during the third quarter. Hennessy Advisors Inc. now owns 45,400 shares of the specialty retailer’s stock valued at $2,141,000 after buying an additional 1,700 shares during the period. 62.35% of the stock is owned by institutional investors and hedge funds.
Nordstrom, Inc. (NYSE:JWN) opened at $39.97 on Friday. The company has a debt-to-equity ratio of 3.14, a current ratio of 1.00 and a quick ratio of 0.30. Nordstrom, Inc. has a 12-month low of $37.79 and a 12-month high of $61.85. The stock has a market cap of $6,529.05, a P/E ratio of 12.56, a PEG ratio of 2.21 and a beta of 0.84.
Nordstrom (NYSE:JWN) last released its earnings results on Thursday, November 9th. The specialty retailer reported $0.67 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.63 by $0.04. Nordstrom had a net margin of 3.25% and a return on equity of 67.44%. The business had revenue of $3.54 billion during the quarter, compared to analyst estimates of $3.50 billion. During the same quarter in the prior year, the firm earned $0.84 earnings per share. The company’s revenue for the quarter was up 2.0% compared to the same quarter last year. research analysts forecast that Nordstrom, Inc. will post 2.95 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 12th. Shareholders of record on Monday, November 27th will be paid a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 3.70%. The ex-dividend date is Friday, November 24th. Nordstrom’s dividend payout ratio (DPR) is presently 52.11%.
Several equities analysts recently issued reports on JWN shares. Cowen and Company reiterated a “buy” rating and set a $49.00 price target on shares of Nordstrom in a research report on Friday, August 11th. Credit Suisse Group reiterated a “buy” rating and set a $52.00 price target on shares of Nordstrom in a research report on Thursday, August 10th. Zacks Investment Research upgraded shares of Nordstrom from a “hold” rating to a “buy” rating and set a $53.00 price target on the stock in a research report on Thursday, August 10th. KeyCorp set a $55.00 price objective on shares of Nordstrom and gave the stock a “buy” rating in a report on Wednesday, October 11th. Finally, Royal Bank Of Canada set a $45.00 price objective on shares of Nordstrom and gave the stock a “hold” rating in a report on Tuesday, August 29th. Five analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and seven have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $45.33.
Nordstrom Company Profile
Nordstrom, Inc is a fashion specialty retailer in the United States. The Company’s segments include Retail and Credit. As of March 20, 2017, the Company operated 344 the United States stores located in 40 states as well as an e-commerce business. The Company also offers its customers a variety of payment products and services, including credit and debit cards.
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