Cornerstone Capital Management Holdings LLC. Raises Position in Nordstrom, Inc. (JWN)
Cornerstone Capital Management Holdings LLC. boosted its stake in Nordstrom, Inc. (NYSE:JWN) by 329.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 85,572 shares of the specialty retailer’s stock after purchasing an additional 65,642 shares during the period. Cornerstone Capital Management Holdings LLC. owned about 0.05% of Nordstrom worth $4,034,000 at the end of the most recent quarter.
A number of other large investors also recently modified their holdings of JWN. York Capital Management Global Advisors LLC acquired a new position in Nordstrom in the 2nd quarter valued at approximately $75,623,000. Principal Financial Group Inc. increased its position in Nordstrom by 168.7% in the 2nd quarter. Principal Financial Group Inc. now owns 1,831,138 shares of the specialty retailer’s stock valued at $87,584,000 after acquiring an additional 1,149,685 shares during the period. Disciplined Growth Investors Inc. MN increased its position in Nordstrom by 1,155.2% in the 2nd quarter. Disciplined Growth Investors Inc. MN now owns 893,200 shares of the specialty retailer’s stock valued at $42,722,000 after acquiring an additional 822,038 shares during the period. Franklin Resources Inc. increased its position in Nordstrom by 245.1% in the 2nd quarter. Franklin Resources Inc. now owns 1,064,584 shares of the specialty retailer’s stock valued at $50,919,000 after acquiring an additional 756,061 shares during the period. Finally, Ameriprise Financial Inc. increased its position in Nordstrom by 596.9% in the 3rd quarter. Ameriprise Financial Inc. now owns 779,081 shares of the specialty retailer’s stock valued at $36,734,000 after acquiring an additional 667,296 shares during the period. 57.74% of the stock is owned by institutional investors and hedge funds.
Shares of Nordstrom, Inc. (JWN) opened at $45.49 on Friday. Nordstrom, Inc. has a 12-month low of $37.79 and a 12-month high of $53.13. The company has a debt-to-equity ratio of 3.14, a quick ratio of 0.30 and a current ratio of 1.00. The firm has a market cap of $7,574.48, a price-to-earnings ratio of 14.57, a PEG ratio of 2.57 and a beta of 0.90.
Nordstrom (NYSE:JWN) last posted its quarterly earnings data on Thursday, November 9th. The specialty retailer reported $0.67 earnings per share for the quarter, topping the Thomson Reuters’ 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 company had revenue of $3.54 billion during the quarter, compared to analysts’ expectations of $3.50 billion. During the same period in the prior year, the company posted $0.84 earnings per share. Nordstrom’s revenue for the quarter was up 2.0% compared to the same quarter last year. research analysts anticipate that Nordstrom, Inc. will post 2.95 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, December 12th. Shareholders of record on Monday, November 27th were issued a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 3.25%. The ex-dividend date of this dividend was Friday, November 24th. Nordstrom’s payout ratio is 52.11%.
JWN has been the subject of several recent research reports. Royal Bank of Canada set a $45.00 price target on shares of Nordstrom and gave the company a “hold” rating in a research report on Tuesday, August 29th. Cowen restated an “outperform” rating and issued a $49.00 price target on shares of Nordstrom in a research report on Tuesday, August 29th. ValuEngine cut shares of Nordstrom from a “buy” rating to a “hold” rating in a research report on Friday, September 1st. William Blair restated an “outperform” rating on shares of Nordstrom in a research report on Tuesday, September 12th. Finally, Gordon Haskett cut shares of Nordstrom from an “accumulate” rating to a “hold” rating in a research report on Wednesday, September 13th. Five equities research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and seven have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $45.33.
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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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