Cowen Inc. Decreases Holdings in Nordstrom, Inc. (JWN)
Cowen Inc. reduced its position in shares of Nordstrom, Inc. (NYSE:JWN) by 46.6% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 75,000 shares of the specialty retailer’s stock after selling 65,500 shares during the quarter. Cowen Inc.’s holdings in Nordstrom were worth $3,536,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently modified their holdings of JWN. San Francisco Sentry Investment Group CA raised its holdings in shares of Nordstrom by 1,752.0% during the third quarter. San Francisco Sentry Investment Group CA now owns 2,315 shares of the specialty retailer’s stock worth $109,000 after acquiring an additional 2,190 shares in the last quarter. Sei Investments Co. raised its holdings in shares of Nordstrom by 32.0% during the second quarter. Sei Investments Co. now owns 3,177 shares of the specialty retailer’s stock worth $152,000 after acquiring an additional 771 shares in the last quarter. Mosaic Family Wealth LLC raised its holdings in Nordstrom by 8.2% during the second quarter. Mosaic Family Wealth LLC now owns 3,195 shares of the specialty retailer’s stock valued at $153,000 after buying an additional 242 shares in the last quarter. Advisory Services Network LLC raised its holdings in Nordstrom by 41.8% during the second quarter. Advisory Services Network LLC now owns 3,452 shares of the specialty retailer’s stock valued at $165,000 after buying an additional 1,018 shares in the last quarter. Finally, Thrivent Financial For Lutherans bought a new position in Nordstrom during the second quarter valued at about $202,000. 57.74% of the stock is owned by hedge funds and other institutional investors.
Shares of Nordstrom, Inc. (JWN) opened at $44.98 on Friday. 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 capitalization of $7,549.51, a P/E ratio of 14.53, a price-to-earnings-growth ratio of 2.56 and a beta of 0.90. Nordstrom, Inc. has a 1-year low of $37.79 and a 1-year high of $61.85.
Nordstrom (NYSE:JWN) last released its quarterly earnings data on Thursday, November 9th. The specialty retailer reported $0.67 earnings per share for the quarter, beating analysts’ consensus estimates of $0.63 by $0.04. The company had revenue of $3.54 billion for the quarter, compared to the consensus estimate of $3.50 billion. Nordstrom had a return on equity of 67.44% and a net margin of 3.25%. The company’s quarterly revenue was up 2.0% on a year-over-year basis. During the same period in the previous year, the business earned $0.84 earnings per share. equities research analysts predict that Nordstrom, Inc. will post 2.95 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 12th. Shareholders of record on Monday, November 27th will be issued a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 3.29%. The ex-dividend date of this dividend is Friday, November 24th. Nordstrom’s payout ratio is 52.11%.
Several research firms have weighed in on JWN. Wolfe Research raised their target price on Nordstrom from $45.00 to $47.00 and gave the company an “outperform” rating in a report on Friday, August 11th. KeyCorp restated an “overweight” rating and set a $55.00 target price on shares of Nordstrom in a report on Monday, August 14th. BidaskClub lowered Nordstrom from a “buy” rating to a “hold” rating in a report on Saturday, August 12th. Credit Suisse Group restated a “buy” rating and set a $52.00 target price on shares of Nordstrom in a report on Thursday, August 10th. Finally, Cowen reaffirmed a “buy” rating and issued a $49.00 price target on shares of Nordstrom in a research report on Friday, August 11th. Five investment 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 presently has an average rating of “Hold” and an average 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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