Legal & General Group Plc Acquires 20,541 Shares of Nordstrom, Inc. (JWN)
Legal & General Group Plc raised its position in Nordstrom, Inc. (NYSE:JWN) by 2.7% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 795,459 shares of the specialty retailer’s stock after buying an additional 20,541 shares during the period. Legal & General Group Plc owned 0.48% of Nordstrom worth $38,045,000 at the end of the most recent reporting period.
A number of other institutional investors have also modified their holdings of JWN. Parallel Advisors LLC boosted its stake in Nordstrom by 12.7% in the first quarter. Parallel Advisors LLC now owns 2,099 shares of the specialty retailer’s stock worth $104,000 after buying an additional 236 shares during the period. Gemmer Asset Management LLC boosted its stake in Nordstrom by 0.8% in the second quarter. Gemmer Asset Management LLC now owns 2,270 shares of the specialty retailer’s stock worth $109,000 after buying an additional 18 shares during the period. Advisory Services Network LLC acquired a new stake in Nordstrom during the first quarter worth $113,000. NEXT Financial Group Inc boosted its stake in Nordstrom by 55.4% in the second quarter. NEXT Financial Group Inc now owns 2,642 shares of the specialty retailer’s stock worth $126,000 after buying an additional 942 shares during the period. Finally, Ameritas Investment Partners Inc. boosted its stake in Nordstrom by 6,460.5% in the first quarter. Ameritas Investment Partners Inc. now owns 2,821 shares of the specialty retailer’s stock worth $131,000 after buying an additional 2,778 shares during the period. 63.69% of the stock is currently owned by hedge funds and other institutional investors.
Nordstrom, Inc. (NYSE:JWN) opened at 44.54 on Wednesday. Nordstrom, Inc. has a 52-week low of $39.53 and a 52-week high of $62.82. The firm’s 50-day moving average is $46.42 and its 200 day moving average is $45.56. The stock has a market capitalization of $7.40 billion, a PE ratio of 21.10 and a beta of 0.83.
Nordstrom (NYSE:JWN) last released its quarterly earnings data on Thursday, August 10th. The specialty retailer reported $0.65 earnings per share for the quarter, beating the consensus estimate of $0.62 by $0.03. The company had revenue of $3.72 billion during the quarter, compared to analyst estimates of $3.70 billion. Nordstrom had a net margin of 2.44% and a return on equity of 71.57%. Nordstrom’s revenue for the quarter was up 3.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.67 EPS. On average, equities analysts forecast that Nordstrom, Inc. will post $2.97 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 12th. Stockholders of record on Monday, August 28th will be paid a $0.37 dividend. The ex-dividend date is Thursday, August 24th. This represents a $1.48 annualized dividend and a dividend yield of 3.32%. Nordstrom’s dividend payout ratio is currently 70.14%.
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A number of equities research analysts have recently weighed in on JWN shares. TheStreet cut Nordstrom from a “b-” rating to a “c” rating in a report on Thursday, May 11th. Atlantic Securities raised Nordstrom from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $45.00 to $58.00 in a report on Thursday, May 4th. Zacks Investment Research raised Nordstrom from a “sell” rating to a “hold” rating in a report on Wednesday, May 10th. Maxim Group set a $61.00 price target on Nordstrom and gave the company a “buy” rating in a report on Thursday, May 4th. Finally, Vetr cut Nordstrom from a “buy” rating to a “hold” rating and set a $43.99 price target on the stock. in a report on Monday, June 5th. Four equities research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and eight have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $48.10.
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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