TD Asset Management Inc. Cuts Stake in Nordstrom, Inc. (JWN)
TD Asset Management Inc. lessened its stake in shares of Nordstrom, Inc. (NYSE:JWN) by 8.9% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 34,889 shares of the specialty retailer’s stock after selling 3,418 shares during the quarter. TD Asset Management Inc.’s holdings in Nordstrom were worth $1,645,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Flippin Bruce & Porter Inc. raised its stake in Nordstrom by 46.2% in the 2nd quarter. Flippin Bruce & Porter Inc. now owns 112,227 shares of the specialty retailer’s stock worth $5,368,000 after purchasing an additional 35,467 shares in the last quarter. Twin Capital Management Inc. raised its stake in Nordstrom by 17.4% in the 2nd quarter. Twin Capital Management Inc. now owns 31,360 shares of the specialty retailer’s stock worth $1,500,000 after purchasing an additional 4,650 shares in the last quarter. Thrivent Financial For Lutherans acquired a new stake in Nordstrom in the 2nd quarter worth about $202,000. Principal Financial Group Inc. raised its stake 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 worth $87,584,000 after purchasing an additional 1,149,685 shares in the last quarter. Finally, Stonebridge Capital Advisors LLC raised its stake in Nordstrom by 5.0% in the 2nd quarter. Stonebridge Capital Advisors LLC now owns 71,988 shares of the specialty retailer’s stock worth $3,443,000 after purchasing an additional 3,428 shares in the last quarter. Institutional investors own 57.74% of the company’s stock.
Several analysts have weighed in on JWN shares. Zacks Investment Research upgraded shares of Nordstrom from a “sell” rating to a “hold” rating and set a $45.00 price objective for the company in a research note on Wednesday, November 8th. Robert W. Baird dropped their price objective on shares of Nordstrom from $50.00 to $43.00 and set a “neutral” rating for the company in a research note on Friday, November 10th. Cowen reiterated an “outperform” rating and issued a $53.00 price objective (up previously from $49.00) on shares of Nordstrom in a research note on Wednesday, September 13th. KeyCorp set a $55.00 price objective on shares of Nordstrom and gave the stock a “buy” rating in a research note on Wednesday, October 11th. Finally, Bank of America dropped their price objective on shares of Nordstrom from $40.00 to $35.00 and set an “underperform” rating for the company in a research note on Friday, November 10th. Five research analysts have rated the stock with a sell rating, sixteen have given a hold rating and seven have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $45.33.
Shares of Nordstrom, Inc. (NYSE:JWN) traded up $0.06 during trading on Tuesday, hitting $45.84. 1,683,900 shares of the company traded hands, compared to its average volume of 2,895,786. The company has a market cap of $7,626.14, a price-to-earnings ratio of 14.67, a PEG ratio of 2.59 and a beta of 0.90. The company has a quick ratio of 0.30, a current ratio of 1.00 and a debt-to-equity ratio of 3.14. Nordstrom, Inc. has a 12 month low of $37.79 and a 12 month high of $60.51.
Nordstrom (NYSE:JWN) last announced its quarterly earnings results on Thursday, November 9th. The specialty retailer reported $0.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.04. The company had revenue of $3.54 billion for the quarter, compared to analyst estimates of $3.50 billion. Nordstrom had a net margin of 3.25% and a return on equity of 67.44%. The firm’s revenue was up 2.0% on a year-over-year basis. During the same period in the previous year, the firm posted $0.84 EPS. equities research analysts predict that Nordstrom, Inc. will post 2.95 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 12th. Investors of record on Monday, November 27th will be issued a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 3.23%. The ex-dividend date of this dividend is Friday, November 24th. Nordstrom’s dividend payout ratio (DPR) is presently 52.11%.
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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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