Coldstream Capital Management Inc. cut its position in Nordstrom, Inc. (NYSE:JWN) by 38.9% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,345 shares of the specialty retailer’s stock after selling 2,772 shares during the quarter. Coldstream Capital Management Inc.’s holdings in Nordstrom were worth $208,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Flippin Bruce & Porter Inc. boosted 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 valued at $5,368,000 after purchasing an additional 35,467 shares during the period. Twin Capital Management Inc. boosted 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 valued at $1,500,000 after purchasing an additional 4,650 shares during the period. Principal Financial Group Inc. boosted 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 valued at $87,584,000 after purchasing an additional 1,149,685 shares during the period. Scopus Asset Management L.P. boosted its stake in Nordstrom by 50.0% in the 1st quarter. Scopus Asset Management L.P. now owns 600,000 shares of the specialty retailer’s stock valued at $27,942,000 after purchasing an additional 200,000 shares during the period. Finally, Russell Investments Group Ltd. boosted its stake in Nordstrom by 11.5% in the 2nd quarter. Russell Investments Group Ltd. now owns 61,972 shares of the specialty retailer’s stock valued at $2,964,000 after purchasing an additional 6,384 shares during the period. Institutional investors and hedge funds own 63.08% of the company’s stock.
Shares of Nordstrom, Inc. (JWN) traded down 1.433% during trading on Thursday, reaching $42.305. The company’s stock had a trading volume of 750,528 shares. Nordstrom, Inc. has a 12-month low of $39.53 and a 12-month high of $62.82. The stock has a market cap of $7.03 billion, a P/E ratio of 20.040 and a beta of 0.85. The stock’s 50-day moving average is $45.59 and its 200-day moving average is $45.81.
Nordstrom (NYSE:JWN) last released its quarterly earnings results on Thursday, August 10th. The specialty retailer reported $0.65 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.62 by $0.03. Nordstrom had a return on equity of 71.57% and a net margin of 2.44%. The business had revenue of $3.72 billion for the quarter, compared to the consensus estimate of $3.70 billion. During the same quarter last year, the business posted $0.67 earnings per share. The company’s revenue for the quarter was up 3.5% on a year-over-year basis. Equities research analysts anticipate that Nordstrom, Inc. will post $2.98 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, September 12th. Shareholders of record on Monday, August 28th were given a dividend of $0.37 per share. The ex-dividend date of this dividend was Thursday, August 24th. This represents a $1.48 dividend on an annualized basis and a yield of 3.45%. Nordstrom’s payout ratio is 70.14%.
JWN has been the subject of several recent research reports. Zacks Investment Research upgraded Nordstrom from a “hold” rating to a “buy” rating and set a $53.00 price target for the company in a research note on Thursday, August 10th. Cowen and Company restated an “outperform” rating and issued a $53.00 price target (up from $49.00) on shares of Nordstrom in a research note on Wednesday, September 13th. Vetr downgraded Nordstrom from a “sell” rating to a “strong sell” rating and set a $41.54 price target for the company. in a research note on Wednesday, July 5th. BidaskClub downgraded Nordstrom from a “buy” rating to a “hold” rating in a research note on Saturday, August 12th. Finally, Royal Bank Of Canada reiterated a “hold” rating and set a $45.00 target price on shares of Nordstrom in a research report on Thursday, October 5th. Four analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and eight have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $47.77.
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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