Washington Capital Management Inc. Purchases Shares of 12,000 Nordstrom, Inc. (NYSE:JWN)

Washington Capital Management Inc. purchased a new stake in Nordstrom, Inc. (NYSE:JWN) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 12,000 shares of the specialty retailer’s stock, valued at approximately $382,000.

A number of other hedge funds have also recently made changes to their positions in the business. JPMorgan Chase & Co. lifted its stake in Nordstrom by 4.6% in the second quarter. JPMorgan Chase & Co. now owns 7,679,988 shares of the specialty retailer’s stock valued at $241,535,000 after acquiring an additional 340,606 shares during the last quarter. Geode Capital Management LLC lifted its stake in Nordstrom by 5.1% in the fourth quarter. Geode Capital Management LLC now owns 1,650,673 shares of the specialty retailer’s stock valued at $76,815,000 after acquiring an additional 80,459 shares during the last quarter. Unigestion Holding SA lifted its stake in Nordstrom by 32.6% in the second quarter. Unigestion Holding SA now owns 1,069,202 shares of the specialty retailer’s stock valued at $34,065,000 after acquiring an additional 263,136 shares during the last quarter. Bank of Montreal Can lifted its stake in Nordstrom by 0.8% in the first quarter. Bank of Montreal Can now owns 961,704 shares of the specialty retailer’s stock valued at $42,680,000 after acquiring an additional 7,831 shares during the last quarter. Finally, BTIM Corp. lifted its stake in Nordstrom by 2,776.5% in the second quarter. BTIM Corp. now owns 790,182 shares of the specialty retailer’s stock valued at $25,175,000 after acquiring an additional 762,712 shares during the last quarter. Hedge funds and other institutional investors own 64.11% of the company’s stock.

In related news, insider Christine Deputy sold 4,812 shares of the firm’s stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $32.59, for a total transaction of $156,823.08. Following the transaction, the insider now directly owns 60,056 shares of the company’s stock, valued at $1,957,225.04. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Peter E. Nordstrom sold 3,380 shares of the firm’s stock in a transaction dated Monday, June 10th. The stock was sold at an average price of $32.46, for a total transaction of $109,714.80. Following the transaction, the insider now directly owns 2,530,989 shares in the company, valued at $82,155,902.94. The disclosure for this sale can be found here. 5.21% of the stock is currently owned by company insiders.

A number of analysts have commented on JWN shares. Goldman Sachs Group cut shares of Nordstrom from a “neutral” rating to a “sell” rating and cut their price target for the company from $37.00 to $30.00 in a research note on Thursday, June 27th. Citigroup cut their price target on shares of Nordstrom from $48.00 to $37.00 and set a “neutral” rating for the company in a research note on Wednesday, May 22nd. Wedbush reiterated a “positive” rating and issued a $24.00 price target (down previously from $35.00) on shares of Nordstrom in a research note on Thursday, August 15th. ValuEngine lowered shares of Nordstrom from a “sell” rating to a “strong sell” rating in a research report on Monday, April 29th. Finally, Gordon Haskett raised shares of Nordstrom from a “reduce” rating to a “hold” rating and set a $33.71 price objective on the stock in a research report on Thursday, June 20th. Five equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating and two have issued a buy rating to the company’s stock. Nordstrom has an average rating of “Hold” and an average price target of $38.19.

Shares of JWN traded down $2.18 during trading hours on Friday, hitting $28.57. The company had a trading volume of 9,156,768 shares, compared to its average volume of 6,736,778. The firm has a market cap of $4.76 billion, a price-to-earnings ratio of 8.05, a PEG ratio of 1.55 and a beta of 0.66. The business has a fifty day moving average of $29.63 and a 200-day moving average of $37.47. Nordstrom, Inc. has a 12 month low of $25.01 and a 12 month high of $67.75. The company has a quick ratio of 0.24, a current ratio of 0.79 and a debt-to-equity ratio of 5.39.

Nordstrom (NYSE:JWN) last issued its quarterly earnings data on Wednesday, August 21st. The specialty retailer reported $0.90 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.76 by $0.14. Nordstrom had a net margin of 3.17% and a return on equity of 62.11%. The company had revenue of $3.87 billion for the quarter, compared to analyst estimates of $3.92 billion. During the same period in the prior year, the firm earned $0.95 earnings per share. The company’s revenue was down 4.8% on a year-over-year basis. On average, equities analysts expect that Nordstrom, Inc. will post 3.34 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Friday, August 30th will be given a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 5.18%. The ex-dividend date is Thursday, August 29th. Nordstrom’s dividend payout ratio is 41.69%.

About Nordstrom

Nordstrom, Inc, a fashion retailer, provides apparel, shoes, cosmetics, and accessories for women, men, young adults, and children. It offers a range of brand name and private label merchandise through various channels, such as Nordstrom branded full-line stores and online store at Nordstrom.com; Nordstrom Rack stores; Nordstromrack.com and HauteLook; Jeffrey boutiques; clearance stores that operate under the Last Chance name; Trunk Club clubhouses and TrunkClub.com; and Nordstrom Locals.

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Institutional Ownership by Quarter for Nordstrom (NYSE:JWN)

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