Scotia Capital Inc. Purchases Shares of 7,000 Nordstrom, Inc. (NYSE:JWN)

Scotia Capital Inc. purchased a new stake in shares of Nordstrom, Inc. (NYSE:JWN) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 7,000 shares of the specialty retailer’s stock, valued at approximately $223,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. GAM Holding AG lifted its position in Nordstrom by 138.4% during the first quarter. GAM Holding AG now owns 22,779 shares of the specialty retailer’s stock valued at $1,011,000 after buying an additional 13,226 shares during the period. Evergreen Capital Management LLC lifted its holdings in Nordstrom by 24.2% in the 1st quarter. Evergreen Capital Management LLC now owns 179,472 shares of the specialty retailer’s stock worth $7,965,000 after purchasing an additional 35,024 shares in the last quarter. Meeder Asset Management Inc. lifted its holdings in Nordstrom by 6.3% in the 2nd quarter. Meeder Asset Management Inc. now owns 15,207 shares of the specialty retailer’s stock worth $486,000 after purchasing an additional 899 shares in the last quarter. Grimes & Company Inc. raised its holdings in shares of Nordstrom by 5.9% during the 2nd quarter. Grimes & Company Inc. now owns 109,172 shares of the specialty retailer’s stock worth $3,478,000 after acquiring an additional 6,111 shares in the last quarter. Finally, Advisor Group Inc. raised its holdings in shares of Nordstrom by 1.4% during the 1st quarter. Advisor Group Inc. now owns 45,234 shares of the specialty retailer’s stock worth $2,008,000 after acquiring an additional 615 shares in the last quarter. Institutional investors and hedge funds own 64.25% of the company’s stock.

Several analysts have recently issued reports on the company. Bank of America reaffirmed an “underperform” rating and set a $29.00 price objective (down from $32.00) on shares of Nordstrom in a report on Thursday, August 22nd. Piper Jaffray Companies cut their price objective on Nordstrom from $40.00 to $33.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 22nd. Wedbush set a $24.00 price objective on Nordstrom and gave the company a “hold” rating in a research report on Thursday, August 22nd. Credit Suisse Group cut their price objective on Nordstrom from $40.00 to $36.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 22nd. Finally, JPMorgan Chase & Co. cut their price objective on Nordstrom from $40.00 to $35.00 and set an “underweight” rating on the stock in a research report on Wednesday, May 22nd. Five research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and one has given a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $38.19.

In related news, insider Christine Deputy sold 1,906 shares of the firm’s stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $28.53, for a total transaction of $54,378.18. Following the sale, the insider now directly owns 56,913 shares of the company’s stock, valued at $1,623,727.89. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 5.21% of the stock is owned by company insiders.

Shares of JWN traded up $0.25 during midday trading on Wednesday, reaching $32.35. 217,694 shares of the stock were exchanged, compared to its average volume of 7,034,007. Nordstrom, Inc. has a 52 week low of $25.01 and a 52 week high of $67.75. The company has a current ratio of 0.79, a quick ratio of 0.35 and a debt-to-equity ratio of 5.39. The company’s 50 day moving average is $29.81 and its two-hundred day moving average is $35.77. The company has a market capitalization of $5.39 billion, a P/E ratio of 9.10, a PEG ratio of 1.74 and a beta of 0.70.

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

The business also recently announced a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Friday, August 30th were issued a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 4.57%. The ex-dividend date was Thursday, August 29th. Nordstrom’s dividend payout ratio (DPR) is 41.69%.

Nordstrom Profile

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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