State Street Corp boosted its holdings in shares of Nordstrom, Inc. (NYSE:JWN) by 7.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 7,426,203 shares of the specialty retailer’s stock after purchasing an additional 543,917 shares during the quarter. State Street Corp owned approximately 4.79% of Nordstrom worth $250,040,000 at the end of the most recent reporting period.
Other hedge funds have also modified their holdings of the company. Steward Partners Investment Advisory LLC increased its stake in shares of Nordstrom by 20.1% during the third quarter. Steward Partners Investment Advisory LLC now owns 1,807 shares of the specialty retailer’s stock worth $60,000 after purchasing an additional 303 shares in the last quarter. DNB Asset Management AS lifted its position in shares of Nordstrom by 2.9% in the third quarter. DNB Asset Management AS now owns 11,350 shares of the specialty retailer’s stock valued at $382,000 after acquiring an additional 318 shares in the last quarter. GSA Capital Partners LLP lifted its position in shares of Nordstrom by 6.0% in the second quarter. GSA Capital Partners LLP now owns 6,524 shares of the specialty retailer’s stock valued at $208,000 after acquiring an additional 368 shares in the last quarter. Tradewinds Capital Management LLC boosted its stake in shares of Nordstrom by 4.8% in the third quarter. Tradewinds Capital Management LLC now owns 9,727 shares of the specialty retailer’s stock worth $328,000 after acquiring an additional 443 shares during the last quarter. Finally, Edge Wealth Management LLC boosted its stake in shares of Nordstrom by 50.0% in the third quarter. Edge Wealth Management LLC now owns 1,500 shares of the specialty retailer’s stock worth $50,000 after acquiring an additional 500 shares during the last quarter. Institutional investors own 66.06% of the company’s stock.
Shares of JWN stock opened at $36.60 on Wednesday. The company has a debt-to-equity ratio of 5.37, a current ratio of 0.90 and a quick ratio of 0.26. The company has a market capitalization of $5.82 billion, a PE ratio of 10.31, a price-to-earnings-growth ratio of 1.87 and a beta of 0.73. The firm’s 50-day moving average is $36.76 and its two-hundred day moving average is $32.84. Nordstrom, Inc. has a 12 month low of $25.01 and a 12 month high of $53.35.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be given a $0.37 dividend. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a $1.48 annualized dividend and a yield of 4.04%. Nordstrom’s payout ratio is 41.69%.
Several research analysts recently commented on JWN shares. ValuEngine downgraded Nordstrom from a “hold” rating to a “sell” rating in a research note on Tuesday, November 19th. Credit Suisse Group reaffirmed a “hold” rating and set a $33.00 target price on shares of Nordstrom in a research note on Sunday, November 24th. Bank of America reaffirmed an “underperform” rating and set a $29.00 target price (down previously from $32.00) on shares of Nordstrom in a report on Thursday, August 22nd. Guggenheim reiterated a “hold” rating on shares of Nordstrom in a research report on Tuesday, October 22nd. Finally, Wedbush boosted their price target on shares of Nordstrom from $24.00 to $36.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 23rd. Six research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and one has assigned a buy rating to the company’s stock. Nordstrom has an average rating of “Hold” and an average target price of $36.88.
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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