Marshall Wace LLP acquired a new position in Nordstrom, Inc. (NYSE:JWN) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 33,557 shares of the specialty retailer’s stock, valued at approximately $1,489,000.
Other large investors have also added to or reduced their stakes in the company. Advisors Asset Management Inc. raised its holdings in Nordstrom by 251.8% in the 1st quarter. Advisors Asset Management Inc. now owns 2,431 shares of the specialty retailer’s stock worth $108,000 after purchasing an additional 1,740 shares during the period. Stonebridge Capital Advisors LLC grew its position in shares of Nordstrom by 15.9% in the first quarter. Stonebridge Capital Advisors LLC now owns 78,198 shares of the specialty retailer’s stock valued at $3,470,000 after purchasing an additional 10,756 shares in the last quarter. Altrinsic Global Advisors LLC grew its position in shares of Nordstrom by 19.0% in the first quarter. Altrinsic Global Advisors LLC now owns 521,844 shares of the specialty retailer’s stock valued at $23,159,000 after purchasing an additional 83,374 shares in the last quarter. Andra AP fonden purchased a new stake in shares of Nordstrom in the first quarter valued at approximately $8,583,000. Finally, White Pine Capital LLC grew its position in shares of Nordstrom by 8.1% in the first quarter. White Pine Capital LLC now owns 20,140 shares of the specialty retailer’s stock valued at $894,000 after purchasing an additional 1,510 shares in the last quarter. Hedge funds and other institutional investors own 62.39% of the company’s stock.
In other news, insider Christine Deputy sold 4,812 shares of the company’s stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $32.59, for a total value of $156,823.08. Following the sale, the insider now owns 60,056 shares in the company, valued at approximately $1,957,225.04. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Peter E. Nordstrom sold 3,380 shares of the company’s stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $32.46, for a total transaction of $109,714.80. Following the completion of the sale, the insider now owns 2,530,989 shares in the company, valued at approximately $82,155,902.94. The disclosure for this sale can be found here. Insiders own 5.21% of the company’s stock.
Nordstrom (NYSE:JWN) last issued its quarterly earnings results on Tuesday, May 21st. The specialty retailer reported $0.23 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.43 by ($0.20). Nordstrom had a net margin of 3.27% and a return on equity of 58.16%. The business had revenue of $3.44 billion during the quarter, compared to analyst estimates of $3.54 billion. During the same quarter last year, the firm posted $0.51 earnings per share. As a group, equities research analysts expect that Nordstrom, Inc. will post 3.34 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 18th. Shareholders of record on Monday, June 3rd were issued a $0.37 dividend. The ex-dividend date was Friday, May 31st. This represents a $1.48 dividend on an annualized basis and a yield of 5.04%. Nordstrom’s dividend payout ratio is currently 41.69%.
A number of research firms have recently issued reports on JWN. Robert W. Baird restated an “outperform” rating and issued a $127.00 price target (down from $133.00) on shares of Lowe’s Companies in a research report on Wednesday, May 22nd. Bank of America lowered their price objective on Nordstrom from $40.00 to $32.00 and set an “underperform” rating for the company in a research report on Wednesday, May 22nd. JPMorgan Chase & Co. set a €21.00 ($24.42) price objective on Infineon Technologies and gave the stock a “buy” rating in a research report on Wednesday, May 22nd. Zacks Investment Research lowered Hammerson from a “hold” rating to a “sell” rating in a research report on Friday, May 24th. Finally, Credit Suisse Group increased their price objective on TJX Companies from $55.00 to $56.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 22nd. Five analysts have rated the stock with a sell rating, fifteen have issued a hold rating and one has given a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $40.11.
Nordstrom Company 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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