Olympiad Research LP Buys New Position in Nordstrom, Inc. (NYSE:JWN)

Olympiad Research LP purchased a new stake in Nordstrom, Inc. (NYSE:JWN) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 22,594 shares of the specialty retailer’s stock, valued at approximately $508,000.

A number of other hedge funds and other institutional investors have also modified their holdings of JWN. Atlas Capital Advisors LLC boosted its position in shares of Nordstrom by 101.8% in the 2nd quarter. Atlas Capital Advisors LLC now owns 1,491 shares of the specialty retailer’s stock valued at $32,000 after purchasing an additional 752 shares during the period. Rothschild Investment LLC purchased a new stake in shares of Nordstrom during the 2nd quarter worth about $39,000. Blue Trust Inc. raised its stake in shares of Nordstrom by 10,045.8% during the 2nd quarter. Blue Trust Inc. now owns 2,435 shares of the specialty retailer’s stock worth $49,000 after purchasing an additional 2,411 shares in the last quarter. Point72 Hong Kong Ltd purchased a new stake in shares of Nordstrom during the 2nd quarter worth about $71,000. Finally, CWM LLC raised its stake in shares of Nordstrom by 28.7% in the 3rd quarter. CWM LLC now owns 3,628 shares of the specialty retailer’s stock valued at $82,000 after acquiring an additional 810 shares in the last quarter. Institutional investors and hedge funds own 88.73% of the company’s stock.

Insider Activity at Nordstrom

In other Nordstrom news, COO Alexis Depree sold 20,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 24th. The stock was sold at an average price of $23.20, for a total transaction of $464,000.00. Following the completion of the sale, the chief operating officer now directly owns 169,331 shares of the company’s stock, valued at approximately $3,928,479.20. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 5.78% of the stock is currently owned by corporate insiders.

Nordstrom Trading Down 0.7 %

Shares of JWN opened at $22.57 on Thursday. Nordstrom, Inc. has a 52-week low of $12.88 and a 52-week high of $24.93. The business’s fifty day moving average is $22.69 and its 200-day moving average is $21.87. The company has a debt-to-equity ratio of 2.76, a quick ratio of 0.41 and a current ratio of 1.07. The firm has a market cap of $3.71 billion, a price-to-earnings ratio of 13.20 and a beta of 2.59.

Nordstrom (NYSE:JWN) last released its quarterly earnings data on Tuesday, August 27th. The specialty retailer reported $0.96 earnings per share for the quarter, beating the consensus estimate of $0.71 by $0.25. The company had revenue of $3.89 billion for the quarter, compared to the consensus estimate of $3.88 billion. Nordstrom had a negative return on equity of 21.26% and a negative net margin of 1.44%. Nordstrom’s revenue for the quarter was up 3.2% on a year-over-year basis. During the same quarter last year, the business posted $0.84 EPS. Equities analysts anticipate that Nordstrom, Inc. will post 1.89 EPS for the current fiscal year.

Nordstrom Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 18th. Stockholders of record on Tuesday, September 3rd were given a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 3.37%. The ex-dividend date of this dividend was Tuesday, September 3rd. Nordstrom’s dividend payout ratio (DPR) is presently 44.44%.

Analysts Set New Price Targets

A number of analysts have issued reports on JWN shares. BMO Capital Markets raised their target price on Nordstrom from $20.00 to $22.00 and gave the company a “market perform” rating in a report on Wednesday, August 28th. JPMorgan Chase & Co. lifted their price objective on Nordstrom from $19.00 to $20.00 and gave the stock an “underweight” rating in a report on Wednesday, August 28th. Barclays raised Nordstrom from an “underweight” rating to an “equal weight” rating and boosted their price target for the company from $18.00 to $23.00 in a research note on Thursday, September 5th. StockNews.com upgraded Nordstrom from a “hold” rating to a “buy” rating in a research report on Thursday, August 8th. Finally, KeyCorp lowered Nordstrom from an “overweight” rating to a “sector weight” rating in a research note on Thursday, September 26th. Three research analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $20.33.

About Nordstrom

Nordstrom, Inc, a fashion retailer, provides apparels, shoes, beauty, accessories, and home goods 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 stores and online at Nordstrom.com; Nordstrom.ca; Nordstrom stores; Nordstrom Rack stores; Nordstrom Locals; ASOS; Nordstromrack.com; mobile application; and clearance stores under the Last Chance name.