Ceredex Value Advisors LLC Buys New Stake in Nordstrom, Inc. (NYSE:JWN)

Ceredex Value Advisors LLC purchased a new stake in Nordstrom, Inc. (NYSE:JWN) during the second quarter, HoldingsChannel.com reports. The fund purchased 344,500 shares of the specialty retailer’s stock, valued at approximately $7,310,000.

Other institutional investors also recently bought and sold shares of the company. CANADA LIFE ASSURANCE Co increased its holdings in shares of Nordstrom by 0.6% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 90,144 shares of the specialty retailer’s stock valued at $1,828,000 after acquiring an additional 520 shares during the last quarter. State of Michigan Retirement System boosted its holdings in Nordstrom by 2.6% in the first quarter. State of Michigan Retirement System now owns 23,908 shares of the specialty retailer’s stock valued at $485,000 after purchasing an additional 600 shares in the last quarter. Personal CFO Solutions LLC increased its stake in Nordstrom by 5.7% in the fourth quarter. Personal CFO Solutions LLC now owns 11,882 shares of the specialty retailer’s stock valued at $219,000 after purchasing an additional 636 shares during the last quarter. Hexagon Capital Partners LLC raised its holdings in Nordstrom by 33.1% during the first quarter. Hexagon Capital Partners LLC now owns 2,648 shares of the specialty retailer’s stock worth $54,000 after purchasing an additional 659 shares in the last quarter. Finally, Louisiana State Employees Retirement System lifted its position in shares of Nordstrom by 2.9% during the 1st quarter. Louisiana State Employees Retirement System now owns 28,000 shares of the specialty retailer’s stock worth $568,000 after buying an additional 800 shares during the last quarter. 88.73% of the stock is owned by hedge funds and other institutional investors.

Nordstrom Stock Performance

Shares of Nordstrom stock traded up $0.58 during trading hours on Friday, hitting $21.73. 2,225,002 shares of the company were exchanged, compared to its average volume of 3,339,710. The business has a 50-day moving average of $21.93 and a 200-day moving average of $20.61. Nordstrom, Inc. has a 1 year low of $12.88 and a 1 year high of $24.03. The company has a current ratio of 1.03, a quick ratio of 0.36 and a debt-to-equity ratio of 3.13. The stock has a market capitalization of $3.56 billion, a price-to-earnings ratio of 11.87, a P/E/G ratio of 2.55 and a beta of 2.62.

Nordstrom (NYSE:JWN) last announced its quarterly earnings data on Thursday, May 30th. The specialty retailer reported ($0.24) EPS for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.16). Nordstrom had a negative return on equity of 26.45% and a negative net margin of 1.35%. The firm had revenue of $3.34 billion for the quarter, compared to analysts’ expectations of $3.19 billion. During the same quarter in the previous year, the company posted $0.07 EPS. The firm’s quarterly revenue was up 4.8% compared to the same quarter last year. As a group, analysts expect that Nordstrom, Inc. will post 1.79 EPS for the current fiscal year.

Nordstrom Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 18th. Investors of record on Tuesday, September 3rd will be given a $0.19 dividend. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $0.76 dividend on an annualized basis and a yield of 3.50%. Nordstrom’s payout ratio is currently 41.53%.

Wall Street Analyst Weigh In

A number of research firms recently commented on JWN. Evercore ISI increased their target price on shares of Nordstrom from $17.00 to $19.00 and gave the company an “in-line” rating in a research report on Friday, May 31st. Bank of America raised their price objective on Nordstrom from $15.00 to $18.00 and gave the stock an “underperform” rating in a report on Friday, May 31st. StockNews.com raised Nordstrom from a “hold” rating to a “buy” rating in a report on Thursday, August 8th. Barclays raised their price target on Nordstrom from $15.00 to $18.00 and gave the stock an “underweight” rating in a research note on Friday, May 31st. Finally, JPMorgan Chase & Co. boosted their price objective on Nordstrom from $15.00 to $17.00 and gave the company an “underweight” rating in a research note on Friday, May 17th. Five equities research analysts have rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $17.75.

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.