Covestor Ltd Raises Stake in Nordstrom, Inc. (NYSE:JWN)

Covestor Ltd grew its stake in Nordstrom, Inc. (NYSE:JWN) by 69.2% in the third quarter, Holdings Channel reports. The fund owned 13,428 shares of the specialty retailer’s stock after purchasing an additional 5,494 shares during the period. Covestor Ltd’s holdings in Nordstrom were worth $302,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of JWN. CANADA LIFE ASSURANCE Co increased its stake in Nordstrom by 0.6% during the first quarter. CANADA LIFE ASSURANCE Co now owns 90,144 shares of the specialty retailer’s stock worth $1,828,000 after acquiring an additional 520 shares during the last quarter. Atlas Capital Advisors LLC grew its holdings in shares of Nordstrom by 101.8% during the 2nd quarter. Atlas Capital Advisors LLC now owns 1,491 shares of the specialty retailer’s stock worth $32,000 after purchasing an additional 752 shares during the period. State of Alaska Department of Revenue increased its position in shares of Nordstrom by 7.3% during the 3rd quarter. State of Alaska Department of Revenue now owns 11,236 shares of the specialty retailer’s stock worth $252,000 after purchasing an additional 760 shares during the last quarter. Stephens Inc. AR increased its position in shares of Nordstrom by 0.5% during the 3rd quarter. Stephens Inc. AR now owns 153,061 shares of the specialty retailer’s stock worth $3,442,000 after purchasing an additional 805 shares during the last quarter. Finally, CWM LLC raised its holdings in 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 buying an additional 810 shares during the period. Hedge funds and other institutional investors own 88.73% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. The Goldman Sachs Group increased their target price on shares of Nordstrom from $19.00 to $21.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 28th. StockNews.com raised shares of Nordstrom from a “hold” rating to a “buy” rating in a research report on Thursday, August 8th. Bank of America boosted their target price on Nordstrom from $18.00 to $20.00 and gave the company an “underperform” rating in a research report on Wednesday, August 28th. JPMorgan Chase & Co. upped their price target on Nordstrom from $19.00 to $20.00 and gave the stock an “underweight” rating in a research note on Wednesday, August 28th. Finally, KeyCorp cut Nordstrom from an “overweight” rating to a “sector weight” rating in a research note on Thursday, September 26th. Three equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $20.33.

Nordstrom Stock Down 1.7 %

JWN stock opened at $22.52 on Friday. The company’s 50 day moving average price is $22.71 and its 200 day moving average price is $21.90. The firm has a market capitalization of $3.70 billion, a price-to-earnings ratio of 13.17 and a beta of 2.59. Nordstrom, Inc. has a fifty-two week low of $12.88 and a fifty-two week high of $24.93. The company has a debt-to-equity ratio of 2.76, a quick ratio of 0.41 and a current ratio of 1.07.

Nordstrom (NYSE:JWN) last announced its quarterly earnings data on Tuesday, August 27th. The specialty retailer reported $0.96 EPS for the quarter, beating analysts’ consensus estimates 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 net margin of 1.44% and a negative return on equity of 21.26%. The company’s quarterly revenue was up 3.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.84 EPS. On average, equities research 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 dividend of $0.19 per share. The ex-dividend date was Tuesday, September 3rd. This represents a $0.76 annualized dividend and a dividend yield of 3.37%. Nordstrom’s dividend payout ratio is currently 44.44%.

Insider Activity

In related 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 owns 169,331 shares in the company, valued at $3,928,479.20. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 5.78% of the company’s stock.

Nordstrom Profile

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.