Janney Capital Management LLC acquired a new position in shares of Nordstrom, Inc. (NYSE:JWN) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 10,111 shares of the specialty retailer’s stock, valued at approximately $476,000.
Several other hedge funds have also bought and sold shares of JWN. Bank of New York Mellon Corp boosted its holdings in shares of Nordstrom by 37.8% during the second quarter. Bank of New York Mellon Corp now owns 10,882,305 shares of the specialty retailer’s stock worth $520,501,000 after purchasing an additional 2,985,551 shares during the last quarter. York Capital Management Global Advisors LLC purchased a new position in shares of Nordstrom in the 2nd quarter worth $75,623,000. Principal Financial Group Inc. raised its position in shares of Nordstrom by 168.7% in the 2nd quarter. Principal Financial Group Inc. now owns 1,831,138 shares of the specialty retailer’s stock worth $87,584,000 after buying an additional 1,149,685 shares during the period. Disciplined Growth Investors Inc. MN raised its position in shares of Nordstrom by 1,155.2% in the 2nd quarter. Disciplined Growth Investors Inc. MN now owns 893,200 shares of the specialty retailer’s stock worth $42,722,000 after buying an additional 822,038 shares during the period. Finally, Franklin Resources Inc. raised its position in shares of Nordstrom by 245.1% in the 2nd quarter. Franklin Resources Inc. now owns 1,064,584 shares of the specialty retailer’s stock worth $50,919,000 after buying an additional 756,061 shares during the period. Institutional investors and hedge funds own 57.74% of the company’s stock.
JWN has been the topic of several research reports. KeyCorp set a $55.00 target price on Nordstrom and gave the stock a “buy” rating in a research report on Wednesday, October 11th. Robert W. Baird reaffirmed a “hold” rating and issued a $50.00 target price on shares of Nordstrom in a research report on Wednesday, November 1st. Royal Bank of Canada reaffirmed a “hold” rating and issued a $45.00 target price on shares of Nordstrom in a research report on Thursday, October 5th. ValuEngine lowered Nordstrom from a “buy” rating to a “hold” rating in a research report on Friday, September 1st. Finally, Cowen reaffirmed a “buy” rating and issued a $50.00 target price on shares of Nordstrom in a research report on Friday, November 10th. Five investment analysts have rated the stock with a sell rating, sixteen have issued a hold rating and seven have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $45.33.
Nordstrom (NYSE:JWN) last announced its earnings results on Thursday, November 9th. The specialty retailer reported $0.67 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.63 by $0.04. Nordstrom had a return on equity of 67.44% and a net margin of 3.25%. The business had revenue of $3.54 billion for the quarter, compared to analyst estimates of $3.50 billion. During the same period in the previous year, the company earned $0.84 earnings per share. The company’s revenue for the quarter was up 2.0% compared to the same quarter last year. research analysts expect that Nordstrom, Inc. will post 2.95 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 12th. Stockholders of record on Monday, November 27th will be given a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 3.23%. The ex-dividend date of this dividend is Friday, November 24th. Nordstrom’s payout ratio is 52.11%.
Nordstrom Company Profile
Nordstrom, Inc is a fashion specialty retailer in the United States. The Company’s segments include Retail and Credit. As of March 20, 2017, the Company operated 344 the United States stores located in 40 states as well as an e-commerce business. The Company also offers its customers a variety of payment products and services, including credit and debit cards.
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