Nordstrom, Inc. (JWN) Position Decreased by Advisors Asset Management Inc.

Advisors Asset Management Inc. trimmed its stake in Nordstrom, Inc. (NYSE:JWN) by 76.4% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 21,363 shares of the specialty retailer’s stock after selling 69,242 shares during the period. Advisors Asset Management Inc.’s holdings in Nordstrom were worth $2,790,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of JWN. Centaurus Financial Inc. bought a new position in shares of Nordstrom in the 2nd quarter valued at approximately $112,000. Kiley Juergens Wealth Management LLC acquired a new stake in Nordstrom in the 2nd quarter valued at approximately $118,000. Whittier Trust Co. acquired a new stake in Nordstrom in the 2nd quarter valued at approximately $147,000. Perigon Wealth Management LLC acquired a new stake in Nordstrom in the 1st quarter valued at approximately $152,000. Finally, Mount Yale Investment Advisors LLC acquired a new stake in Nordstrom in the 1st quarter valued at approximately $154,000. 54.95% of the stock is currently owned by institutional investors and hedge funds.

In other news, VP Robert Sari sold 7,671 shares of Nordstrom stock in a transaction that occurred on Friday, August 17th. The stock was sold at an average price of $55.65, for a total transaction of $426,891.15. Following the sale, the vice president now owns 25,178 shares of the company’s stock, valued at approximately $1,401,155.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider James F. Nordstrom, Jr. sold 2,874 shares of Nordstrom stock in a transaction that occurred on Thursday, July 5th. The stock was sold at an average price of $52.51, for a total value of $150,913.74. Following the sale, the insider now directly owns 469,116 shares in the company, valued at approximately $24,633,281.16. The disclosure for this sale can be found here. Insiders have sold a total of 358,395 shares of company stock worth $20,934,526 in the last three months. 7.05% of the stock is owned by insiders.

A number of research firms have issued reports on JWN. Telsey Advisory Group raised their target price on Nordstrom from $65.00 to $72.00 and gave the company an “outperform” rating in a report on Monday, September 10th. ValuEngine raised Nordstrom from a “hold” rating to a “buy” rating in a report on Tuesday, September 4th. Goldman Sachs Group reaffirmed a “sell” rating on shares of Nordstrom in a report on Tuesday, September 4th. Morgan Stanley raised their target price on Nordstrom from $47.00 to $50.00 and gave the company an “underweight” rating in a report on Monday, September 17th. Finally, Piper Jaffray Companies reaffirmed a “hold” rating and issued a $49.00 target price on shares of Nordstrom in a report on Friday, August 17th. Three investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating and five have issued a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $56.21.

Shares of NYSE:JWN opened at $60.38 on Thursday. Nordstrom, Inc. has a 1-year low of $37.79 and a 1-year high of $66.33. The company has a market cap of $10.11 billion, a PE ratio of 20.27, a PEG ratio of 2.80 and a beta of 0.86. The company has a current ratio of 1.10, a quick ratio of 0.54 and a debt-to-equity ratio of 2.35.

Nordstrom (NYSE:JWN) last announced its quarterly earnings data on Thursday, August 16th. The specialty retailer reported $0.95 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.84 by $0.11. Nordstrom had a return on equity of 56.00% and a net margin of 3.24%. The company had revenue of $3.98 billion for the quarter, compared to analyst estimates of $3.96 billion. During the same quarter last year, the firm earned $0.65 EPS. Nordstrom’s revenue for the quarter was up 7.1% compared to the same quarter last year. research analysts expect that Nordstrom, Inc. will post 3.57 EPS for the current year.

Nordstrom announced that its Board of Directors has authorized a stock buyback program on Wednesday, August 22nd that permits the company to buyback $1.50 billion in outstanding shares. This buyback authorization permits the specialty retailer to buy up to 14.4% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s management believes its shares are undervalued.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 19th. Stockholders of record on Tuesday, September 4th were issued a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 2.45%. The ex-dividend date of this dividend was Friday, August 31st. Nordstrom’s payout ratio is presently 50.00%.

About Nordstrom

Nordstrom, Inc, a fashion retailer, provides apparel, shoes, cosmetics, and accessories for women, men, young adults, and children in the United States and Canada. The company operates in two segments, Retail and Credit. The Retail segment offers a range of brand name and private label merchandise through various channels, including Nordstrom branded full-line stores and online store at Nordstrom.com; Nordstrom Rack stores; Nordstromrack.com and HauteLook; Trunk Club clubhouses and TrunkClub.com; Jeffrey boutiques; and clearance stores that operate under the Last Chance name.

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Institutional Ownership by Quarter for Nordstrom (NYSE:JWN)

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