Winslow Asset Management Inc. lifted its holdings in shares of Nordstrom, Inc. (NYSE:JWN – Get Rating) by 3.0% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 133,595 shares of the specialty retailer’s stock after buying an additional 3,837 shares during the period. Winslow Asset Management Inc.’s holdings in Nordstrom were worth $2,235,000 at the end of the most recent quarter.
Several other hedge funds also recently modified their holdings of the stock. Treasurer of the State of North Carolina grew its stake in Nordstrom by 1.3% in the third quarter. Treasurer of the State of North Carolina now owns 47,945 shares of the specialty retailer’s stock valued at $802,000 after purchasing an additional 620 shares in the last quarter. Moors & Cabot Inc. grew its stake in shares of Nordstrom by 21.3% in the third quarter. Moors & Cabot Inc. now owns 21,175 shares of the specialty retailer’s stock valued at $354,000 after buying an additional 3,725 shares in the last quarter. LSV Asset Management increased its holdings in Nordstrom by 37.1% during the third quarter. LSV Asset Management now owns 804,593 shares of the specialty retailer’s stock worth $13,461,000 after buying an additional 217,721 shares during the last quarter. Virtu Financial LLC raised its position in Nordstrom by 201.6% during the third quarter. Virtu Financial LLC now owns 61,187 shares of the specialty retailer’s stock worth $1,024,000 after acquiring an additional 40,901 shares in the last quarter. Finally, Quantbot Technologies LP lifted its stake in Nordstrom by 178.8% in the third quarter. Quantbot Technologies LP now owns 133,067 shares of the specialty retailer’s stock valued at $2,226,000 after acquiring an additional 85,334 shares during the last quarter. Institutional investors own 66.41% of the company’s stock.
Wall Street Analysts Forecast Growth
Several brokerages recently issued reports on JWN. Evercore ISI cut their target price on shares of Nordstrom from $25.00 to $16.00 and set an “in-line” rating for the company in a research note on Friday, January 20th. JPMorgan Chase & Co. reduced their target price on Nordstrom from $15.00 to $13.00 and set an “underweight” rating for the company in a research note on Friday, January 20th. KeyCorp dropped their price target on Nordstrom from $30.00 to $22.00 and set an “overweight” rating on the stock in a research note on Friday, January 20th. The Goldman Sachs Group began coverage on shares of Nordstrom in a research report on Monday. They set a “neutral” rating and a $20.00 price objective for the company. Finally, Morgan Stanley dropped their price objective on shares of Nordstrom from $21.00 to $19.00 and set an “underweight” rating on the stock in a research report on Monday, January 23rd. Five equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Nordstrom presently has an average rating of “Hold” and a consensus price target of $18.71.
Nordstrom Price Performance
Nordstrom (NYSE:JWN – Get Rating) last issued its quarterly earnings results on Tuesday, November 22nd. The specialty retailer reported $0.20 earnings per share for the quarter, topping analysts’ consensus estimates of $0.14 by $0.06. The company had revenue of $3.50 billion during the quarter, compared to the consensus estimate of $3.49 billion. Nordstrom had a net margin of 2.08% and a return on equity of 58.09%. The firm’s quarterly revenue was down 3.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.39 EPS. On average, equities analysts anticipate that Nordstrom, Inc. will post 1.64 earnings per share for the current fiscal year.
Nordstrom Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 14th. Shareholders of record on Tuesday, November 29th were given a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 4.02%. The ex-dividend date of this dividend was Monday, November 28th. Nordstrom’s dividend payout ratio is presently 38.00%.
Nordstrom, Inc engages in the manufacture and trade of clothes, shoes, and accessories. It operates through the following segments: Retail and Corporate/Other. The Retail segment consists of a selection of high-quality, brand-name, and private label merchandise, which includes apparel, shoes, cosmetics, and accessories for women, men, young adults, and children.
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