Nordstrom, Inc. (NYSE:JWN) Shares Acquired by Axxcess Wealth Management LLC

Axxcess Wealth Management LLC grew its stake in Nordstrom, Inc. (NYSE:JWN) by 15.1% in the first quarter, Holdings Channel reports. The fund owned 12,200 shares of the specialty retailer’s stock after purchasing an additional 1,600 shares during the period. Axxcess Wealth Management LLC’s holdings in Nordstrom were worth $247,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. EP Wealth Advisors LLC purchased a new position in shares of Nordstrom during the 1st quarter worth $275,000. Boulder Hill Capital Management LP grew its holdings in shares of Nordstrom by 82.3% during the 1st quarter. Boulder Hill Capital Management LP now owns 204,000 shares of the specialty retailer’s stock worth $4,135,000 after purchasing an additional 92,100 shares during the period. CANADA LIFE ASSURANCE Co grew its holdings in shares of Nordstrom by 0.6% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 90,144 shares of the specialty retailer’s stock worth $1,828,000 after purchasing an additional 520 shares during the period. Acadian Asset Management LLC boosted its holdings in Nordstrom by 217.5% during the 1st quarter. Acadian Asset Management LLC now owns 4,670 shares of the specialty retailer’s stock valued at $94,000 after acquiring an additional 3,199 shares during the period. Finally, Vanguard Group Inc. boosted its holdings in Nordstrom by 5.7% during the 1st quarter. Vanguard Group Inc. now owns 10,653,007 shares of the specialty retailer’s stock valued at $215,936,000 after acquiring an additional 579,001 shares during the period. 88.73% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on JWN. Evercore ISI raised their target price on Nordstrom from $17.00 to $19.00 and gave the company an “in-line” rating in a report on Friday, May 31st. StockNews.com upgraded Nordstrom from a “hold” rating to a “buy” rating in a report on Tuesday, July 23rd. JPMorgan Chase & Co. raised their target price on Nordstrom from $15.00 to $17.00 and gave the company an “underweight” rating in a report on Friday, May 17th. Barclays lifted their price objective on Nordstrom from $15.00 to $18.00 and gave the company an “underweight” rating in a research note on Friday, May 31st. Finally, Telsey Advisory Group lifted their price objective on Nordstrom from $19.00 to $23.00 and gave the company a “market perform” rating in a research note on Tuesday, July 9th. Five equities research analysts have rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Nordstrom presently has a consensus rating of “Hold” and an average target price of $17.75.

Nordstrom Trading Up 4.8 %

JWN opened at $22.11 on Friday. The firm has a market cap of $3.62 billion, a price-to-earnings ratio of 12.08, a price-to-earnings-growth ratio of 2.53 and a beta of 2.62. Nordstrom, Inc. has a 52 week low of $12.88 and a 52 week high of $24.03. The business’s 50 day moving average is $21.78 and its two-hundred day moving average is $20.13. The company has a quick ratio of 0.36, a current ratio of 1.03 and a debt-to-equity ratio of 3.13.

Nordstrom (NYSE:JWN) last released its quarterly earnings results on Thursday, May 30th. The specialty retailer reported ($0.24) EPS for the quarter, missing the consensus estimate of ($0.08) by ($0.16). The firm had revenue of $3.34 billion for the quarter, compared to analyst estimates of $3.19 billion. Nordstrom had a negative return on equity of 26.45% and a negative net margin of 1.35%. The company’s quarterly revenue was up 4.8% on a year-over-year basis. During the same period last year, the firm earned $0.07 EPS. On average, research analysts predict that Nordstrom, Inc. will post 1.79 EPS for the current year.

Nordstrom Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 19th. Shareholders of record on Tuesday, June 4th were given a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 3.44%. The ex-dividend date of this dividend was Tuesday, June 4th. Nordstrom’s dividend payout ratio (DPR) is 41.53%.

Nordstrom Company 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.