Lecap Asset Management Ltd. Invests $1.42 Million in Nordstrom, Inc. (NYSE:JWN)

Lecap Asset Management Ltd. bought a new stake in shares of Nordstrom, Inc. (NYSE:JWN) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 66,782 shares of the specialty retailer’s stock, valued at approximately $1,417,000.

Other large investors also recently modified their holdings of the company. Raymond James & Associates lifted its stake in Nordstrom by 2.0% during the 2nd quarter. Raymond James & Associates now owns 91,157 shares of the specialty retailer’s stock valued at $1,934,000 after acquiring an additional 1,747 shares in the last quarter. Blue Trust Inc. increased its holdings in Nordstrom by 10,045.8% in the 2nd quarter. Blue Trust Inc. now owns 2,435 shares of the specialty retailer’s stock worth $49,000 after acquiring an additional 2,411 shares during the last quarter. Wedmont Private Capital purchased a new stake in Nordstrom in the 2nd quarter worth about $250,000. Garde Capital Inc. grew its holdings in Nordstrom by 33.6% during the 1st quarter. Garde Capital Inc. now owns 37,308 shares of the specialty retailer’s stock valued at $756,000 after buying an additional 9,376 shares in the last quarter. Finally, EMC Capital Management purchased a new position in Nordstrom during the 1st quarter valued at about $186,000. Institutional investors and hedge funds own 88.73% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on JWN shares. Bank of America lifted their target price on Nordstrom from $15.00 to $18.00 and gave the company an “underperform” rating in a report on Friday, May 31st. Telsey Advisory Group restated a “market perform” rating and issued a $23.00 target price on shares of Nordstrom in a research report on Tuesday. JPMorgan Chase & Co. boosted their target price on Nordstrom from $15.00 to $17.00 and gave the stock an “underweight” rating in a research report on Friday, May 17th. StockNews.com upgraded Nordstrom from a “hold” rating to a “buy” rating in a research report on Thursday, August 8th. Finally, Barclays boosted their target price on Nordstrom from $15.00 to $18.00 and gave the company an “underweight” rating in a research note on Friday, May 31st. Five research analysts have rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $17.75.

Nordstrom Stock Performance

Shares of JWN stock traded down $0.69 on Wednesday, hitting $21.44. The company had a trading volume of 2,953,288 shares, compared to its average volume of 3,356,066. The firm has a market cap of $3.51 billion, a P/E ratio of 11.72, a price-to-earnings-growth ratio of 2.55 and a beta of 2.62. The company has a 50-day moving average price of $21.92 and a 200-day moving average price of $20.57. 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, Inc. has a twelve month low of $12.88 and a twelve month high of $24.03.

Nordstrom (NYSE:JWN) last posted 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). Nordstrom had a negative net margin of 1.35% and a negative return on equity of 26.45%. The company had revenue of $3.34 billion during the quarter, compared to analyst estimates of $3.19 billion. During the same period in the prior year, the business posted $0.07 EPS. Nordstrom’s revenue for the quarter was up 4.8% compared to the same quarter last year. As a group, equities research analysts predict that Nordstrom, Inc. will post 1.79 earnings per share for the current fiscal year.

Nordstrom Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 18th. Shareholders of record on Tuesday, September 3rd will be given a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 3.54%. Nordstrom’s payout ratio is 41.53%.

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.