Synovus Financial Corp Has $423,000 Position in Nordstrom, Inc. (JWN)

Synovus Financial Corp boosted its position in shares of Nordstrom, Inc. (NYSE:JWN) by 1.7% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 8,760 shares of the specialty retailer’s stock after acquiring an additional 143 shares during the period. Synovus Financial Corp’s holdings in Nordstrom were worth $423,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently bought and sold shares of JWN. Parallel Advisors LLC raised its holdings in shares of Nordstrom by 12.7% in the first quarter. Parallel Advisors LLC now owns 2,099 shares of the specialty retailer’s stock worth $104,000 after buying an additional 236 shares during the last quarter. Gemmer Asset Management LLC raised its holdings in shares of Nordstrom by 0.8% in the second quarter. Gemmer Asset Management LLC now owns 2,270 shares of the specialty retailer’s stock worth $109,000 after buying an additional 18 shares during the last quarter. Advisory Services Network LLC purchased a new position in shares of Nordstrom in the first quarter worth $113,000. NEXT Financial Group Inc raised its holdings in shares of Nordstrom by 55.4% in the second quarter. NEXT Financial Group Inc now owns 2,642 shares of the specialty retailer’s stock worth $126,000 after buying an additional 942 shares during the last quarter. Finally, Ameritas Investment Partners Inc. raised its holdings in shares of Nordstrom by 6,460.5% during the first quarter. Ameritas Investment Partners Inc. now owns 2,821 shares of the specialty retailer’s stock worth $131,000 after purchasing an additional 2,778 shares during the last quarter. 63.14% of the stock is owned by institutional investors.

Nordstrom, Inc. (JWN) opened at 46.88 on Friday. Nordstrom, Inc. has a one year low of $39.53 and a one year high of $62.82. The stock has a market cap of $7.79 billion, a P/E ratio of 22.21 and a beta of 0.82. The stock has a 50 day moving average of $45.72 and a 200-day moving average of $45.61.

Nordstrom (NYSE:JWN) last issued its quarterly earnings results on Thursday, August 10th. The specialty retailer reported $0.65 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.62 by $0.03. The firm had revenue of $3.72 billion for the quarter, compared to analysts’ expectations of $3.70 billion. Nordstrom had a return on equity of 71.57% and a net margin of 2.44%. Nordstrom’s revenue was up 3.5% on a year-over-year basis. During the same quarter last year, the business posted $0.67 EPS. Analysts anticipate that Nordstrom, Inc. will post $2.98 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 12th. Investors of record on Monday, August 28th were paid a $0.37 dividend. The ex-dividend date of this dividend was Thursday, August 24th. This represents a $1.48 dividend on an annualized basis and a yield of 3.16%. Nordstrom’s dividend payout ratio is currently 70.14%.

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Several analysts recently commented on JWN shares. Gordon Haskett reiterated an “accumulate” rating on shares of Nordstrom in a research report on Friday, June 9th. ValuEngine downgraded shares of Nordstrom from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. J P Morgan Chase & Co reissued an “underweight” rating and issued a $48.00 price target on shares of Nordstrom in a research note on Friday, July 14th. Vetr downgraded shares of Nordstrom from a “sell” rating to a “strong sell” rating and set a $41.54 target price on the stock. in a research note on Monday, July 17th. Finally, Cowen and Company reaffirmed an “outperform” rating and set a $53.00 target price (up from $49.00) on shares of Nordstrom in a research note on Wednesday, September 13th. Four equities research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and eight have given a buy rating to the company’s stock. Nordstrom has a consensus rating of “Hold” and an average price target of $48.26.

About Nordstrom

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.

Institutional Ownership by Quarter for Nordstrom (NYSE:JWN)

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