Pinnacle Associates Ltd. maintained its position in Nordstrom, Inc. (NYSE:JWN) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 15,806 shares of the specialty retailer’s stock at the close of the 2nd quarter. Pinnacle Associates Ltd.’s holdings in Nordstrom were worth $756,000 at the end of the most recent quarter.
A number of other hedge funds have also recently bought and sold shares of the business. Gemmer Asset Management LLC raised its stake 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 period. Global X Management Co. LLC raised its stake in shares of Nordstrom by 0.9% in the second quarter. Global X Management Co. LLC now owns 6,587 shares of the specialty retailer’s stock worth $315,000 after buying an additional 59 shares during the period. Mosaic Family Wealth LLC raised its stake in shares of Nordstrom by 3.8% in the first quarter. Mosaic Family Wealth LLC now owns 2,953 shares of the specialty retailer’s stock worth $138,000 after buying an additional 109 shares during the period. FineMark National Bank & Trust raised its stake in shares of Nordstrom by 2.1% in the second quarter. FineMark National Bank & Trust now owns 6,156 shares of the specialty retailer’s stock worth $294,000 after buying an additional 128 shares during the period. Finally, State of Alaska Department of Revenue raised its stake in shares of Nordstrom by 1.5% in the second quarter. State of Alaska Department of Revenue now owns 9,520 shares of the specialty retailer’s stock worth $455,000 after buying an additional 140 shares during the period. 63.71% of the stock is currently owned by institutional investors.
Several brokerages recently issued reports on JWN. Cowen and Company reiterated an “outperform” rating and issued a $49.00 target price on shares of Nordstrom in a report on Friday, June 9th. Royal Bank Of Canada set a $45.00 price target on Nordstrom and gave the stock a “hold” rating in a research note on Tuesday, August 29th. ValuEngine lowered Nordstrom from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. Robert W. Baird set a $50.00 price target on Nordstrom and gave the stock a “hold” rating in a research note on Saturday, August 12th. Finally, J P Morgan Chase & Co reissued an “underweight” rating and set a $48.00 price target on shares of Nordstrom in a research note on Friday, July 14th. Four analysts have rated the stock with a sell rating, seventeen have issued a hold rating and eight have assigned a buy rating to the stock. Nordstrom has an average rating of “Hold” and a consensus price target of $48.26.
Shares of Nordstrom, Inc. (NYSE JWN) traded up 0.04% during trading on Friday, hitting $46.76. The company’s stock had a trading volume of 250,463 shares. The stock has a market cap of $7.77 billion, a PE ratio of 22.15 and a beta of 0.82. Nordstrom, Inc. has a one year low of $39.53 and a one year high of $62.82. The company has a 50-day moving average price of $45.90 and a 200-day moving average price of $45.62.
Nordstrom (NYSE:JWN) last issued its quarterly earnings results on Thursday, August 10th. The specialty retailer reported $0.65 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.62 by $0.03. Nordstrom had a net margin of 2.44% and a return on equity of 71.57%. The business had revenue of $3.72 billion during the quarter, compared to the consensus estimate of $3.70 billion. During the same quarter in the prior year, the firm earned $0.67 EPS. The firm’s quarterly revenue was up 3.5% on a year-over-year basis. Equities analysts predict that Nordstrom, Inc. will post $2.97 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, September 12th. Shareholders of record on Monday, August 28th were given a $0.37 dividend. The ex-dividend date was Thursday, August 24th. This represents a $1.48 dividend on an annualized basis and a yield of 3.17%. Nordstrom’s payout ratio is 70.14%.
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.
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