Empirical Financial Services LLC d.b.a. Empirical Wealth Management bought a new position in shares of Nordstrom, Inc. (NYSE:JWN) during the third quarter, according to its most recent Form 13F filing with the SEC. The fund bought 3,830 shares of the specialty retailer’s stock, valued at approximately $229,000.
Several other hedge funds have also bought and sold shares of the stock. DNB Asset Management AS lifted its position in shares of Nordstrom by 8.1% during the 3rd quarter. DNB Asset Management AS now owns 12,062 shares of the specialty retailer’s stock valued at $721,000 after acquiring an additional 900 shares during the period. Windward Capital Management Co. CA lifted its position in shares of Nordstrom by 2.2% during the 3rd quarter. Windward Capital Management Co. CA now owns 44,403 shares of the specialty retailer’s stock worth $2,656,000 after buying an additional 966 shares during the last quarter. IFM Investors Pty Ltd lifted its position in shares of Nordstrom by 17.5% during the 3rd quarter. IFM Investors Pty Ltd now owns 6,665 shares of the specialty retailer’s stock worth $399,000 after buying an additional 995 shares during the last quarter. CIBC Asset Management Inc lifted its position in shares of Nordstrom by 7.2% during the 2nd quarter. CIBC Asset Management Inc now owns 16,377 shares of the specialty retailer’s stock worth $848,000 after buying an additional 1,096 shares during the last quarter. Finally, Raymond James Financial Services Advisors Inc. lifted its position in shares of Nordstrom by 3.0% during the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 41,073 shares of the specialty retailer’s stock worth $2,127,000 after buying an additional 1,202 shares during the last quarter. 60.33% of the stock is currently owned by institutional investors and hedge funds.
Nordstrom stock traded down $1.81 during mid-day trading on Friday, reaching $44.32. The stock had a trading volume of 3,992,037 shares, compared to its average volume of 2,421,462. Nordstrom, Inc. has a fifty-two week low of $44.23 and a fifty-two week high of $67.75. The company has a debt-to-equity ratio of 2.23, a quick ratio of 0.44 and a current ratio of 1.12. The stock has a market capitalization of $7.83 billion, a PE ratio of 14.97, a price-to-earnings-growth ratio of 2.17 and a beta of 0.54.
Nordstrom (NYSE:JWN) last posted its earnings results on Thursday, November 15th. The specialty retailer reported $0.67 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.64 by $0.03. Nordstrom had a return on equity of 51.66% and a net margin of 2.92%. The company had revenue of $3.75 billion for the quarter, compared to analyst estimates of $3.68 billion. Research analysts forecast that Nordstrom, Inc. will post 3.6 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, December 11th. Shareholders of record on Monday, November 26th were given a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 3.34%. The ex-dividend date was Friday, November 23rd. Nordstrom’s dividend payout ratio is currently 50.00%.
In other Nordstrom news, VP Robert Sari sold 8,795 shares of the firm’s stock in a transaction on Wednesday, October 10th. The stock was sold at an average price of $62.50, for a total value of $549,687.50. Following the completion of the sale, the vice president now directly owns 14,960 shares of the company’s stock, valued at $935,000. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 7.05% of the company’s stock.
Several research firms have commented on JWN. Wedbush began coverage on Nordstrom in a research report on Wednesday, October 31st. They issued a $59.00 target price for the company. Gordon Haskett downgraded Nordstrom from a “hold” rating to a “reduce” rating in a research report on Thursday, November 8th. Telsey Advisory Group increased their target price on Nordstrom from $65.00 to $72.00 and gave the company an “outperform” rating in a research report on Monday, September 10th. ValuEngine upgraded Nordstrom from a “hold” rating to a “buy” rating in a research report on Tuesday, September 4th. Finally, Goldman Sachs Group reiterated a “sell” rating on shares of Nordstrom in a research report on Tuesday, September 4th. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and six have issued a buy rating to the stock. Nordstrom presently has an average rating of “Hold” and an average price target of $58.59.
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Nordstrom, Inc, a fashion retailer, provides apparel, shoes, cosmetics, and accessories for women, men, young adults, and children in the United States and Canada. The company operates in two segments, Retail and Credit. The Retail segment offers a range of brand name and private label merchandise through various channels, including Nordstrom branded full-line stores and online store at Nordstrom.com; Nordstrom Rack stores; Nordstromrack.com and HauteLook; Trunk Club clubhouses and TrunkClub.com; Jeffrey boutiques; and clearance stores that operate under the Last Chance name.
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