Los Angeles Capital Management & Equity Research Inc. acquired a new stake in Nordstrom, Inc. (NYSE:JWN) during the fourth quarter, according to its most recent filing with the SEC. The firm acquired 5,510 shares of the specialty retailer’s stock, valued at approximately $257,000.
A number of other institutional investors and hedge funds have also recently made changes to their positions in JWN. Empowered Funds LLC acquired a new stake in Nordstrom during the 4th quarter worth $1,084,000. Korea Investment CORP raised its stake in Nordstrom by 60.8% during the 3rd quarter. Korea Investment CORP now owns 158,466 shares of the specialty retailer’s stock worth $9,478,000 after buying an additional 59,900 shares during the period. Ibex Investors LLC acquired a new stake in Nordstrom during the 3rd quarter worth $202,000. Standard Life Aberdeen plc raised its stake in Nordstrom by 46.9% during the 3rd quarter. Standard Life Aberdeen plc now owns 77,831 shares of the specialty retailer’s stock worth $4,655,000 after buying an additional 24,859 shares during the period. Finally, Vanguard Group Inc raised its stake in Nordstrom by 1.5% during the 3rd quarter. Vanguard Group Inc now owns 12,462,906 shares of the specialty retailer’s stock worth $745,406,000 after buying an additional 178,581 shares during the period. Hedge funds and other institutional investors own 60.50% of the company’s stock.
In related news, insider Erik B. Nordstrom sold 1,169 shares of Nordstrom stock in a transaction dated Monday, February 25th. The stock was sold at an average price of $44.70, for a total transaction of $52,254.30. Following the completion of the transaction, the insider now owns 2,671,406 shares in the company, valued at $119,411,848.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Erik B. Nordstrom sold 17,762 shares of Nordstrom stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $44.07, for a total value of $782,771.34. Following the transaction, the insider now owns 2,653,314 shares of the company’s stock, valued at approximately $116,931,547.98. The disclosure for this sale can be found here. 7.05% of the stock is owned by company insiders.
Nordstrom (NYSE:JWN) last announced its quarterly earnings data on Thursday, February 28th. The specialty retailer reported $1.48 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.42 by $0.06. Nordstrom had a return on equity of 57.14% and a net margin of 3.56%. During the same period in the previous year, the business posted $1.20 earnings per share. As a group, sell-side analysts forecast that Nordstrom, Inc. will post 3.76 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 26th. Stockholders of record on Monday, March 11th will be issued a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 3.38%. The ex-dividend date is Friday, March 8th. Nordstrom’s payout ratio is 41.69%.
Several analysts recently commented on JWN shares. Wolfe Research reaffirmed a “peer perform” rating and set a $44.00 price objective (down previously from $53.00) on shares of Nordstrom in a research note on Thursday, January 17th. ValuEngine raised Nordstrom from a “sell” rating to a “hold” rating in a research note on Wednesday, January 2nd. Wedbush reiterated an “overweight” rating and set a $75.00 target price on shares of Nordstrom in a report on Friday, December 21st. Zacks Investment Research cut Nordstrom from a “buy” rating to a “hold” rating in a report on Wednesday, January 2nd. Finally, Deutsche Bank cut Nordstrom from a “buy” rating to a “hold” rating and set a $43.30 target price for the company. in a report on Friday, February 22nd. Three research analysts have rated the stock with a sell rating, fourteen have given a hold rating and four have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $52.79.
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Nordstrom, Inc, a fashion retailer, provides apparel, shoes, cosmetics, and accessories for women, men, young adults, and children. 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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