Trading Report: The Creative Planning invests in 24,811 by buying Nordstrom Inc. (JWN) shares

The Creative Planning invests in 24,811 by buying Nordstrom Inc. (JWN) shares

Creative Planning increased its stake in shares of Nordstrom Inc. (NYSE:JWN) by 275.7% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 33,810 shares of the company’s stock after buying an additional 24,811 shares during the period. Creative Planning’s holdings in Nordstrom were worth $1,754,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. British Columbia Investment Management Corp boosted its position in shares of Nordstrom by 24.6% in the third quarter. British Columbia Investment Management Corp now owns 51,378 shares of the company’s stock valued at $2,665,000 after buying an additional 10,134 shares in the last quarter. Oregon Public Employees Retirement Fund boosted its position in shares of Nordstrom by 18.8% in the third quarter. Oregon Public Employees Retirement Fund now owns 47,250 shares of the company’s stock valued at $2,451,000 after buying an additional 7,465 shares in the last quarter. Advisory Services Network LLC boosted its position in shares of Nordstrom by 18.4% in the third quarter. Advisory Services Network LLC now owns 2,250 shares of the company’s stock valued at $117,000 after buying an additional 349 shares in the last quarter. Catawba Capital Management VA bought a new position in shares of Nordstrom during the third quarter valued at $218,000. Finally, First Mercantile Trust Co. bought a new position in shares of Nordstrom during the third quarter valued at $829,000. Institutional investors own 67.92% of the company’s stock.

Nordstrom Inc. (NYSE:JWN) traded down 1.16% on Friday, hitting $57.85. The stock had a trading volume of 1,147,145 shares. The company’s 50 day moving average is $54.61 and its 200 day moving average is $46.88. The firm has a market cap of $10.02 billion, a PE ratio of 30.79 and a beta of 1.02. Nordstrom Inc. has a 12-month low of $35.01 and a 12-month high of $62.82.

Nordstrom (NYSE:JWN) last posted its quarterly earnings data on Thursday, November 10th. The company reported $0.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.52 by $0.32. Nordstrom had a return on equity of 58.85% and a net margin of 2.28%. The business had revenue of $3.47 billion for the quarter, compared to analysts’ expectations of $3.49 billion. During the same quarter last year, the firm earned $0.57 earnings per share. The business’s revenue was up 7.2% on a year-over-year basis. On average, equities research analysts expect that Nordstrom Inc. will post $2.96 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 13th. Stockholders of record on Monday, November 28th will be issued a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 2.56%. The ex-dividend date of this dividend is Wednesday, November 23rd. Nordstrom’s dividend payout ratio (DPR) is 79.14%.

Several brokerages recently weighed in on JWN. BMO Capital Markets reiterated a “hold” rating on shares of Nordstrom in a research report on Monday, November 14th. Zacks Investment Research upgraded Nordstrom from a “hold” rating to a “buy” rating and set a $66.00 price objective for the company in a research report on Monday, November 14th. Stifel Nicolaus set a $62.00 price objective on Nordstrom and gave the company a “buy” rating in a research report on Friday, November 11th. Cowen and Company set a $64.00 price objective on Nordstrom and gave the company a “buy” rating in a research report on Friday, November 11th. Finally, Bank of America Corp. set a $40.00 price objective on Nordstrom and gave the company a “sell” rating in a research report on Friday, November 11th. Seven analysts have rated the stock with a sell rating, nineteen have given a hold rating and eight have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $49.16.

In related news, insider Daniel F. Little sold 5,270 shares of Nordstrom stock in a transaction on Thursday, October 6th. The stock was sold at an average price of $54.00, for a total value of $284,580.00. Following the transaction, the insider now owns 68,216 shares in the company, valued at $3,683,664. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, President Blake W. Nordstrom sold 42,847 shares of Nordstrom stock in a transaction on Monday, November 14th. The shares were sold at an average price of $60.00, for a total value of $2,570,820.00. The disclosure for this sale can be found here. Insiders own 7.03% of the company’s stock.

Nordstrom Company Profile

Nordstrom, Inc is a fashion specialty retailer in the United States. The company operates through two segments: Retail and Credit. The Retail segment includes approximately 115 Nordstrom branded full-line stores in the United States and Nordstrom.com, approximately 167 off-price Nordstrom Rack stores, two Canada full-line stores, Nordstromrack.com and HauteLook, and other retail channels, including five Trunk Club showrooms and TrunkClub.com, its two Jeffrey boutiques and one clearance store that operates under the name Last Chance.

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