Gofen & Glossberg LLC IL decreased its stake in Nordstrom Inc. (NYSE:JWN) by 16.5% during the third quarter, Holdings Channel reports. The fund owned 8,415 shares of the company’s stock after selling 1,657 shares during the period. Gofen & Glossberg LLC IL’s holdings in Nordstrom were worth $437,000 as of its most recent filing with the SEC.
A number of other institutional investors have also recently bought and sold shares of JWN. Vanguard Group Inc. boosted its position in Nordstrom by 16.4% in the second quarter. Vanguard Group Inc. now owns 13,840,222 shares of the company’s stock valued at $526,621,000 after buying an additional 1,945,151 shares during the last quarter. Bank of New York Mellon Corp boosted its position in Nordstrom by 5.6% in the second quarter. Bank of New York Mellon Corp now owns 7,853,110 shares of the company’s stock valued at $298,811,000 after buying an additional 414,860 shares during the last quarter. BlackRock Institutional Trust Company N.A. boosted its position in Nordstrom by 4.3% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 3,861,213 shares of the company’s stock valued at $146,919,000 after buying an additional 160,682 shares during the last quarter. Hotchkis & Wiley Capital Management LLC boosted its position in Nordstrom by 34.9% in the second quarter. Hotchkis & Wiley Capital Management LLC now owns 3,594,094 shares of the company’s stock valued at $136,755,000 after buying an additional 929,597 shares during the last quarter. Finally, Bank of Montreal Can purchased a new position in Nordstrom during the second quarter valued at $111,916,000. Hedge funds and other institutional investors own 67.92% of the company’s stock.
Shares of Nordstrom Inc. (NYSE:JWN) traded down 1.16% during trading on Friday, hitting $57.85. 1,147,145 shares of the stock were exchanged. Nordstrom Inc. has a 52 week low of $35.01 and a 52 week high of $62.82. The firm has a 50 day moving average price of $54.61 and a 200 day moving average price of $46.88. The firm has a market capitalization of $10.02 billion, a P/E ratio of 30.79 and a beta of 1.02.
Nordstrom (NYSE:JWN) last issued its quarterly earnings data on Thursday, November 10th. The company reported $0.84 earnings per share for the quarter, topping the consensus estimate of $0.52 by $0.32. Nordstrom had a net margin of 2.28% and a return on equity of 58.85%. The business earned $3.47 billion during the quarter, compared to analysts’ expectations of $3.49 billion. During the same quarter in the previous year, the company earned $0.57 EPS. The business’s revenue was up 7.2% on a year-over-year basis. Analysts forecast 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. Shareholders of record on Monday, November 28th will be paid a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 2.56%. The ex-dividend date is Wednesday, November 23rd. Nordstrom’s dividend payout ratio (DPR) is 79.14%.
Several equities analysts have weighed in on JWN shares. Vetr cut shares of Nordstrom from a “hold” rating to a “sell” rating and set a $47.33 price objective on the stock. in a research report on Monday, August 15th. Zacks Investment Research upgraded shares of Nordstrom from a “sell” rating to a “hold” rating in a report on Monday, November 7th. Cowen and Company set a $64.00 price target on shares of Nordstrom and gave the company a “buy” rating in a report on Friday, November 11th. Citigroup Inc. boosted their price target on shares of Nordstrom from $40.00 to $50.00 and gave the company a “neutral” rating in a report on Friday, August 12th. Finally, Stifel Nicolaus boosted their price target on shares of Nordstrom from $44.00 to $58.00 and gave the company a “buy” rating in a report on Friday, August 12th. Seven equities research analysts have rated the stock with a sell rating, nineteen have issued a hold rating and eight have given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $49.16.
In other Nordstrom news, insider Daniel F. Little sold 5,277 shares of the firm’s stock in a transaction dated Friday, October 7th. The shares were sold at an average price of $55.00, for a total value of $290,235.00. Following the transaction, the insider now directly owns 68,223 shares of the company’s stock, valued at approximately $3,752,265. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Daniel F. Little sold 5,270 shares of the firm’s stock in a transaction dated Thursday, October 6th. The shares were sold at an average price of $54.00, for a total transaction of $284,580.00. Following the completion of the transaction, the insider now directly owns 68,216 shares in the company, valued at $3,683,664. The disclosure for this sale can be found here. 7.03% of the stock is currently owned by company insiders.
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.