Hexagon Capital Partners LLC Grows Position in Nordstrom, Inc. (NYSE:JWN)

Hexagon Capital Partners LLC grew its holdings in Nordstrom, Inc. (NYSE:JWN) by 33.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,648 shares of the specialty retailer’s stock after purchasing an additional 659 shares during the quarter. Hexagon Capital Partners LLC’s holdings in Nordstrom were worth $54,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in JWN. Register Financial Advisors LLC purchased a new stake in Nordstrom in the 1st quarter valued at $30,000. CWM LLC raised its stake in Nordstrom by 1,000.3% during the first quarter. CWM LLC now owns 3,730 shares of the specialty retailer’s stock worth $76,000 after purchasing an additional 3,391 shares during the period. Rowlandmiller & PARTNERS.ADV acquired a new position in Nordstrom in the 4th quarter valued at about $119,000. EP Wealth Advisors LLC grew its stake in shares of Nordstrom by 120.3% in the 3rd quarter. EP Wealth Advisors LLC now owns 12,027 shares of the specialty retailer’s stock valued at $180,000 after buying an additional 6,567 shares during the period. Finally, Headlands Technologies LLC acquired a new stake in shares of Nordstrom during the 4th quarter worth approximately $190,000. 88.73% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

JWN has been the subject of several analyst reports. Jefferies Financial Group reiterated a “hold” rating and issued a $17.00 price objective (down from $18.00) on shares of Nordstrom in a research report on Thursday, March 7th. StockNews.com downgraded Nordstrom from a “buy” rating to a “hold” rating in a research report on Tuesday, June 25th. JPMorgan Chase & Co. upped their target price on shares of Nordstrom from $15.00 to $17.00 and gave the company an “underweight” rating in a research report on Friday, May 17th. Barclays lifted their price target on shares of Nordstrom from $15.00 to $18.00 and gave the company an “underweight” rating in a research report on Friday, May 31st. Finally, Bank of America upped their price objective on shares of Nordstrom from $15.00 to $18.00 and gave the stock an “underperform” rating in a report on Friday, May 31st. Five equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $17.42.

Nordstrom Stock Performance

Shares of JWN opened at $21.24 on Tuesday. The stock has a 50-day simple moving average of $20.97 and a 200-day simple moving average of $19.61. The company has a debt-to-equity ratio of 3.13, a quick ratio of 0.36 and a current ratio of 1.03. Nordstrom, Inc. has a 1 year low of $12.88 and a 1 year high of $23.54. The stock has a market capitalization of $3.48 billion, a PE ratio of 11.61, a PEG ratio of 2.43 and a beta of 2.62.

Nordstrom (NYSE:JWN) last posted its quarterly earnings results on Thursday, May 30th. The specialty retailer reported ($0.24) EPS for the quarter, missing the consensus estimate of ($0.08) by ($0.16). The firm had revenue of $3.34 billion for the quarter, compared to analyst estimates of $3.19 billion. Nordstrom had a negative return on equity of 26.45% and a negative net margin of 1.35%. The company’s revenue was up 4.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.07 EPS. On average, analysts predict that Nordstrom, Inc. will post 1.79 earnings per share for the current fiscal year.

Nordstrom Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 19th. Shareholders of record on Tuesday, June 4th were issued a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 3.58%. The ex-dividend date was Tuesday, June 4th. Nordstrom’s dividend payout ratio (DPR) is 41.53%.

Nordstrom Company Profile

Nordstrom, Inc, a fashion retailer, provides apparels, shoes, beauty, accessories, and home goods for women, men, young adults, and children. It offers a range of brand-name and private-label merchandise through various channels, such as Nordstrom branded stores and online at Nordstrom.com; Nordstrom.ca; Nordstrom stores; Nordstrom Rack stores; Nordstrom Locals; ASOS; Nordstromrack.com; mobile application; and clearance stores under the Last Chance name.