American Century Companies Inc. Purchases 661,769 Shares of Nordstrom, Inc. (NYSE:JWN)

American Century Companies Inc. increased its position in shares of Nordstrom, Inc. (NYSE:JWN) by 66.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,661,227 shares of the specialty retailer’s stock after buying an additional 661,769 shares during the period. American Century Companies Inc. owned about 1.02% of Nordstrom worth $35,251,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in JWN. Register Financial Advisors LLC bought a new position in Nordstrom during the 1st quarter worth about $30,000. Atlas Capital Advisors LLC boosted its stake in shares of Nordstrom by 101.8% during the second quarter. Atlas Capital Advisors LLC now owns 1,491 shares of the specialty retailer’s stock valued at $32,000 after purchasing an additional 752 shares in the last quarter. Rothschild Investment LLC bought a new position in shares of Nordstrom during the second quarter valued at approximately $39,000. Spire Wealth Management raised its stake in Nordstrom by 100.0% in the first quarter. Spire Wealth Management now owns 2,200 shares of the specialty retailer’s stock worth $45,000 after buying an additional 1,100 shares in the last quarter. Finally, Blue Trust Inc. lifted its holdings in Nordstrom by 10,045.8% during the second quarter. Blue Trust Inc. now owns 2,435 shares of the specialty retailer’s stock worth $49,000 after buying an additional 2,411 shares during the period. 88.73% of the stock is currently owned by institutional investors.

Nordstrom Stock Performance

Shares of JWN opened at $22.58 on Wednesday. The stock has a 50-day moving average of $22.20 and a two-hundred day moving average of $20.87. The company has a debt-to-equity ratio of 2.76, a quick ratio of 0.41 and a current ratio of 1.07. The stock has a market cap of $3.70 billion, a P/E ratio of 12.34, a P/E/G ratio of 2.38 and a beta of 2.61. Nordstrom, Inc. has a one year low of $12.88 and a one year high of $24.03.

Nordstrom (NYSE:JWN) last issued its earnings results on Tuesday, August 27th. The specialty retailer reported $0.96 EPS for the quarter, beating analysts’ consensus estimates of $0.71 by $0.25. Nordstrom had a negative return on equity of 21.26% and a negative net margin of 1.44%. The firm had revenue of $3.89 billion for the quarter, compared to analyst estimates of $3.88 billion. During the same quarter in the prior year, the firm earned $0.84 earnings per share. Nordstrom’s revenue for the quarter was up 3.2% on a year-over-year basis. As a group, research analysts predict that Nordstrom, Inc. will post 1.9 EPS for the current year.

Nordstrom Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 18th. Shareholders of record on Tuesday, September 3rd will be issued a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 3.37%. The ex-dividend date of this dividend is Tuesday, September 3rd. Nordstrom’s payout ratio is 41.53%.

Wall Street Analyst Weigh In

JWN has been the topic of a number of analyst reports. Bank of America lifted their price target on Nordstrom from $18.00 to $20.00 and gave the company an “underperform” rating in a report on Wednesday, August 28th. The Goldman Sachs Group boosted their target price on shares of Nordstrom from $19.00 to $21.00 and gave the stock a “neutral” rating in a report on Wednesday, August 28th. Barclays upgraded shares of Nordstrom from an “underweight” rating to an “equal weight” rating and raised their price target for the company from $18.00 to $23.00 in a report on Thursday, September 5th. TD Cowen boosted their price objective on shares of Nordstrom from $24.00 to $25.00 and gave the stock a “hold” rating in a research note on Wednesday, August 28th. Finally, JPMorgan Chase & Co. raised their target price on shares of Nordstrom from $19.00 to $20.00 and gave the company an “underweight” rating in a research note on Wednesday, August 28th. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, Nordstrom currently has a consensus rating of “Hold” and a consensus target price of $20.23.

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.