Texas Permanent School Fund Corp Has $2.05 Million Stake in Nordstrom, Inc. (NYSE:JWN)

Texas Permanent School Fund Corp boosted its position in shares of Nordstrom, Inc. (NYSE:JWN) by 13.6% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 96,618 shares of the specialty retailer’s stock after purchasing an additional 11,577 shares during the period. Texas Permanent School Fund Corp owned 0.06% of Nordstrom worth $2,050,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the company. Victory Capital Management Inc. grew its holdings in shares of Nordstrom by 1.7% during the second quarter. Victory Capital Management Inc. now owns 3,371,988 shares of the specialty retailer’s stock valued at $71,554,000 after buying an additional 57,546 shares in the last quarter. Commonwealth Equity Services LLC increased its holdings in shares of Nordstrom by 0.9% in the 2nd quarter. Commonwealth Equity Services LLC now owns 200,708 shares of the specialty retailer’s stock valued at $4,259,000 after purchasing an additional 1,709 shares during the period. Rothschild Investment LLC purchased a new stake in shares of Nordstrom in the second quarter worth approximately $39,000. Atlas Capital Advisors LLC boosted its holdings 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 worth $32,000 after purchasing an additional 752 shares during the period. Finally, Arjuna Capital purchased a new position in Nordstrom during the second quarter valued at approximately $1,518,000. 88.73% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

JWN has been the subject of a number of research reports. Evercore ISI lifted their target price on shares of Nordstrom from $17.00 to $19.00 and gave the company an “in-line” rating in a research note on Friday, May 31st. Barclays raised Nordstrom from an “underweight” rating to an “equal weight” rating and lifted their price objective for the company from $18.00 to $23.00 in a research report on Thursday, September 5th. BMO Capital Markets raised their price target on Nordstrom from $20.00 to $22.00 and gave the stock a “market perform” rating in a research note on Wednesday, August 28th. StockNews.com raised Nordstrom from a “hold” rating to a “buy” rating in a research note on Thursday, August 8th. Finally, The Goldman Sachs Group raised their price objective on shares of Nordstrom from $19.00 to $21.00 and gave the company a “neutral” rating in a research report on Wednesday, August 28th. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $20.23.

Nordstrom Trading Up 0.2 %

Shares of NYSE:JWN opened at $22.58 on Wednesday. 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’s 50-day moving average is $22.20 and its 200-day moving average is $20.87. The company 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 52-week low of $12.88 and a 52-week high of $24.03.

Nordstrom (NYSE:JWN) last released its earnings results on Tuesday, August 27th. The specialty retailer reported $0.96 earnings per share (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 last year, the firm posted $0.84 EPS. The company’s revenue was up 3.2% on a year-over-year basis. Equities research analysts predict that Nordstrom, Inc. will post 1.9 earnings per share for the current year.

Nordstrom Announces Dividend

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

About Nordstrom

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.