Nordstrom, Inc. (NYSE:JWN) Shares Sold by Brighton Jones LLC

Brighton Jones LLC decreased its holdings in shares of Nordstrom, Inc. (NYSE:JWN) by 14.8% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 16,109 shares of the specialty retailer’s stock after selling 2,792 shares during the period. Brighton Jones LLC’s holdings in Nordstrom were worth $342,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Norges Bank acquired a new stake in shares of Nordstrom during the fourth quarter worth about $23,572,000. Capstone Investment Advisors LLC boosted its stake in shares of Nordstrom by 185.0% during the first quarter. Capstone Investment Advisors LLC now owns 211,471 shares of the specialty retailer’s stock worth $4,287,000 after buying an additional 137,271 shares during the period. Boulder Hill Capital Management LP acquired a new stake in shares of Nordstrom during the fourth quarter worth about $2,065,000. Nomura Holdings Inc. boosted its stake in shares of Nordstrom by 152.2% during the fourth quarter. Nomura Holdings Inc. now owns 169,604 shares of the specialty retailer’s stock worth $3,129,000 after buying an additional 102,361 shares during the period. Finally, Verition Fund Management LLC boosted its stake in shares of Nordstrom by 347.2% during the fourth quarter. Verition Fund Management LLC now owns 309,299 shares of the specialty retailer’s stock worth $5,707,000 after buying an additional 240,134 shares during the period. Institutional investors and hedge funds own 88.73% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on JWN shares. TD Cowen raised their price objective on shares of Nordstrom from $24.00 to $25.00 and gave the company a “hold” rating in a research report on Wednesday, August 28th. BMO Capital Markets raised their price objective on shares of Nordstrom from $20.00 to $22.00 and gave the company a “market perform” rating in a research report on Wednesday, August 28th. Evercore ISI raised their price objective on shares of Nordstrom from $17.00 to $19.00 and gave the company an “in-line” rating in a research report on Friday, May 31st. Bank of America raised their price objective on shares of Nordstrom from $18.00 to $20.00 and gave the company an “underperform” rating in a research report on Wednesday, August 28th. Finally, StockNews.com upgraded shares of Nordstrom from a “hold” rating to a “buy” rating in a research report on Thursday, August 8th. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $20.23.

Nordstrom Trading Up 0.5 %

Shares of JWN opened at $23.02 on Monday. The company has a debt-to-equity ratio of 2.76, a current ratio of 1.07 and a quick ratio of 0.41. The firm has a 50 day simple moving average of $22.20 and a 200-day simple moving average of $20.94. Nordstrom, Inc. has a 1-year low of $12.88 and a 1-year high of $24.03. The stock has a market cap of $3.77 billion, a price-to-earnings ratio of 12.58, a price-to-earnings-growth ratio of 2.38 and a beta of 2.61.

Nordstrom (NYSE:JWN) last issued its quarterly earnings data on Tuesday, August 27th. The specialty retailer reported $0.96 earnings per share for the quarter, topping analysts’ consensus estimates of $0.71 by $0.25. Nordstrom had a negative net margin of 1.44% and a negative return on equity of 21.26%. The business had revenue of $3.89 billion during the quarter, compared to analysts’ expectations of $3.88 billion. During the same period last year, the company posted $0.84 EPS. The company’s revenue was up 3.2% on a year-over-year basis. Equities analysts forecast that Nordstrom, Inc. will post 1.9 EPS for the current fiscal year.

Nordstrom Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 18th. Stockholders of record on Tuesday, September 3rd were paid a dividend of $0.19 per share. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $0.76 dividend on an annualized basis and a dividend yield of 3.30%. Nordstrom’s dividend payout ratio (DPR) 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.