Axiom Advisory LLC Increases Stock Position in Nordstrom, Inc. (NYSE:JWN)

Axiom Advisory LLC raised its stake in shares of Nordstrom, Inc. (NYSE:JWN) by 46.0% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,100,864 shares of the specialty retailer’s stock after acquiring an additional 346,994 shares during the period. Nordstrom makes up 0.2% of Axiom Advisory LLC’s investment portfolio, making the stock its 28th biggest holding. Axiom Advisory LLC owned 0.67% of Nordstrom worth $24,456,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also modified their holdings of the stock. American Century Companies Inc. raised its holdings in Nordstrom by 66.2% during the second quarter. American Century Companies Inc. now owns 1,661,227 shares of the specialty retailer’s stock worth $35,251,000 after purchasing an additional 661,769 shares during the last quarter. Vanguard Group Inc. grew its stake in Nordstrom by 5.7% in the 1st quarter. Vanguard Group Inc. now owns 10,653,007 shares of the specialty retailer’s stock valued at $215,936,000 after acquiring an additional 579,001 shares during the last quarter. Marshall Wace LLP increased its holdings in Nordstrom by 38.4% during the 2nd quarter. Marshall Wace LLP now owns 1,479,414 shares of the specialty retailer’s stock valued at $31,393,000 after acquiring an additional 410,152 shares in the last quarter. NewSquare Capital LLC acquired a new position in Nordstrom during the second quarter worth about $7,783,000. Finally, Ceredex Value Advisors LLC acquired a new stake in Nordstrom during the 2nd quarter valued at $7,310,000. Hedge funds and other institutional investors own 88.73% of the company’s stock.

Nordstrom Price Performance

JWN stock opened at $21.92 on Tuesday. The firm has a market cap of $3.59 billion, a P/E ratio of 11.98 and a beta of 2.60. The company has a debt-to-equity ratio of 2.76, a quick ratio of 0.41 and a current ratio of 1.07. Nordstrom, Inc. has a 1 year low of $12.88 and a 1 year high of $24.03. The stock has a 50-day simple moving average of $22.16 and a 200-day simple moving average of $21.26.

Nordstrom (NYSE:JWN) last posted its quarterly earnings data 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. The company had revenue of $3.89 billion for the quarter, compared to analyst estimates of $3.88 billion. Nordstrom had a negative net margin of 1.44% and a negative return on equity of 21.26%. The business’s quarterly revenue was up 3.2% on a year-over-year basis. During the same quarter last year, the firm posted $0.84 earnings per share. On average, equities analysts predict that Nordstrom, Inc. will post 1.9 earnings per share for the current fiscal year.

Nordstrom Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 18th. Investors of record on Tuesday, September 3rd were paid a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 3.47%. The ex-dividend date of this dividend was Tuesday, September 3rd. Nordstrom’s dividend payout ratio (DPR) is 41.53%.

Insider Activity at Nordstrom

In other Nordstrom news, COO Alexis Depree sold 20,000 shares of Nordstrom stock in a transaction that occurred on Tuesday, September 24th. The stock was sold at an average price of $23.20, for a total transaction of $464,000.00. Following the sale, the chief operating officer now directly owns 169,331 shares in the company, valued at $3,928,479.20. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 5.78% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on JWN shares. TD Cowen boosted their price target on Nordstrom from $24.00 to $25.00 and gave the stock a “hold” rating in a report on Wednesday, August 28th. Bank of America lifted their price objective on Nordstrom from $18.00 to $20.00 and gave the company an “underperform” rating in a research report on Wednesday, August 28th. Telsey Advisory Group raised their price target on Nordstrom from $23.00 to $24.00 and gave the stock a “market perform” rating in a research note on Wednesday, August 28th. The Goldman Sachs Group raised their target price on shares of Nordstrom from $19.00 to $21.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 28th. Finally, StockNews.com raised shares of Nordstrom from a “hold” rating to a “buy” rating in a research note on Thursday, August 8th. Three analysts have rated the stock with a sell rating, ten have given a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, Nordstrom currently has an average rating of “Hold” and an average price target of $20.23.

Nordstrom 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.