Franklin Resources Inc. Buys 11,583 Shares of Nordstrom, Inc. (NYSE:JWN)

Franklin Resources Inc. lifted its stake in shares of Nordstrom, Inc. (NYSE:JWN) by 29.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 50,294 shares of the specialty retailer’s stock after purchasing an additional 11,583 shares during the quarter. Franklin Resources Inc.’s holdings in Nordstrom were worth $1,152,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Venturi Wealth Management LLC increased its stake in Nordstrom by 355.9% during the 3rd quarter. Venturi Wealth Management LLC now owns 1,272 shares of the specialty retailer’s stock valued at $29,000 after purchasing an additional 993 shares in the last quarter. Atlas Capital Advisors LLC raised its holdings in shares of Nordstrom by 101.8% in the 2nd quarter. Atlas Capital Advisors LLC now owns 1,491 shares of the specialty retailer’s stock worth $32,000 after acquiring an additional 752 shares during the last quarter. Rothschild Investment LLC bought a new position in Nordstrom in the 2nd quarter valued at about $39,000. Point72 Hong Kong Ltd acquired a new position in Nordstrom during the 2nd quarter valued at about $71,000. Finally, Blue Trust Inc. increased its holdings in Nordstrom by 57.7% during the 3rd quarter. Blue Trust Inc. now owns 3,839 shares of the specialty retailer’s stock worth $81,000 after purchasing an additional 1,404 shares in the last quarter. 88.73% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts recently issued reports on the company. Telsey Advisory Group cut their target price on Nordstrom from $26.00 to $24.00 and set a “market perform” rating on the stock in a research report on Tuesday, December 24th. StockNews.com lowered shares of Nordstrom from a “strong-buy” rating to a “buy” rating in a research note on Thursday, December 5th. Citigroup raised their price target on shares of Nordstrom from $22.00 to $23.00 and gave the company a “neutral” rating in a research report on Tuesday, November 19th. KeyCorp downgraded shares of Nordstrom from an “overweight” rating to a “sector weight” rating in a research report on Thursday, September 26th. Finally, Bank of America lifted their target price on shares of Nordstrom from $20.00 to $22.00 and gave the stock an “underperform” rating in a research report on Wednesday, November 27th. Three equities research analysts have rated the stock with a sell rating, ten have given a hold rating and one has issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $21.13.

Nordstrom Stock Down 0.0 %

Shares of NYSE JWN opened at $24.21 on Friday. The company has a quick ratio of 0.35, a current ratio of 1.14 and a debt-to-equity ratio of 2.65. The company has a market cap of $3.99 billion, a P/E ratio of 15.42 and a beta of 2.56. Nordstrom, Inc. has a 52 week low of $16.63 and a 52 week high of $24.99. The business has a 50-day simple moving average of $23.19 and a two-hundred day simple moving average of $22.52.

Nordstrom (NYSE:JWN) last released its quarterly earnings data on Tuesday, November 26th. The specialty retailer reported $0.33 EPS for the quarter, beating analysts’ consensus estimates of $0.22 by $0.11. The company had revenue of $3.35 billion during the quarter, compared to analyst estimates of $3.34 billion. Nordstrom had a negative net margin of 1.57% and a negative return on equity of 18.04%. Nordstrom’s revenue was up 4.6% compared to the same quarter last year. During the same period last year, the business earned $0.25 earnings per share. Research analysts anticipate that Nordstrom, Inc. will post 1.94 earnings per share for the current fiscal year.

Nordstrom Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, December 18th. Stockholders of record on Tuesday, December 3rd were issued a $0.19 dividend. The ex-dividend date of this dividend was Tuesday, December 3rd. This represents a $0.76 annualized dividend and a dividend yield of 3.14%. Nordstrom’s payout ratio is currently 48.41%.

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.