JPMorgan Chase & Co. Purchases 89,114 Shares of Nordstrom, Inc. (NYSE:JWN)

JPMorgan Chase & Co. grew its position in Nordstrom, Inc. (NYSE:JWN) by 29.7% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 388,796 shares of the specialty retailer’s stock after acquiring an additional 89,114 shares during the quarter. JPMorgan Chase & Co. owned 0.24% of Nordstrom worth $8,744,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also added to or reduced their stakes in the company. Venturi Wealth Management LLC increased its stake in Nordstrom by 355.9% in the 3rd quarter. Venturi Wealth Management LLC now owns 1,272 shares of the specialty retailer’s stock worth $29,000 after acquiring an additional 993 shares during the last quarter. Point72 Hong Kong Ltd bought a new position in shares of Nordstrom during the 2nd quarter valued at approximately $71,000. Blue Trust Inc. increased its position in shares of Nordstrom by 57.7% during the 3rd quarter. Blue Trust Inc. now owns 3,839 shares of the specialty retailer’s stock valued at $81,000 after purchasing an additional 1,404 shares during the last quarter. CWM LLC increased its position in shares of Nordstrom by 28.7% during the 3rd quarter. CWM LLC now owns 3,628 shares of the specialty retailer’s stock valued at $82,000 after purchasing an additional 810 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale increased its position in shares of Nordstrom by 70.5% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 5,387 shares of the specialty retailer’s stock valued at $112,000 after purchasing an additional 2,227 shares during the last quarter. Institutional investors own 88.73% of the company’s stock.

Nordstrom Price Performance

Shares of JWN stock opened at $24.16 on Tuesday. Nordstrom, Inc. has a twelve month low of $16.78 and a twelve month high of $24.99. The stock has a market capitalization of $3.99 billion, a price-to-earnings ratio of 15.39 and a beta of 2.52. The stock has a fifty day simple moving average of $23.43 and a two-hundred day simple moving average of $22.74. The company has a current ratio of 1.14, a quick ratio of 0.35 and a debt-to-equity ratio of 2.65.

Nordstrom (NYSE:JWN) last issued its earnings results on Tuesday, November 26th. The specialty retailer reported $0.33 earnings per share for the quarter, topping the consensus estimate of $0.22 by $0.11. Nordstrom had a negative return on equity of 18.04% and a negative net margin of 1.57%. The business had revenue of $3.35 billion during the quarter, compared to analysts’ expectations of $3.34 billion. During the same period in the prior year, the business earned $0.25 EPS. The business’s revenue for the quarter was up 4.6% compared to the same quarter last year. On average, analysts predict that Nordstrom, Inc. will post 1.94 EPS for the current fiscal year.

Nordstrom Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 18th. Investors of record on Tuesday, December 3rd were paid a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 3.15%. The ex-dividend date of this dividend was Tuesday, December 3rd. Nordstrom’s dividend payout ratio (DPR) is currently 48.41%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Bank of America boosted their target price on Nordstrom from $20.00 to $22.00 and gave the company an “underperform” rating in a research report on Wednesday, November 27th. UBS Group raised Nordstrom from a “sell” rating to a “neutral” rating and boosted their target price for the company from $14.50 to $24.00 in a research report on Friday. Evercore ISI boosted their target price on Nordstrom from $22.00 to $24.00 and gave the company an “in-line” rating in a research report on Monday. KeyCorp downgraded Nordstrom from an “overweight” rating to a “sector weight” rating in a research report on Thursday, September 26th. Finally, Citigroup boosted their price objective on Nordstrom from $22.00 to $23.00 and gave the company a “neutral” rating in a report on Tuesday, November 19th. Three equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $22.08.

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.