Blue Trust Inc. Increases Holdings in Nordstrom, Inc. (NYSE:JWN)

Blue Trust Inc. increased its stake in Nordstrom, Inc. (NYSE:JWN) by 51.9% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 5,832 shares of the specialty retailer’s stock after buying an additional 1,993 shares during the quarter. Blue Trust Inc.’s holdings in Nordstrom were worth $131,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in JWN. Hennessy Advisors Inc. purchased a new position in Nordstrom in the fourth quarter valued at about $56,026,000. Verition Fund Management LLC raised its holdings in shares of Nordstrom by 147.4% in the 3rd quarter. Verition Fund Management LLC now owns 1,218,365 shares of the specialty retailer’s stock worth $27,401,000 after purchasing an additional 725,803 shares during the period. Cyndeo Wealth Partners LLC purchased a new position in Nordstrom in the third quarter valued at approximately $6,248,000. Hotchkis & Wiley Capital Management LLC bought a new position in Nordstrom during the third quarter valued at $6,171,000. Finally, Charles Schwab Investment Management Inc. increased its position in Nordstrom by 17.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,422,856 shares of the specialty retailer’s stock worth $32,000,000 after buying an additional 208,193 shares during the last quarter. Institutional investors own 88.73% of the company’s stock.

Analyst Upgrades and Downgrades

JWN has been the topic of a number of recent research reports. Citigroup upped their price target on Nordstrom from $22.00 to $23.00 and gave the company a “neutral” rating in a research report on Tuesday, November 19th. UBS Group raised shares of Nordstrom from a “sell” rating to a “neutral” rating and upped their price objective for the company from $14.50 to $24.00 in a report on Friday, January 10th. Argus downgraded shares of Nordstrom from a “buy” rating to a “sell” rating in a research note on Monday, December 30th. StockNews.com started coverage on shares of Nordstrom in a research note on Monday. They set a “buy” rating on the stock. Finally, Barclays lifted their price objective on shares of Nordstrom from $23.00 to $24.00 and gave the company an “equal weight” rating in a research note on Thursday, January 16th. Three 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. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $22.17.

Nordstrom Trading Up 0.1 %

Nordstrom stock opened at $24.28 on Thursday. The stock has a market cap of $4.01 billion, a P/E ratio of 15.47 and a beta of 2.51. Nordstrom, Inc. has a fifty-two week low of $16.78 and a fifty-two week high of $24.99. The firm’s fifty day moving average price is $23.82 and its 200-day moving average price is $22.95. The company has a debt-to-equity ratio of 2.65, a quick ratio of 0.35 and a current ratio of 1.14.

Nordstrom (NYSE:JWN) last released its quarterly earnings results on Tuesday, November 26th. The specialty retailer reported $0.33 earnings per share for the quarter, beating 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 firm had revenue of $3.35 billion for the quarter, compared to analysts’ expectations of $3.34 billion. During the same quarter last year, the firm posted $0.25 EPS. The company’s revenue was up 4.6% compared to the same quarter last year. Equities research analysts forecast that Nordstrom, Inc. will post 1.97 earnings per share for the current fiscal year.

Nordstrom Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, December 18th. Shareholders of record on Tuesday, December 3rd were given a dividend of $0.19 per share. The ex-dividend date of this dividend was Tuesday, December 3rd. This represents a $0.76 annualized dividend and a yield of 3.13%. Nordstrom’s payout ratio is presently 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.