Geode Capital Management LLC Boosts Stock Position in Nordstrom, Inc. (NYSE:JWN)

Geode Capital Management LLC increased its holdings in Nordstrom, Inc. (NYSE:JWN) by 0.3% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,625,616 shares of the specialty retailer’s stock after purchasing an additional 5,407 shares during the period. Geode Capital Management LLC owned approximately 0.99% of Nordstrom worth $36,570,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Raymond James & Associates grew its position in Nordstrom by 2.0% in the second quarter. Raymond James & Associates now owns 91,157 shares of the specialty retailer’s stock worth $1,934,000 after acquiring an additional 1,747 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Nordstrom by 11.5% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 21,790 shares of the specialty retailer’s stock valued at $462,000 after purchasing an additional 2,244 shares during the last quarter. Arjuna Capital purchased a new position in shares of Nordstrom in the 2nd quarter worth approximately $1,518,000. Atlas Capital Advisors LLC increased its position in shares of Nordstrom by 101.8% during the 2nd quarter. Atlas Capital Advisors LLC now owns 1,491 shares of the specialty retailer’s stock valued at $32,000 after purchasing an additional 752 shares during the last quarter. Finally, Rothschild Investment LLC purchased a new stake in Nordstrom during the 2nd quarter valued at $39,000. Hedge funds and other institutional investors own 88.73% of the company’s stock.

Analyst Upgrades and Downgrades

JWN has been the subject of a number of recent analyst reports. StockNews.com cut shares of Nordstrom from a “strong-buy” rating to a “buy” rating in a research note on Thursday, December 5th. The Goldman Sachs Group upped their target price on Nordstrom from $19.00 to $21.00 and gave the company a “neutral” rating in a research note on Wednesday, August 28th. Citigroup raised their price target on Nordstrom from $22.00 to $23.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 19th. KeyCorp downgraded Nordstrom from an “overweight” rating to a “sector weight” rating in a research report on Thursday, September 26th. Finally, JPMorgan Chase & Co. lifted their target price on Nordstrom from $19.00 to $20.00 and gave the stock an “underweight” rating in a research report on Wednesday, August 28th. Three analysts have rated the stock with a sell rating, ten have issued a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $21.13.

Nordstrom Stock Performance

Shares of JWN stock opened at $24.21 on Wednesday. The stock has a market capitalization of $3.99 billion, a PE ratio of 15.42 and a beta of 2.56. The firm has a 50 day moving average of $23.21 and a two-hundred day moving average of $22.45. Nordstrom, Inc. has a 52 week low of $16.63 and a 52 week high of $24.99. The company has a quick ratio of 0.35, a current ratio of 1.14 and a debt-to-equity ratio of 2.65.

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

Nordstrom Announces Dividend

The firm also recently announced 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 was Tuesday, December 3rd. This represents a $0.76 dividend on an annualized basis and a dividend yield of 3.14%. Nordstrom’s payout ratio is 48.41%.

Nordstrom Company 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.