Mutual of America Capital Management LLC boosted its stake in Nordstrom, Inc. (NYSE:JWN – Get Rating) by 2.2% during the 1st quarter, Holdings Channel reports. The institutional investor owned 101,705 shares of the specialty retailer’s stock after acquiring an additional 2,191 shares during the period. Mutual of America Capital Management LLC’s holdings in Nordstrom were worth $2,757,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Cambridge Investment Research Advisors Inc. increased its stake in Nordstrom by 124.6% during the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 39,360 shares of the specialty retailer’s stock worth $890,000 after purchasing an additional 21,837 shares during the period. Rhumbline Advisers increased its stake in Nordstrom by 2.6% during the fourth quarter. Rhumbline Advisers now owns 297,011 shares of the specialty retailer’s stock worth $6,718,000 after purchasing an additional 7,414 shares during the period. Russell Investments Group Ltd. increased its stake in Nordstrom by 1,420.9% during the fourth quarter. Russell Investments Group Ltd. now owns 92,745 shares of the specialty retailer’s stock worth $2,096,000 after purchasing an additional 86,647 shares during the period. Rafferty Asset Management LLC increased its stake in Nordstrom by 28.2% during the fourth quarter. Rafferty Asset Management LLC now owns 46,273 shares of the specialty retailer’s stock worth $1,047,000 after purchasing an additional 10,187 shares during the period. Finally, Yousif Capital Management LLC purchased a new stake in Nordstrom during the fourth quarter worth about $1,469,000. 57.27% of the stock is currently owned by hedge funds and other institutional investors.
Nordstrom Trading Up 1.4 %
NYSE:JWN opened at $22.45 on Thursday. The stock has a fifty day moving average price of $23.41 and a two-hundred day moving average price of $24.14. The stock has a market capitalization of $3.60 billion, a price-to-earnings ratio of 10.02, a PEG ratio of 1.19 and a beta of 2.25. The company has a debt-to-equity ratio of 4.85, a quick ratio of 0.31 and a current ratio of 0.99. Nordstrom, Inc. has a 1 year low of $18.65 and a 1 year high of $38.48.
Nordstrom (NYSE:JWN – Get Rating) last released its quarterly earnings data on Tuesday, May 24th. The specialty retailer reported ($0.06) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.08) by $0.02. The firm had revenue of $3.57 billion during the quarter, compared to analysts’ expectations of $3.29 billion. Nordstrom had a return on equity of 74.13% and a net margin of 2.37%. Nordstrom’s revenue was up 18.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.64) earnings per share. As a group, sell-side analysts anticipate that Nordstrom, Inc. will post 3.3 earnings per share for the current fiscal year.
Nordstrom Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Wednesday, June 15th. Stockholders of record on Tuesday, May 31st were given a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 3.39%. The ex-dividend date was Friday, May 27th. Nordstrom’s dividend payout ratio is currently 33.93%.
Nordstrom announced that its board has approved a share repurchase plan on Tuesday, May 24th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the specialty retailer to buy up to 15.2% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s leadership believes its shares are undervalued.
Wall Street Analyst Weigh In
JWN has been the topic of a number of recent research reports. Bank of America cut their price target on shares of Nordstrom from $21.00 to $15.00 and set an “underperform” rating on the stock in a research note on Thursday, July 7th. Piper Sandler started coverage on shares of Nordstrom in a research note on Friday, July 22nd. They set an “overweight” rating and a $28.00 target price on the stock. Morgan Stanley cut their target price on shares of Nordstrom from $22.00 to $17.00 and set an “underweight” rating on the stock in a research note on Thursday, May 26th. Deutsche Bank Aktiengesellschaft upped their target price on shares of Nordstrom from $31.00 to $32.00 in a research note on Wednesday, May 25th. Finally, Cowen lowered their price target on Nordstrom from $30.00 to $24.00 in a report on Wednesday, May 25th. Three equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $26.47.
In other news, CFO Anne L. Bramman sold 13,333 shares of the firm’s stock in a transaction on Thursday, May 26th. The stock was sold at an average price of $24.20, for a total value of $322,658.60. Following the completion of the transaction, the chief financial officer now owns 106,804 shares in the company, valued at $2,584,656.80. The sale was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 5.45% of the company’s stock.
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; TrunkClub.com; Nordstrom.ca; Nordstrom stores; Nordstrom Rack stores; Nordstrom Locals; Nordstromrack.com and HauteLook; clearance stores under the Last Chance name; Trunk Club clubhouses; and Jeffrey boutiques.
Receive News & Ratings for Nordstrom Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Nordstrom and related companies with MarketBeat.com’s FREE daily email newsletter.