Unigestion Holding SA lessened its holdings in shares of Nordstrom, Inc. (NYSE:JWN) by 26.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 102,772 shares of the specialty retailer’s stock after selling 36,290 shares during the quarter. Unigestion Holding SA’s holdings in Nordstrom were worth $6,147,000 as of its most recent SEC filing.
A number of other institutional investors have also modified their holdings of the stock. BlackRock Inc. raised its stake in Nordstrom by 7.1% during the 2nd quarter. BlackRock Inc. now owns 8,931,836 shares of the specialty retailer’s stock worth $462,490,000 after buying an additional 592,278 shares during the period. Bank of Montreal Can raised its stake in Nordstrom by 6.7% during the 3rd quarter. Bank of Montreal Can now owns 1,037,741 shares of the specialty retailer’s stock worth $62,067,000 after buying an additional 65,289 shares during the period. Schwab Charles Investment Management Inc. raised its stake in Nordstrom by 3.7% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 1,032,291 shares of the specialty retailer’s stock worth $53,453,000 after buying an additional 37,057 shares during the period. Schroder Investment Management Group raised its stake in Nordstrom by 39.9% during the 2nd quarter. Schroder Investment Management Group now owns 999,303 shares of the specialty retailer’s stock worth $52,344,000 after buying an additional 285,008 shares during the period. Finally, Millennium Management LLC raised its stake in Nordstrom by 199.1% during the 2nd quarter. Millennium Management LLC now owns 945,422 shares of the specialty retailer’s stock worth $48,954,000 after buying an additional 629,307 shares during the period. 55.85% of the stock is currently owned by institutional investors and hedge funds.
JWN has been the topic of several research analyst reports. Morgan Stanley raised their price objective on Nordstrom from $44.00 to $47.00 and gave the stock an “underweight” rating in a research note on Friday, August 17th. Citigroup raised their price objective on Nordstrom from $54.00 to $62.00 and gave the stock a “neutral” rating in a research note on Friday, August 17th. ValuEngine raised Nordstrom from a “hold” rating to a “buy” rating in a research note on Tuesday, September 4th. Nomura raised their price objective on Nordstrom from $54.00 to $59.00 and gave the stock a “neutral” rating in a research note on Friday, August 17th. Finally, Cowen reiterated a “hold” rating and set a $56.00 target price on shares of Nordstrom in a report on Friday, August 17th. Four analysts have rated the stock with a sell rating, thirteen have issued a hold rating and seven have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $56.50.
JWN stock opened at $65.46 on Friday. The stock has a market cap of $11.20 billion, a price-to-earnings ratio of 19.95, a PEG ratio of 3.10 and a beta of 0.59. The company has a debt-to-equity ratio of 2.35, a current ratio of 1.10 and a quick ratio of 0.54. Nordstrom, Inc. has a 1 year low of $38.40 and a 1 year high of $67.75.
Nordstrom (NYSE:JWN) last released its earnings results on Thursday, August 16th. The specialty retailer reported $0.95 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.84 by $0.11. The firm had revenue of $3.98 billion during the quarter, compared to analysts’ expectations of $3.96 billion. Nordstrom had a return on equity of 56.00% and a net margin of 3.24%. The company’s revenue was up 7.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.65 EPS. As a group, sell-side analysts forecast that Nordstrom, Inc. will post 3.58 earnings per share for the current year.
Nordstrom declared that its Board of Directors has authorized a stock buyback plan on Wednesday, August 22nd that authorizes the company to repurchase $1.50 billion in shares. This repurchase authorization authorizes the specialty retailer to buy up to 14.4% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.
In other news, VP Robert Sari sold 8,795 shares of the firm’s stock in a transaction dated Wednesday, October 10th. The stock was sold at an average price of $62.50, for a total value of $549,687.50. Following the completion of the transaction, the vice president now owns 14,960 shares in the company, valued at approximately $935,000. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Christine Deputy sold 11,534 shares of the firm’s stock in a transaction dated Monday, September 10th. The shares were sold at an average price of $65.87, for a total value of $759,744.58. Following the completion of the transaction, the insider now owns 76,463 shares of the company’s stock, valued at approximately $5,036,617.81. The disclosure for this sale can be found here. In the last quarter, insiders have sold 208,275 shares of company stock valued at $13,048,270. Corporate insiders own 7.05% of the company’s stock.
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Nordstrom, Inc, a fashion retailer, provides apparel, shoes, cosmetics, and accessories for women, men, young adults, and children in the United States and Canada. The company operates in two segments, Retail and Credit. The Retail segment offers a range of brand name and private label merchandise through various channels, including Nordstrom branded full-line stores and online store at Nordstrom.com; Nordstrom Rack stores; Nordstromrack.com and HauteLook; Trunk Club clubhouses and TrunkClub.com; Jeffrey boutiques; and clearance stores that operate under the Last Chance name.
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