Alerus Financial NA acquired a new stake in Nordstrom, Inc. (NYSE:JWN – Get Rating) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 14,911 shares of the specialty retailer’s stock, valued at approximately $337,000.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Counterpoint Mutual Funds LLC acquired a new position in Nordstrom during the fourth quarter worth $29,000. Charter Oak Capital Management LLC lifted its position in shares of Nordstrom by 209.1% during the 4th quarter. Charter Oak Capital Management LLC now owns 1,626 shares of the specialty retailer’s stock valued at $37,000 after acquiring an additional 1,100 shares during the period. Kozak & Associates Inc. purchased a new stake in shares of Nordstrom during the 3rd quarter worth approximately $45,000. Mine & Arao Wealth Creation & Management LLC. grew its holdings in shares of Nordstrom by 69.5% in the 4th quarter. Mine & Arao Wealth Creation & Management LLC. now owns 2,000 shares of the specialty retailer’s stock worth $45,000 after acquiring an additional 820 shares during the period. Finally, Spire Wealth Management increased its stake in Nordstrom by 2,243.0% in the 4th quarter. Spire Wealth Management now owns 2,507 shares of the specialty retailer’s stock valued at $57,000 after purchasing an additional 2,400 shares in the last quarter. 57.27% of the stock is currently owned by institutional investors.
In related news, CFO Anne L. Bramman sold 13,334 shares of the firm’s stock in a transaction that occurred on Monday, April 18th. The stock was sold at an average price of $28.74, for a total value of $383,219.16. Following the sale, the chief financial officer now owns 120,137 shares of the company’s stock, valued at approximately $3,452,737.38. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 5.45% of the company’s stock.
Nordstrom (NYSE:JWN – Get Rating) last issued its earnings results on Tuesday, May 24th. The specialty retailer reported ($0.06) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.01). Nordstrom had a return on equity of 70.74% and a net margin of 1.20%. The business had revenue of $3.57 billion for the quarter, compared to analyst estimates of $3.29 billion. During the same period last year, the company posted ($0.64) earnings per share. The firm’s revenue for the quarter was up 18.6% on a year-over-year basis. As a group, equities research analysts expect that Nordstrom, Inc. will post 3.3 EPS for the current year.
Nordstrom declared that its board has approved a stock repurchase program on Tuesday, May 24th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the specialty retailer to reacquire up to 15.2% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s management believes its shares are undervalued.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 15th. Investors of record on Tuesday, May 31st will be paid a dividend of $0.19 per share. The ex-dividend date of this dividend is Friday, May 27th. This represents a $0.76 annualized dividend and a yield of 3.32%. Nordstrom’s dividend payout ratio (DPR) is 71.70%.
JWN has been the topic of a number of analyst reports. Bank of America dropped their price objective on shares of Nordstrom from $26.00 to $21.00 and set an “underperform” rating on the stock in a research note on Wednesday. Cowen cut their price objective on shares of Nordstrom from $30.00 to $24.00 in a report on Wednesday. Zacks Investment Research upgraded Nordstrom from a “hold” rating to a “buy” rating and set a $26.00 target price for the company in a research note on Wednesday, May 18th. Deutsche Bank Aktiengesellschaft lifted their target price on Nordstrom from $31.00 to $32.00 in a research report on Wednesday. Finally, Telsey Advisory Group increased their price target on Nordstrom from $27.00 to $30.00 and gave the company a “market perform” rating in a report on Wednesday, March 2nd. Four research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $27.71.
Nordstrom Profile (Get Rating)
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.
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