Elkfork Partners LLC boosted its holdings in shares of Nordstrom, Inc. (NYSE:JWN) by 70.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 18,612 shares of the specialty retailer’s stock after buying an additional 7,678 shares during the period. Elkfork Partners LLC’s holdings in Nordstrom were worth $593,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently bought and sold shares of JWN. Capital Investment Advisory Services LLC bought a new stake in shares of Nordstrom in the 2nd quarter worth $29,000. Edge Wealth Management LLC grew its position in Nordstrom by 100.0% during the second quarter. Edge Wealth Management LLC now owns 1,000 shares of the specialty retailer’s stock valued at $32,000 after buying an additional 500 shares during the period. Resources Investment Advisors LLC. bought a new position in Nordstrom during the second quarter valued at about $35,000. Zions Bancorporation N.A. bought a new position in Nordstrom during the first quarter valued at about $41,000. Finally, Steward Partners Investment Advisory LLC bought a new position in Nordstrom during the second quarter valued at about $47,000. Hedge funds and other institutional investors own 64.25% of the company’s stock.
Shares of Nordstrom stock opened at $32.89 on Friday. The company has a debt-to-equity ratio of 5.39, a quick ratio of 0.35 and a current ratio of 0.79. Nordstrom, Inc. has a 52-week low of $25.01 and a 52-week high of $67.75. The stock has a market capitalization of $4.99 billion, a price-to-earnings ratio of 9.26, a P/E/G ratio of 1.61 and a beta of 0.70. The company’s 50 day moving average price is $30.12 and its 200-day moving average price is $35.11.
Nordstrom (NYSE:JWN) last issued its earnings results on Wednesday, August 21st. The specialty retailer reported $0.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.76 by $0.14. The firm had revenue of $3.87 billion for the quarter, compared to analysts’ expectations of $3.92 billion. Nordstrom had a net margin of 3.17% and a return on equity of 62.11%. The business’s revenue was down 4.8% on a year-over-year basis. During the same quarter last year, the business earned $0.95 earnings per share. As a group, equities research analysts forecast that Nordstrom, Inc. will post 3.34 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Friday, August 30th were issued a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 4.50%. The ex-dividend date was Thursday, August 29th. Nordstrom’s dividend payout ratio (DPR) is currently 41.69%.
Several equities analysts recently weighed in on the stock. Wedbush set a $24.00 price target on shares of Nordstrom and gave the company a “hold” rating in a research report on Thursday, August 22nd. Bank of America reiterated an “underperform” rating and set a $29.00 target price (down previously from $32.00) on shares of Nordstrom in a research report on Thursday, August 22nd. Telsey Advisory Group cut their target price on shares of Nordstrom from $35.00 to $32.00 and set a “market perform” rating for the company in a research report on Thursday, August 22nd. UBS Group downgraded shares of Nordstrom from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $65.00 to $33.00 in a report on Tuesday, July 2nd. Finally, Goldman Sachs Group downgraded shares of Nordstrom from a “neutral” rating to a “sell” rating and lowered their price target for the stock from $37.00 to $30.00 in a report on Thursday, June 27th. Five equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and one has issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $38.19.
In related news, insider Christine Deputy sold 1,906 shares of Nordstrom stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $28.53, for a total value of $54,378.18. Following the sale, the insider now owns 56,913 shares in the company, valued at $1,623,727.89. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 5.21% of the company’s stock.
Nordstrom, Inc, a fashion retailer, provides apparel, shoes, cosmetics, and accessories 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 full-line stores and online store at Nordstrom.com; Nordstrom Rack stores; Nordstromrack.com and HauteLook; Jeffrey boutiques; clearance stores that operate under the Last Chance name; Trunk Club clubhouses and TrunkClub.com; and Nordstrom Locals.
See Also: Dividend Aristocrat Index
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.