Financial Engines Advisors L.L.C. increased its position in Nordstrom, Inc. (NYSE:JWN) by 1.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 81,342 shares of the specialty retailer’s stock after buying an additional 1,493 shares during the period. Financial Engines Advisors L.L.C. owned 0.05% of Nordstrom worth $3,610,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently modified their holdings of the company. CX Institutional purchased a new position in shares of Nordstrom in the 1st quarter worth $41,000. Quadrant Capital Group LLC bought a new stake in shares of Nordstrom during the 1st quarter valued at $48,000. Pinnacle Financial Partners Inc. bought a new stake in shares of Nordstrom during the 1st quarter valued at $51,000. Whittier Trust Co. bought a new stake in shares of Nordstrom during the 1st quarter valued at $53,000. Finally, Buffington Mohr McNeal bought a new stake in shares of Nordstrom during the 1st quarter valued at $54,000. Institutional investors own 62.27% of the company’s stock.
JWN stock traded down $0.05 during midday trading on Friday, reaching $32.61. 2,494,681 shares of the company’s stock traded hands, compared to its average volume of 3,375,373. The company has a debt-to-equity ratio of 6.34, a current ratio of 0.76 and a quick ratio of 0.24. Nordstrom, Inc. has a 52 week low of $30.55 and a 52 week high of $67.75. The stock has a market capitalization of $4.97 billion, a price-to-earnings ratio of 9.19, a PEG ratio of 1.60 and a beta of 0.66.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 18th. Stockholders of record on Monday, June 3rd will be issued a $0.37 dividend. The ex-dividend date is Friday, May 31st. This represents a $1.48 annualized dividend and a dividend yield of 4.54%. Nordstrom’s payout ratio is currently 41.69%.
In related news, insider Christine Deputy sold 13,124 shares of the company’s stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $42.61, for a total value of $559,213.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Peter E. Nordstrom sold 3,380 shares of the company’s stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $32.46, for a total transaction of $109,714.80. Following the sale, the insider now owns 2,530,989 shares of the company’s stock, valued at $82,155,902.94. The disclosure for this sale can be found here. In the last ninety days, insiders sold 33,629 shares of company stock worth $1,439,553. Insiders own 5.21% of the company’s stock.
Several brokerages have recently commented on JWN. Zacks Investment Research downgraded shares of Nordstrom from a “hold” rating to a “strong sell” rating in a research report on Friday, May 24th. Cowen decreased their price objective on Nordstrom from $44.00 to $36.00 and set a “market perform” rating on the stock in a report on Thursday, May 23rd. Bank of America decreased their price objective on Nordstrom from $40.00 to $32.00 and set an “underperform” rating on the stock in a report on Wednesday, May 22nd. Credit Suisse Group decreased their price objective on Nordstrom from $40.00 to $36.00 and set a “neutral” rating on the stock in a report on Wednesday, May 22nd. Finally, Robert W. Baird decreased their price target on Nordstrom from $45.00 to $38.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 22nd. Five investment analysts have rated the stock with a sell rating, fourteen have given a hold rating and three have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $43.57.
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.
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