Rowland & Co. Investment Counsel ADV Cuts Stake in Nordstrom, Inc. (NYSE:JWN)

Rowland & Co. Investment Counsel ADV lowered its stake in shares of Nordstrom, Inc. (NYSE:JWNGet Rating) by 55.2% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 8,911 shares of the specialty retailer’s stock after selling 10,961 shares during the period. Rowland & Co. Investment Counsel ADV’s holdings in Nordstrom were worth $202,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Counterpoint Mutual Funds LLC bought a new position in shares of Nordstrom in the 4th quarter worth approximately $29,000. Charter Oak Capital Management LLC increased its holdings in Nordstrom by 209.1% in the 4th quarter. Charter Oak Capital Management LLC now owns 1,626 shares of the specialty retailer’s stock worth $37,000 after acquiring an additional 1,100 shares in the last quarter. Kozak & Associates Inc. purchased a new stake in Nordstrom in the 3rd quarter worth approximately $45,000. Mine & Arao Wealth Creation & Management LLC. increased its holdings in 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 in the last quarter. Finally, Spire Wealth Management increased its holdings in Nordstrom by 2,243.0% in the 4th quarter. Spire Wealth Management now owns 2,507 shares of the specialty retailer’s stock worth $57,000 after acquiring an additional 2,400 shares in the last quarter. Institutional investors and hedge funds own 57.27% of the company’s stock.

Shares of JWN stock traded up $1.00 during trading hours on Thursday, hitting $24.58. 285,629 shares of the company’s stock were exchanged, compared to its average volume of 6,401,957. The company has a quick ratio of 0.27, a current ratio of 0.96 and a debt-to-equity ratio of 4.91. The firm has a market cap of $3.92 billion, a P/E ratio of 23.19, a P/E/G ratio of 1.14 and a beta of 2.25. The firm has a 50 day moving average of $26.16 and a two-hundred day moving average of $24.52. Nordstrom, Inc. has a fifty-two week low of $18.65 and a fifty-two week high of $38.48.

Nordstrom (NYSE:JWNGet Rating) last issued its quarterly earnings results on Tuesday, May 24th. The specialty retailer reported ($0.06) EPS for the quarter, missing the consensus estimate of ($0.05) by ($0.01). Nordstrom had a return on equity of 70.74% and a net margin of 1.20%. The firm had revenue of $3.57 billion for the quarter, compared to analysts’ expectations of $3.29 billion. During the same quarter in the previous year, the firm posted ($0.64) earnings per share. The firm’s revenue for the quarter was up 18.6% compared to the same quarter last year. On average, equities analysts forecast that Nordstrom, Inc. will post 3.3 earnings per share for the current fiscal year.

Nordstrom declared that its Board of Directors has authorized a share repurchase plan on Tuesday, May 24th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the specialty retailer to buy up to 15.2% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board believes its stock is undervalued.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 15th. Investors of record on Tuesday, May 31st will be issued a $0.19 dividend. The ex-dividend date of this dividend is Friday, May 27th. This represents a $0.76 annualized dividend and a yield of 3.09%. Nordstrom’s dividend payout ratio (DPR) is currently 71.70%.

In other news, CFO Anne L. Bramman sold 13,334 shares of the business’s stock in a transaction that occurred on Monday, April 18th. The shares were sold at an average price of $28.74, for a total value of $383,219.16. Following the sale, the chief financial officer now directly owns 120,137 shares of the company’s stock, valued at approximately $3,452,737.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 5.45% of the company’s stock.

Several equities research analysts recently issued reports on JWN shares. Deutsche Bank Aktiengesellschaft increased their target price on shares of Nordstrom from $31.00 to $32.00 in a report on Wednesday. Citigroup reduced their target price on shares of Nordstrom from $27.00 to $22.00 and set a “neutral” rating for the company in a report on Wednesday. Telsey Advisory Group increased their price objective on shares of Nordstrom from $27.00 to $30.00 and gave the company a “market perform” rating in a report on Wednesday, March 2nd. BMO Capital Markets increased their price objective on shares of Nordstrom from $23.00 to $30.00 and gave the company a “market perform” rating in a report on Wednesday, March 2nd. Finally, StockNews.com started coverage on shares of Nordstrom in a report on Thursday, March 31st. They set a “buy” rating for the company. Four equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, Nordstrom presently has an average rating of “Hold” and an average target price of $27.24.

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.

See Also

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Institutional Ownership by Quarter for Nordstrom (NYSE:JWN)

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