Crossmark Global Holdings Inc. Invests $835,000 in Nordstrom, Inc. (NYSE:JWN)

Crossmark Global Holdings Inc. purchased a new position in shares of Nordstrom, Inc. (NYSE:JWN) in the 3rd quarter, Holdings Channel.com reports. The firm purchased 37,133 shares of the specialty retailer’s stock, valued at approximately $835,000.

Several other hedge funds have also recently added to or reduced their stakes in the company. American Century Companies Inc. grew its holdings in shares of Nordstrom by 66.2% during the second quarter. American Century Companies Inc. now owns 1,661,227 shares of the specialty retailer’s stock worth $35,251,000 after buying an additional 661,769 shares in the last quarter. Vanguard Group Inc. grew its stake in Nordstrom by 5.7% during the 1st quarter. Vanguard Group Inc. now owns 10,653,007 shares of the specialty retailer’s stock valued at $215,936,000 after acquiring an additional 579,001 shares in the last quarter. Marshall Wace LLP raised its holdings in Nordstrom by 38.4% in the 2nd quarter. Marshall Wace LLP now owns 1,479,414 shares of the specialty retailer’s stock valued at $31,393,000 after acquiring an additional 410,152 shares during the last quarter. NewSquare Capital LLC purchased a new position in Nordstrom in the 2nd quarter worth approximately $7,783,000. Finally, Axiom Advisory LLC boosted its holdings in shares of Nordstrom by 46.0% during the 3rd quarter. Axiom Advisory LLC now owns 1,100,864 shares of the specialty retailer’s stock worth $24,456,000 after purchasing an additional 346,994 shares during the last quarter. 88.73% of the stock is owned by institutional investors and hedge funds.

Nordstrom Stock Performance

Shares of Nordstrom stock opened at $23.02 on Friday. The stock has a market capitalization of $3.78 billion, a price-to-earnings ratio of 13.46 and a beta of 2.59. The company has a debt-to-equity ratio of 2.76, a current ratio of 1.07 and a quick ratio of 0.41. The business has a 50-day moving average of $22.73 and a 200 day moving average of $22.00. Nordstrom, Inc. has a 12 month low of $13.68 and a 12 month high of $24.93.

Nordstrom (NYSE:JWN) last posted its quarterly earnings data on Tuesday, August 27th. The specialty retailer reported $0.96 EPS for the quarter, beating the consensus estimate of $0.71 by $0.25. Nordstrom had a negative net margin of 1.44% and a negative return on equity of 21.26%. The business had revenue of $3.89 billion during the quarter, compared to analyst estimates of $3.88 billion. During the same quarter last year, the firm posted $0.84 earnings per share. The business’s revenue for the quarter was up 3.2% compared to the same quarter last year. As a group, sell-side analysts forecast that Nordstrom, Inc. will post 1.88 earnings per share for the current year.

Nordstrom Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 18th. Stockholders of record on Tuesday, September 3rd were given a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 3.30%. The ex-dividend date was Tuesday, September 3rd. Nordstrom’s dividend payout ratio is currently 44.44%.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on JWN. Bank of America lifted their price objective on Nordstrom from $18.00 to $20.00 and gave the stock an “underperform” rating in a research report on Wednesday, August 28th. JPMorgan Chase & Co. upped their price objective on shares of Nordstrom from $19.00 to $20.00 and gave the company an “underweight” rating in a report on Wednesday, August 28th. StockNews.com raised shares of Nordstrom from a “hold” rating to a “buy” rating in a research note on Thursday, August 8th. Barclays raised shares of Nordstrom from an “underweight” rating to an “equal weight” rating and increased their price target for the company from $18.00 to $23.00 in a research note on Thursday, September 5th. Finally, TD Cowen lifted their price target on shares of Nordstrom from $24.00 to $25.00 and gave the company a “hold” rating in a research report on Wednesday, August 28th. Three research analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, Nordstrom has an average rating of “Hold” and a consensus target price of $20.33.

Insider Transactions at Nordstrom

In related news, COO Alexis Depree sold 20,000 shares of the business’s stock in a transaction on Tuesday, September 24th. The stock was sold at an average price of $23.20, for a total transaction of $464,000.00. Following the completion of the transaction, the chief operating officer now directly owns 169,331 shares of the company’s stock, valued at $3,928,479.20. The trade was a 10.56 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 5.78% of the company’s stock.

About Nordstrom

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; Nordstrom.ca; Nordstrom stores; Nordstrom Rack stores; Nordstrom Locals; ASOS; Nordstromrack.com; mobile application; and clearance stores under the Last Chance name.