Nordstrom, Inc. (NYSE:JWN) Shares Purchased by Raymond James & Associates

Raymond James & Associates raised its stake in Nordstrom, Inc. (NYSE:JWN) by 2.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 91,157 shares of the specialty retailer’s stock after purchasing an additional 1,747 shares during the period. Raymond James & Associates owned 0.06% of Nordstrom worth $1,934,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. CANADA LIFE ASSURANCE Co boosted its position in shares of Nordstrom by 0.6% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 90,144 shares of the specialty retailer’s stock valued at $1,828,000 after purchasing an additional 520 shares during the period. State of Michigan Retirement System raised its position in Nordstrom by 2.6% in the 1st quarter. State of Michigan Retirement System now owns 23,908 shares of the specialty retailer’s stock valued at $485,000 after purchasing an additional 600 shares during the last quarter. Personal CFO Solutions LLC boosted its stake in Nordstrom by 5.7% during the 4th quarter. Personal CFO Solutions LLC now owns 11,882 shares of the specialty retailer’s stock worth $219,000 after purchasing an additional 636 shares during the period. Hexagon Capital Partners LLC grew its position in Nordstrom by 33.1% during the 1st quarter. Hexagon Capital Partners LLC now owns 2,648 shares of the specialty retailer’s stock worth $54,000 after purchasing an additional 659 shares during the last quarter. Finally, Louisiana State Employees Retirement System increased its stake in Nordstrom by 2.9% in the first quarter. Louisiana State Employees Retirement System now owns 28,000 shares of the specialty retailer’s stock valued at $568,000 after purchasing an additional 800 shares during the period. Institutional investors and hedge funds own 88.73% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. Evercore ISI raised their price target on Nordstrom from $17.00 to $19.00 and gave the stock an “in-line” rating in a report on Friday, May 31st. The Goldman Sachs Group boosted their target price on Nordstrom from $19.00 to $21.00 and gave the company a “neutral” rating in a report on Wednesday, August 28th. TD Cowen increased their price target on Nordstrom from $24.00 to $25.00 and gave the stock a “hold” rating in a report on Wednesday, August 28th. Telsey Advisory Group lifted their price objective on shares of Nordstrom from $23.00 to $24.00 and gave the company a “market perform” rating in a research report on Wednesday, August 28th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Nordstrom from $19.00 to $20.00 and gave the stock an “underweight” rating in a research report on Wednesday, August 28th. Four research analysts have rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, Nordstrom presently has an average rating of “Hold” and a consensus price target of $19.85.

Nordstrom Stock Performance

NYSE:JWN opened at $22.82 on Wednesday. The company has a current ratio of 1.07, a quick ratio of 0.36 and a debt-to-equity ratio of 2.76. The company has a market capitalization of $3.73 billion, a P/E ratio of 12.43, a price-to-earnings-growth ratio of 2.41 and a beta of 2.62. The firm has a 50-day moving average price of $21.97 and a two-hundred day moving average price of $20.72. Nordstrom, Inc. has a twelve month low of $12.88 and a twelve month high of $24.03.

Nordstrom (NYSE:JWN) last issued its quarterly earnings data on Tuesday, August 27th. The specialty retailer reported $0.96 earnings per share for the quarter, topping analysts’ consensus estimates 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 analysts’ expectations of $3.88 billion. During the same period last year, the company posted $0.84 EPS. The company’s revenue was up 3.2% on a year-over-year basis. As a group, research analysts expect that Nordstrom, Inc. will post 1.9 earnings per share for the current fiscal year.

Nordstrom Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 18th. Investors of record on Tuesday, September 3rd will be given a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 3.33%. The ex-dividend date of this dividend is Tuesday, September 3rd. Nordstrom’s dividend payout ratio (DPR) is 41.53%.

Nordstrom Profile

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.