Zurcher Kantonalbank Zurich Cantonalbank Purchases 2,244 Shares of Nordstrom, Inc. (NYSE:JWN)

Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Nordstrom, Inc. (NYSE:JWN) by 11.5% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 21,790 shares of the specialty retailer’s stock after purchasing an additional 2,244 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Nordstrom were worth $462,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. CANADA LIFE ASSURANCE Co lifted its stake in 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 last quarter. State of Michigan Retirement System increased its stake in Nordstrom by 2.6% in the first quarter. State of Michigan Retirement System now owns 23,908 shares of the specialty retailer’s stock valued at $485,000 after acquiring an additional 600 shares during the last quarter. Personal CFO Solutions LLC increased its stake in Nordstrom by 5.7% in the fourth quarter. Personal CFO Solutions LLC now owns 11,882 shares of the specialty retailer’s stock valued at $219,000 after acquiring an additional 636 shares during the last quarter. Hexagon Capital Partners LLC increased its stake in Nordstrom by 33.1% in the first quarter. Hexagon Capital Partners LLC now owns 2,648 shares of the specialty retailer’s stock valued at $54,000 after acquiring 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 acquiring an additional 800 shares during the last quarter. Institutional investors own 88.73% of the company’s stock.

Nordstrom Stock Performance

Shares of JWN stock opened at $22.82 on Friday. The company has a 50 day moving average price of $22.10 and a 200-day moving average price of $20.79. Nordstrom, Inc. has a 52 week low of $12.88 and a 52 week high of $24.03. The firm has a market capitalization of $3.73 billion, a PE ratio of 12.47, a P/E/G ratio of 2.41 and a beta of 2.61. The company has a quick ratio of 0.36, a current ratio of 1.07 and a debt-to-equity ratio of 2.76.

Nordstrom (NYSE:JWN) last issued its quarterly earnings results on Tuesday, August 27th. The specialty retailer reported $0.96 earnings per share 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 for the quarter, compared to the consensus estimate of $3.88 billion. During the same quarter in the previous year, the firm earned $0.84 earnings per share. The company’s revenue for the quarter was up 3.2% on a year-over-year basis. As a group, equities research analysts expect that Nordstrom, Inc. will post 1.9 earnings per share for the current year.

Nordstrom Announces Dividend

The firm 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 $0.19 dividend. 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 is presently 41.53%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on JWN shares. Bank of America raised their target price on shares of Nordstrom from $18.00 to $20.00 and gave the company an “underperform” rating in a research report on Wednesday, August 28th. Telsey Advisory Group lifted their target price on shares of Nordstrom from $23.00 to $24.00 and gave the stock a “market perform” rating in a research note on Wednesday, August 28th. JPMorgan Chase & Co. lifted their price target on shares of Nordstrom from $19.00 to $20.00 and gave the company an “underweight” rating in a research note on Wednesday, August 28th. Evercore ISI lifted their price target on shares of Nordstrom from $17.00 to $19.00 and gave the company an “in-line” rating in a research note on Friday, May 31st. Finally, The Goldman Sachs Group lifted their price target on shares of Nordstrom from $19.00 to $21.00 and gave the company a “neutral” rating in a research note on Wednesday, August 28th. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $20.23.

Nordstrom Company 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.