Dimensional Fund Advisors LP Increases Stock Holdings in Nordstrom, Inc. (NYSE:JWN)

Dimensional Fund Advisors LP increased its holdings in shares of Nordstrom, Inc. (NYSE:JWN) by 4.6% during the second quarter, HoldingsChannel.com reports. The fund owned 3,136,639 shares of the specialty retailer’s stock after buying an additional 137,094 shares during the quarter. Dimensional Fund Advisors LP’s holdings in Nordstrom were worth $66,557,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Register Financial Advisors LLC bought a new stake in shares of Nordstrom in the first quarter valued at $30,000. Atlas Capital Advisors LLC grew its position in shares of Nordstrom by 101.8% in the second quarter. Atlas Capital Advisors LLC now owns 1,491 shares of the specialty retailer’s stock valued at $32,000 after purchasing an additional 752 shares in the last quarter. Rothschild Investment LLC purchased a new position in Nordstrom during the second quarter worth about $39,000. Blue Trust Inc. grew its position in Nordstrom by 10,045.8% during the second quarter. Blue Trust Inc. now owns 2,435 shares of the specialty retailer’s stock worth $49,000 after buying an additional 2,411 shares in the last quarter. Finally, Hexagon Capital Partners LLC boosted its holdings in shares of Nordstrom by 33.1% in 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 in the last quarter. 88.73% of the stock is currently owned by institutional investors.

Nordstrom Price Performance

Shares of Nordstrom stock opened at $22.20 on Friday. The stock’s 50-day simple moving average is $22.15 and its 200-day simple moving average is $21.05. Nordstrom, Inc. has a 52 week low of $12.88 and a 52 week high of $24.03. The company has a market capitalization of $3.63 billion, a price-to-earnings ratio of 12.13 and a beta of 2.61. The company has a quick ratio of 0.41, a current ratio of 1.07 and a debt-to-equity ratio of 2.76.

Nordstrom (NYSE:JWN) last posted its earnings results on Tuesday, August 27th. The specialty retailer reported $0.96 EPS for the quarter, topping analysts’ consensus estimates of $0.71 by $0.25. Nordstrom had a negative return on equity of 21.26% and a negative net margin of 1.44%. The company had revenue of $3.89 billion for the quarter, compared to the consensus estimate of $3.88 billion. During the same period in the previous year, the business earned $0.84 earnings per share. The firm’s revenue for the quarter was up 3.2% on a year-over-year basis. As a group, analysts expect that Nordstrom, Inc. will post 1.9 earnings per share for the current fiscal year.

Nordstrom Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 18th. Investors of record on Tuesday, September 3rd were issued a dividend of $0.19 per share. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $0.76 annualized dividend and a yield of 3.42%. Nordstrom’s payout ratio is presently 41.53%.

Analyst Ratings Changes

A number of research firms have recently issued reports on JWN. BMO Capital Markets upped their price objective on Nordstrom from $20.00 to $22.00 and gave the stock a “market perform” rating in a report on Wednesday, August 28th. TD Cowen increased their target price on Nordstrom from $24.00 to $25.00 and gave the stock a “hold” rating in a research report on Wednesday, August 28th. Evercore ISI upped their price target on Nordstrom from $17.00 to $19.00 and gave the stock an “in-line” rating in a research note on Friday, May 31st. The Goldman Sachs Group upped their price target on Nordstrom from $19.00 to $21.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 28th. Finally, KeyCorp downgraded Nordstrom from an “overweight” rating to a “sector weight” rating in a research note on Thursday. Three equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $20.23.

Insider Buying and Selling

In related news, COO Alexis Depree sold 20,000 shares of the firm’s stock in a transaction that occurred 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 sale, the chief operating officer now directly owns 169,331 shares of the company’s stock, valued at approximately $3,928,479.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 5.78% of the stock is owned by corporate insiders.

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.