Algert Global LLC Purchases Shares of 9,874 Nordstrom, Inc. (NYSE:JWN)

Algert Global LLC bought a new stake in Nordstrom, Inc. (NYSE:JWN) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 9,874 shares of the specialty retailer’s stock, valued at approximately $210,000.

A number of other hedge funds have also made changes to their positions in the business. Winslow Asset Management Inc. increased its stake in Nordstrom by 5.4% during the 4th quarter. Winslow Asset Management Inc. now owns 167,896 shares of the specialty retailer’s stock worth $3,098,000 after buying an additional 8,626 shares during the period. Vanguard Group Inc. increased its stake in Nordstrom by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 10,074,006 shares of the specialty retailer’s stock worth $185,865,000 after buying an additional 46,980 shares during the period. Nomura Holdings Inc. increased its stake in Nordstrom by 152.2% during the 4th quarter. Nomura Holdings Inc. now owns 169,604 shares of the specialty retailer’s stock worth $3,129,000 after buying an additional 102,361 shares during the period. CWM LLC increased its stake in Nordstrom by 1,000.3% during the 1st quarter. CWM LLC now owns 3,730 shares of the specialty retailer’s stock worth $76,000 after buying an additional 3,391 shares during the period. Finally, Alaska Permanent Fund Corp increased its position in shares of Nordstrom by 9.9% in the 1st quarter. Alaska Permanent Fund Corp now owns 134,670 shares of the specialty retailer’s stock worth $2,730,000 after purchasing an additional 12,077 shares during the last quarter. Hedge funds and other institutional investors own 88.73% of the company’s stock.

Insider Activity at Nordstrom

In related news, COO Alexis Depree sold 20,000 shares of Nordstrom stock in a transaction dated Tuesday, September 24th. The shares were 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. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 5.78% of the stock is currently owned by insiders.

Nordstrom Price Performance

NYSE:JWN opened at $21.97 on Friday. The company has a 50-day moving average of $22.13 and a 200-day moving average of $21.30. The company has a market capitalization of $3.60 billion, a price-to-earnings ratio of 12.00 and a beta of 2.60. Nordstrom, Inc. has a 52 week low of $12.88 and a 52 week high of $24.03. The company has a debt-to-equity ratio of 2.76, a quick ratio of 0.41 and a current ratio of 1.07.

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

Nordstrom Announces Dividend

The company 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. This represents a $0.76 annualized dividend and a yield of 3.46%. The ex-dividend date of this dividend was Tuesday, September 3rd. Nordstrom’s dividend payout ratio is currently 41.53%.

Analysts Set New Price Targets

Several research firms have recently weighed in on JWN. BMO Capital Markets boosted their target price on shares of Nordstrom from $20.00 to $22.00 and gave the stock a “market perform” rating in a research report on Wednesday, August 28th. StockNews.com raised shares of Nordstrom from a “hold” rating to a “buy” rating in a report on Thursday, August 8th. 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 report on Wednesday, August 28th. Bank of America boosted their target price on shares of Nordstrom from $18.00 to $20.00 and gave the company an “underperform” rating in a research note on Wednesday, August 28th. Finally, JPMorgan Chase & Co. upped their price target on shares of Nordstrom from $19.00 to $20.00 and gave the stock an “underweight” rating in a research note on Wednesday, August 28th. Three equities research analysts have rated the stock with a sell rating, ten have given a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, Nordstrom presently has a consensus rating of “Hold” and a consensus price target of $20.23.

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.