Landscape Capital Management L.L.C. Takes $212,000 Position in Nordstrom, Inc. (NYSE:JWN)

Landscape Capital Management L.L.C. purchased a new position in Nordstrom, Inc. (NYSE:JWN) during the 3rd quarter, Holdings Channel reports. The fund purchased 9,439 shares of the specialty retailer’s stock, valued at approximately $212,000.

Several other institutional investors also recently added to or reduced their stakes in JWN. Venturi Wealth Management LLC increased its stake in Nordstrom by 355.9% in the 3rd quarter. Venturi Wealth Management LLC now owns 1,272 shares of the specialty retailer’s stock worth $29,000 after buying an additional 993 shares during the period. Atlas Capital Advisors LLC increased its stake in Nordstrom by 101.8% in the 2nd quarter. Atlas Capital Advisors LLC now owns 1,491 shares of the specialty retailer’s stock worth $32,000 after buying an additional 752 shares during the period. Rothschild Investment LLC purchased a new position in Nordstrom in the 2nd quarter worth about $39,000. Blue Trust Inc. increased its stake in Nordstrom by 10,045.8% in the 2nd 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 during the period. Finally, Point72 Hong Kong Ltd purchased a new position in Nordstrom in the 2nd quarter worth about $71,000. Hedge funds and other institutional investors own 88.73% of the company’s stock.

Nordstrom Stock Up 7.3 %

JWN stock opened at $24.93 on Tuesday. The firm has a 50 day moving average of $22.82 and a 200 day moving average of $22.20. The stock has a market capitalization of $4.09 billion, a PE ratio of 14.58 and a beta of 2.59. 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, Inc. has a 52 week low of $14.65 and a 52 week high of $24.99.

Nordstrom (NYSE:JWN) last released 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. The company had revenue of $3.89 billion during the quarter, compared to analysts’ expectations of $3.88 billion. Nordstrom had a negative net margin of 1.44% and a negative return on equity of 21.26%. Nordstrom’s revenue for the quarter was up 3.2% on a year-over-year basis. During the same period last year, the business earned $0.84 EPS. Sell-side analysts forecast that Nordstrom, Inc. will post 1.91 earnings per share for the current year.

Nordstrom Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Tuesday, December 3rd will be paid a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 3.05%. The ex-dividend date is Tuesday, December 3rd. Nordstrom’s dividend payout ratio (DPR) is presently 44.44%.

Insider Buying and Selling

In other Nordstrom news, COO Alexis Depree sold 20,000 shares of Nordstrom stock in a transaction that occurred on 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 sale, the chief operating officer now directly owns 169,331 shares in the company, valued at approximately $3,928,479.20. The trade was a 10.56 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 5.78% of the stock is owned by company insiders.

Analysts Set New Price Targets

JWN has been the topic of a number of research reports. Barclays raised shares of Nordstrom from an “underweight” rating to an “equal weight” rating and raised their target price for the company from $18.00 to $23.00 in a research report on Thursday, September 5th. The Goldman Sachs Group raised their target price on shares of Nordstrom from $19.00 to $21.00 and gave the company a “neutral” rating in a research report on Wednesday, August 28th. 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. TD Cowen raised their target price 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. Finally, StockNews.com raised shares of Nordstrom from a “hold” rating to a “buy” rating in a research report on Thursday, August 8th. Three equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $20.58.

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.