Orion Portfolio Solutions LLC Makes New Investment in Nordstrom, Inc. (NYSE:JWN)

Orion Portfolio Solutions LLC purchased a new position in Nordstrom, Inc. (NYSE:JWN) during the third quarter, HoldingsChannel.com reports. The fund purchased 9,557 shares of the specialty retailer’s stock, valued at approximately $215,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Victory Capital Management Inc. grew its stake in Nordstrom by 1.7% during the 2nd quarter. Victory Capital Management Inc. now owns 3,371,988 shares of the specialty retailer’s stock worth $71,554,000 after buying an additional 57,546 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of Nordstrom by 4.6% during the second quarter. Dimensional Fund Advisors LP now owns 3,136,639 shares of the specialty retailer’s stock worth $66,557,000 after acquiring an additional 137,094 shares during the last quarter. American Century Companies Inc. grew its position in shares of Nordstrom by 66.2% during the second quarter. American Century Companies Inc. now owns 1,661,227 shares of the specialty retailer’s stock worth $35,251,000 after acquiring an additional 661,769 shares during the last quarter. Marshall Wace LLP increased its holdings in shares of Nordstrom by 38.4% in the 2nd quarter. Marshall Wace LLP now owns 1,479,414 shares of the specialty retailer’s stock worth $31,393,000 after acquiring an additional 410,152 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its position in Nordstrom by 17.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,422,856 shares of the specialty retailer’s stock valued at $32,000,000 after purchasing an additional 208,193 shares during the last quarter. 88.73% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Nordstrom

In other Nordstrom news, COO Alexis Depree sold 20,000 shares of the business’s stock in a transaction 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 sale, the chief operating officer now directly owns 169,331 shares of the company’s stock, valued at $3,928,479.20. The trade was a 10.56 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 5.78% of the company’s stock.

Nordstrom Trading Up 2.0 %

Shares of NYSE:JWN opened at $24.53 on Friday. The company has a debt-to-equity ratio of 2.65, a quick ratio of 0.35 and a current ratio of 1.14. The stock has a market capitalization of $4.05 billion, a price-to-earnings ratio of 15.62 and a beta of 2.56. Nordstrom, Inc. has a 1-year low of $16.63 and a 1-year high of $24.99. The company has a 50 day moving average price of $23.18 and a 200 day moving average price of $22.43.

Nordstrom (NYSE:JWN) last released its quarterly earnings data on Tuesday, November 26th. The specialty retailer reported $0.33 earnings per share for the quarter, topping the consensus estimate of $0.22 by $0.11. The business had revenue of $3.35 billion during the quarter, compared to analyst estimates of $3.34 billion. Nordstrom had a negative return on equity of 18.04% and a negative net margin of 1.57%. The company’s revenue was up 4.6% compared to the same quarter last year. During the same period last year, the company posted $0.25 EPS. On average, research analysts anticipate that Nordstrom, Inc. will post 1.94 EPS for the current fiscal year.

Nordstrom Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 18th. Shareholders of record on Tuesday, December 3rd were issued a dividend of $0.19 per share. The ex-dividend date was Tuesday, December 3rd. This represents a $0.76 annualized dividend and a yield of 3.10%. Nordstrom’s payout ratio is presently 48.41%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Barclays upgraded Nordstrom from an “underweight” rating to an “equal weight” rating and boosted their price objective for the stock from $18.00 to $23.00 in a research report on Thursday, September 5th. Telsey Advisory Group boosted their price target on Nordstrom from $24.00 to $26.00 and gave the stock a “market perform” rating in a research report on Wednesday, November 27th. Citigroup lifted their price objective on shares of Nordstrom from $22.00 to $23.00 and gave the company a “neutral” rating in a research note on Tuesday, November 19th. StockNews.com downgraded shares of Nordstrom from a “strong-buy” rating to a “buy” rating in a report on Thursday, December 5th. Finally, Evercore ISI raised their target price on shares of Nordstrom from $20.00 to $22.00 and gave the company an “in-line” rating in a research note on Wednesday, November 27th. Three analysts have rated the stock with a sell rating, ten have issued a hold rating and one has given a buy rating to the stock. According to MarketBeat, Nordstrom currently has an average rating of “Hold” and an average price target of $21.29.

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.