Nicholas Investment Partners LP Has $3.47 Million Position in Nordstrom, Inc. (JWN)

Nicholas Investment Partners LP increased its position in shares of Nordstrom, Inc. (NYSE:JWN) by 115.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 73,501 shares of the specialty retailer’s stock after acquiring an additional 39,455 shares during the period. Nicholas Investment Partners LP’s holdings in Nordstrom were worth $3,466,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Bank of New York Mellon Corp lifted its stake in Nordstrom by 37.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 10,882,305 shares of the specialty retailer’s stock valued at $520,501,000 after purchasing an additional 2,985,551 shares during the last quarter. York Capital Management Global Advisors LLC bought a new position in Nordstrom in the 2nd quarter valued at approximately $75,623,000. Principal Financial Group Inc. lifted its stake in Nordstrom by 168.7% in the 2nd quarter. Principal Financial Group Inc. now owns 1,831,138 shares of the specialty retailer’s stock valued at $87,584,000 after purchasing an additional 1,149,685 shares during the last quarter. Disciplined Growth Investors Inc. MN lifted its stake in Nordstrom by 1,155.2% in the 2nd quarter. Disciplined Growth Investors Inc. MN now owns 893,200 shares of the specialty retailer’s stock valued at $42,722,000 after purchasing an additional 822,038 shares during the last quarter. Finally, Franklin Resources Inc. lifted its stake in Nordstrom by 245.1% in the 2nd quarter. Franklin Resources Inc. now owns 1,064,584 shares of the specialty retailer’s stock valued at $50,919,000 after purchasing an additional 756,061 shares during the last quarter. Institutional investors and hedge funds own 57.74% of the company’s stock.

Several equities analysts recently commented on the stock. Wolfe Research increased their price objective on shares of Nordstrom from $45.00 to $47.00 and gave the company an “outperform” rating in a research note on Friday, August 11th. KeyCorp reaffirmed an “overweight” rating and set a $55.00 price target on shares of Nordstrom in a research note on Monday, August 14th. BidaskClub downgraded shares of Nordstrom from a “buy” rating to a “hold” rating in a research note on Saturday, August 12th. Credit Suisse Group reaffirmed a “buy” rating and set a $52.00 price target on shares of Nordstrom in a research note on Thursday, August 10th. Finally, Cowen reaffirmed a “buy” rating and set a $49.00 price target on shares of Nordstrom in a research note on Friday, August 11th. Five equities research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and seven have given a buy rating to the company’s stock. Nordstrom presently has a consensus rating of “Hold” and an average price target of $45.33.

Shares of Nordstrom, Inc. (JWN) traded down $1.11 during midday trading on Wednesday, reaching $46.15. 2,109,400 shares of the company were exchanged, compared to its average volume of 2,912,612. Nordstrom, Inc. has a fifty-two week low of $37.79 and a fifty-two week high of $61.85. The company has a market capitalization of $7,872.68, a P/E ratio of 15.15, a PEG ratio of 2.67 and a beta of 0.90. The company has a debt-to-equity ratio of 3.14, a current ratio of 1.00 and a quick ratio of 0.30.

Nordstrom (NYSE:JWN) last announced its earnings results on Thursday, November 9th. The specialty retailer reported $0.67 earnings per share for the quarter, topping analysts’ consensus estimates of $0.63 by $0.04. Nordstrom had a net margin of 3.25% and a return on equity of 67.44%. The business had revenue of $3.54 billion during the quarter, compared to the consensus estimate of $3.50 billion. During the same quarter last year, the firm earned $0.84 earnings per share. Nordstrom’s quarterly revenue was up 2.0% on a year-over-year basis. analysts anticipate that Nordstrom, Inc. will post 2.95 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 12th. Investors of record on Monday, November 27th will be paid a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 3.21%. The ex-dividend date is Friday, November 24th. Nordstrom’s dividend payout ratio is presently 52.11%.

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Nordstrom Profile

Nordstrom, Inc is a fashion specialty retailer in the United States. The Company’s segments include Retail and Credit. As of March 20, 2017, the Company operated 344 the United States stores located in 40 states as well as an e-commerce business. The Company also offers its customers a variety of payment products and services, including credit and debit cards.

Institutional Ownership by Quarter for Nordstrom (NYSE:JWN)

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