Arjuna Capital Makes New Investment in Nordstrom, Inc. (NYSE:JWN)

Arjuna Capital bought a new stake in shares of Nordstrom, Inc. (NYSE:JWN) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 71,515 shares of the specialty retailer’s stock, valued at approximately $1,518,000.

Other large investors have also recently made changes to their positions in the company. Register Financial Advisors LLC purchased a new position in shares of Nordstrom during the first quarter worth approximately $30,000. Hexagon Capital Partners LLC increased its holdings in Nordstrom by 77.6% during the 4th quarter. Hexagon Capital Partners LLC now owns 1,989 shares of the specialty retailer’s stock worth $37,000 after purchasing an additional 869 shares during the period. Spire Wealth Management raised its position in Nordstrom by 100.0% during the 1st quarter. Spire Wealth Management now owns 2,200 shares of the specialty retailer’s stock valued at $45,000 after purchasing an additional 1,100 shares in the last quarter. Blue Trust Inc. lifted its holdings in shares of 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, CWM LLC lifted its holdings in shares of Nordstrom by 1,000.3% in 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. 88.73% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on JWN shares. Bank of America raised their price target on Nordstrom from $18.00 to $20.00 and gave the company an “underperform” rating in a research note on Wednesday. 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. Barclays boosted their price target on shares of Nordstrom from $15.00 to $18.00 and gave the company an “underweight” rating in a report on Friday, May 31st. BMO Capital Markets increased their price objective on shares of Nordstrom from $20.00 to $22.00 and gave the company a “market perform” rating in a research note on Wednesday. Finally, TD Cowen boosted their price objective on shares of Nordstrom from $24.00 to $25.00 and gave the stock a “hold” rating in a research note on Wednesday. Four investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $19.85.

Nordstrom Stock Up 1.6 %

Nordstrom stock traded up $0.35 during midday trading on Friday, reaching $22.34. The company’s stock had a trading volume of 3,768,634 shares, compared to its average volume of 3,393,814. The stock has a market capitalization of $3.66 billion, a P/E ratio of 12.21, a PEG ratio of 2.55 and a beta of 2.62. The company has a debt-to-equity ratio of 3.13, a current ratio of 1.03 and a quick ratio of 0.36. The stock’s 50-day simple moving average is $21.95 and its 200-day simple moving average is $20.69. Nordstrom, Inc. has a 52-week low of $12.88 and a 52-week high of $24.03.

Nordstrom (NYSE:JWN) last issued its quarterly earnings results on Tuesday, August 27th. The specialty retailer reported $0.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.71 by $0.25. Nordstrom had a negative net margin of 1.35% and a negative return on equity of 26.45%. The business had revenue of $3.89 billion for the quarter, compared to analyst estimates of $3.88 billion. During the same quarter in the prior year, the business posted $0.84 EPS. Nordstrom’s revenue for the quarter was up 3.2% compared to the same quarter last year. On average, sell-side analysts expect that Nordstrom, Inc. will post 1.79 EPS for the current year.

Nordstrom Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 18th. Shareholders of record on Tuesday, September 3rd will be given a dividend of $0.19 per share. The ex-dividend date is Tuesday, September 3rd. This represents a $0.76 dividend on an annualized basis and a yield of 3.40%. Nordstrom’s dividend payout ratio is currently 41.53%.

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.