Quantinno Capital Management LP Boosts Stake in Nordstrom, Inc. (NYSE:JWN)

Quantinno Capital Management LP boosted its holdings in shares of Nordstrom, Inc. (NYSE:JWN) by 49.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 145,146 shares of the specialty retailer’s stock after acquiring an additional 47,923 shares during the period. Quantinno Capital Management LP’s holdings in Nordstrom were worth $3,264,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Atlas Capital Advisors LLC boosted its holdings in shares of Nordstrom by 101.8% during the 2nd quarter. Atlas Capital Advisors LLC now owns 1,491 shares of the specialty retailer’s stock worth $32,000 after purchasing an additional 752 shares during the last quarter. State of Alaska Department of Revenue boosted its stake in Nordstrom by 7.3% during the third quarter. State of Alaska Department of Revenue now owns 11,236 shares of the specialty retailer’s stock worth $252,000 after buying an additional 760 shares during the last quarter. Stephens Inc. AR grew its holdings in Nordstrom by 0.5% in the 3rd quarter. Stephens Inc. AR now owns 153,061 shares of the specialty retailer’s stock valued at $3,442,000 after buying an additional 805 shares in the last quarter. CWM LLC increased its stake in shares of Nordstrom by 28.7% in the 3rd quarter. CWM LLC now owns 3,628 shares of the specialty retailer’s stock worth $82,000 after acquiring an additional 810 shares during the last quarter. Finally, Venturi Wealth Management LLC raised its holdings in shares of Nordstrom by 355.9% during the 3rd quarter. Venturi Wealth Management LLC now owns 1,272 shares of the specialty retailer’s stock worth $29,000 after acquiring an additional 993 shares during the period. Institutional investors and hedge funds own 88.73% of the company’s stock.

Insider Activity

In related news, COO Alexis Depree sold 20,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 24th. The shares were sold at an average price of $23.20, for a total value of $464,000.00. Following the sale, the chief operating officer now owns 169,331 shares of the company’s stock, valued at $3,928,479.20. This trade represents a 10.56 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 5.78% of the company’s stock.

Nordstrom Stock Performance

Shares of Nordstrom stock opened at $22.93 on Tuesday. The stock has a market capitalization of $3.78 billion, a price-to-earnings ratio of 14.61 and a beta of 2.56. The company has a debt-to-equity ratio of 2.65, a current ratio of 1.14 and a quick ratio of 0.35. The business has a 50-day moving average of $22.92 and a 200 day moving average of $22.34. Nordstrom, Inc. has a 12 month low of $15.97 and a 12 month high of $24.99.

Nordstrom (NYSE:JWN) last posted its quarterly earnings data on Tuesday, November 26th. The specialty retailer reported $0.33 EPS for the quarter, beating the consensus estimate of $0.22 by $0.11. Nordstrom had a negative net margin of 1.57% and a negative return on equity of 18.04%. The business had revenue of $3.35 billion during the quarter, compared to analyst estimates of $3.34 billion. During the same quarter last year, the firm posted $0.25 earnings per share. The business’s revenue for the quarter was up 4.6% compared to the same quarter last year. As a group, sell-side analysts forecast that Nordstrom, Inc. will post 1.93 earnings per share for the current year.

Nordstrom Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Tuesday, December 3rd will be given a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 3.31%. The ex-dividend date is Tuesday, December 3rd. Nordstrom’s dividend payout ratio is currently 48.41%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Citigroup raised their price objective on shares of Nordstrom from $22.00 to $23.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 19th. Bank of America lifted their price target on shares of Nordstrom from $20.00 to $22.00 and gave the company an “underperform” rating in a research report on Wednesday, November 27th. TD Cowen increased their price objective on Nordstrom from $24.00 to $25.00 and gave the stock a “hold” rating in a research report on Wednesday, August 28th. Telsey Advisory Group raised their target price on Nordstrom from $24.00 to $26.00 and gave the stock a “market perform” rating in a research note on Wednesday, November 27th. Finally, The Goldman Sachs Group upped their price target on Nordstrom from $19.00 to $21.00 and gave the company a “neutral” rating in a research note on Wednesday, August 28th. Three research analysts have rated the stock with a sell rating, ten have given a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $21.29.

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.