Maverick Capital Ltd. Purchases 7,883 Shares of Nordstrom, Inc. (NYSE:JWN)

Maverick Capital Ltd. boosted its position in Nordstrom, Inc. (NYSE:JWN) by 7.1% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 118,834 shares of the specialty retailer’s stock after purchasing an additional 7,883 shares during the period. Maverick Capital Ltd. owned about 0.07% of Nordstrom worth $2,522,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of JWN. Aveo Capital Partners LLC lifted its position in shares of Nordstrom by 11.6% in the fourth quarter. Aveo Capital Partners LLC now owns 57,941 shares of the specialty retailer’s stock valued at $1,069,000 after buying an additional 6,013 shares during the last quarter. Norges Bank acquired a new stake in Nordstrom during the 4th quarter valued at $23,572,000. Franklin Resources Inc. boosted its position in Nordstrom by 24.7% during the fourth quarter. Franklin Resources Inc. now owns 84,039 shares of the specialty retailer’s stock worth $1,551,000 after purchasing an additional 16,625 shares during the period. Boulder Hill Capital Management LP bought a new position in Nordstrom during the fourth quarter worth $2,065,000. Finally, Stephens Inc. AR increased its holdings in shares of Nordstrom by 7.0% in the fourth quarter. Stephens Inc. AR now owns 145,169 shares of the specialty retailer’s stock valued at $2,678,000 after purchasing an additional 9,466 shares during the last quarter. Institutional investors own 88.73% of the company’s stock.

Insider Buying and Selling

In other Nordstrom 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 in the company, valued at $3,928,479.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 5.78% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts have recently issued reports on JWN shares. Barclays upgraded shares of Nordstrom from an “underweight” rating to an “equal weight” rating and raised their target price for the stock from $18.00 to $23.00 in a research note on Thursday, September 5th. KeyCorp cut Nordstrom from an “overweight” rating to a “sector weight” rating in a report on Thursday. JPMorgan Chase & Co. increased their target price on Nordstrom from $19.00 to $20.00 and gave the stock an “underweight” rating in a research note on Wednesday, August 28th. Telsey Advisory Group upped their price target on shares of Nordstrom from $23.00 to $24.00 and gave the company a “market perform” rating in a research note on Wednesday, August 28th. Finally, StockNews.com upgraded shares of Nordstrom from a “hold” rating to a “buy” rating in a research note on Thursday, August 8th. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $20.23.

Nordstrom Stock Performance

NYSE JWN opened at $22.46 on Friday. Nordstrom, Inc. has a 1 year low of $12.88 and a 1 year high of $24.03. The firm has a market capitalization of $3.68 billion, a price-to-earnings ratio of 12.27 and a beta of 2.61. The company has a current ratio of 1.07, a quick ratio of 0.41 and a debt-to-equity ratio of 2.76. The firm’s 50 day simple moving average is $22.17 and its 200 day simple moving average is $21.04.

Nordstrom (NYSE:JWN) last posted its quarterly 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. Nordstrom had a negative return on equity of 21.26% and a negative net margin of 1.44%. The company had revenue of $3.89 billion during the quarter, compared to analysts’ expectations of $3.88 billion. During the same quarter in the previous year, the firm earned $0.84 EPS. Nordstrom’s revenue was up 3.2% on a year-over-year basis. As a group, research analysts expect that Nordstrom, Inc. will post 1.9 earnings per share for the current fiscal year.

Nordstrom Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 18th. Investors of record on Tuesday, September 3rd were issued a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 3.38%. The ex-dividend date was Tuesday, September 3rd. Nordstrom’s dividend payout ratio (DPR) is presently 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.