Geode Capital Management LLC Boosts Position in Nordstrom, Inc. (NYSE:JWN)

Geode Capital Management LLC grew its position in Nordstrom, Inc. (NYSE:JWN) by 0.3% in the third quarter, HoldingsChannel reports. The institutional investor owned 1,625,616 shares of the specialty retailer’s stock after purchasing an additional 5,407 shares during the period. Geode Capital Management LLC’s holdings in Nordstrom were worth $36,570,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Verition Fund Management LLC increased its position in Nordstrom by 147.4% during the third quarter. Verition Fund Management LLC now owns 1,218,365 shares of the specialty retailer’s stock worth $27,401,000 after buying an additional 725,803 shares in the last quarter. American Century Companies Inc. grew its holdings 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 buying an additional 661,769 shares in the last quarter. Marshall Wace LLP lifted its stake in shares of Nordstrom by 38.4% during the second quarter. Marshall Wace LLP now owns 1,479,414 shares of the specialty retailer’s stock valued at $31,393,000 after buying an additional 410,152 shares during the period. Axiom Advisory LLC boosted its position in Nordstrom by 46.0% during the third quarter. Axiom Advisory LLC now owns 1,100,864 shares of the specialty retailer’s stock worth $24,456,000 after acquiring an additional 346,994 shares during the last quarter. Finally, Cyndeo Wealth Partners LLC purchased a new stake in Nordstrom in the 3rd quarter worth approximately $6,248,000. Institutional investors and hedge funds own 88.73% of the company’s stock.

Nordstrom Stock Up 0.2 %

JWN opened at $24.21 on Wednesday. Nordstrom, Inc. has a 12 month low of $16.63 and a 12 month high of $24.99. The stock’s 50 day moving average price is $23.21 and its 200 day moving average price is $22.45. 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 stock has a market cap of $3.99 billion, a P/E ratio of 15.42 and a beta of 2.56.

Nordstrom (NYSE:JWN) last announced its earnings results on Tuesday, November 26th. The specialty retailer reported $0.33 EPS for the quarter, topping the consensus estimate of $0.22 by $0.11. The firm had revenue of $3.35 billion for the quarter, compared to analysts’ expectations of $3.34 billion. Nordstrom had a negative return on equity of 18.04% and a negative net margin of 1.57%. The firm’s quarterly revenue was up 4.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.25 earnings per share. As a group, research analysts predict that Nordstrom, Inc. will post 1.94 earnings per share for the current year.

Nordstrom Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 18th. Investors of record on Tuesday, December 3rd were issued a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 3.14%. The ex-dividend date was Tuesday, December 3rd. Nordstrom’s payout ratio is currently 48.41%.

Wall Street Analyst Weigh In

Several analysts have commented on JWN shares. Citigroup lifted their price target on Nordstrom from $22.00 to $23.00 and gave the company a “neutral” rating in a report on Tuesday, November 19th. The Goldman Sachs Group boosted their price target on Nordstrom from $19.00 to $21.00 and gave the company a “neutral” rating in a research report on Wednesday, August 28th. JPMorgan Chase & Co. lifted their price objective on Nordstrom from $19.00 to $20.00 and gave the company an “underweight” rating in a research note on Wednesday, August 28th. Evercore ISI boosted their target price on Nordstrom from $20.00 to $22.00 and gave the stock an “in-line” rating in a report on Wednesday, November 27th. Finally, Bank of America raised their price target on shares of Nordstrom from $20.00 to $22.00 and gave the company an “underperform” rating in a report on Wednesday, November 27th. Three research analysts have rated the stock with a sell rating, ten have issued a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, Nordstrom presently has a consensus rating of “Hold” and an average price target of $21.13.

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.