Precision Wealth Strategies LLC Makes New $427,000 Investment in Nordstrom, Inc. (NYSE:JWN)

Precision Wealth Strategies LLC acquired a new position in shares of Nordstrom, Inc. (NYSE:JWN) in the 3rd quarter, Holdings Channel.com reports. The firm acquired 18,991 shares of the specialty retailer’s stock, valued at approximately $427,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. American Century Companies Inc. increased its stake in shares of Nordstrom by 66.2% in the 2nd quarter. American Century Companies Inc. now owns 1,661,227 shares of the specialty retailer’s stock valued at $35,251,000 after acquiring an additional 661,769 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of Nordstrom by 5.7% in the 1st quarter. Vanguard Group Inc. now owns 10,653,007 shares of the specialty retailer’s stock valued at $215,936,000 after acquiring an additional 579,001 shares during the last quarter. Marshall Wace LLP increased its stake in shares of Nordstrom by 38.4% in the 2nd quarter. Marshall Wace LLP now owns 1,479,414 shares of the specialty retailer’s stock valued at $31,393,000 after acquiring an additional 410,152 shares during the last quarter. NewSquare Capital LLC bought a new stake in shares of Nordstrom in the 2nd quarter valued at about $7,783,000. Finally, Axiom Advisory LLC increased its stake in shares of Nordstrom by 46.0% in the 3rd quarter. Axiom Advisory LLC now owns 1,100,864 shares of the specialty retailer’s stock valued at $24,456,000 after acquiring an additional 346,994 shares during the last quarter. 88.73% of the stock is owned by institutional investors.

Insider Buying and Selling at Nordstrom

In other Nordstrom news, COO Alexis Depree sold 20,000 shares of the firm’s stock in a transaction on Tuesday, September 24th. The stock was sold at an average price of $23.20, for a total transaction of $464,000.00. Following the completion of 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 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 5.78% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on JWN. Barclays raised Nordstrom from an “underweight” rating to an “equal weight” rating and upped their price target for the company from $18.00 to $23.00 in a research note on Thursday, September 5th. Telsey Advisory Group boosted their price objective on Nordstrom from $23.00 to $24.00 and gave the company a “market perform” rating in a research report on Wednesday, August 28th. The Goldman Sachs Group boosted their price objective on Nordstrom from $19.00 to $21.00 and gave the company a “neutral” rating in a research report on Wednesday, August 28th. BMO Capital Markets boosted their price objective on Nordstrom from $20.00 to $22.00 and gave the company a “market perform” rating in a research report on Wednesday, August 28th. Finally, StockNews.com upgraded Nordstrom from a “hold” rating to a “buy” rating in a research report on Thursday, August 8th. Three analysts have rated the stock with a sell rating, ten have given a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $20.23.

Nordstrom Trading Down 2.8 %

Shares of Nordstrom stock opened at $23.99 on Tuesday. Nordstrom, Inc. has a 12-month low of $12.88 and a 12-month high of $24.93. The stock has a market cap of $3.93 billion, a P/E ratio of 13.11 and a beta of 2.60. The company has a quick ratio of 0.41, a current ratio of 1.07 and a debt-to-equity ratio of 2.76. The business’s 50 day moving average is $22.44 and its 200-day moving average is $21.55.

Nordstrom (NYSE:JWN) last announced its quarterly earnings data on Tuesday, August 27th. The specialty retailer reported $0.96 earnings per share (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 for the quarter, compared to analysts’ expectations of $3.88 billion. During the same quarter in the prior year, the business posted $0.84 EPS. The business’s revenue was up 3.2% compared to the same quarter last year. Equities research analysts predict that Nordstrom, Inc. will post 1.89 earnings per share for the current fiscal year.

Nordstrom Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 18th. Investors of record on Tuesday, September 3rd were paid a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 3.17%. The ex-dividend date of this dividend was Tuesday, September 3rd. Nordstrom’s dividend payout ratio (DPR) is presently 41.53%.

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.