AI Financial Services LLC Takes $2.32 Million Position in Nordstrom, Inc. (JWN)
AI Financial Services LLC purchased a new stake in Nordstrom, Inc. (NYSE:JWN) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 49,042 shares of the specialty retailer’s stock, valued at approximately $2,324,000. Nordstrom makes up approximately 4.6% of AI Financial Services LLC’s investment portfolio, making the stock its 10th biggest holding.
A number of other hedge funds also recently bought and sold shares of the business. Bank of New York Mellon Corp grew its stake in Nordstrom by 11.8% in the fourth quarter. Bank of New York Mellon Corp now owns 10,245,078 shares of the specialty retailer’s stock valued at $485,413,000 after purchasing an additional 1,078,880 shares in the last quarter. BlackRock Inc. lifted its position in shares of Nordstrom by 3.4% in the fourth quarter. BlackRock Inc. now owns 8,343,411 shares of the specialty retailer’s stock valued at $395,312,000 after buying an additional 275,344 shares during the last quarter. Principal Financial Group Inc. lifted its position in shares of Nordstrom by 7.4% in the third quarter. Principal Financial Group Inc. now owns 1,967,191 shares of the specialty retailer’s stock valued at $92,752,000 after buying an additional 136,053 shares during the last quarter. APG Asset Management N.V. lifted its position in shares of Nordstrom by 6.8% in the third quarter. APG Asset Management N.V. now owns 1,519,455 shares of the specialty retailer’s stock valued at $71,642,000 after buying an additional 97,000 shares during the last quarter. Finally, Schroder Investment Management Group lifted its position in shares of Nordstrom by 97.6% in the fourth quarter. Schroder Investment Management Group now owns 1,036,341 shares of the specialty retailer’s stock valued at $49,102,000 after buying an additional 511,905 shares during the last quarter. Hedge funds and other institutional investors own 59.01% of the company’s stock.
JWN has been the subject of a number of recent analyst reports. Zacks Investment Research cut Nordstrom from a “hold” rating to a “sell” rating in a research report on Tuesday, November 14th. Robert W. Baird set a $49.00 price objective on Nordstrom and gave the company a “hold” rating in a research report on Friday, December 22nd. ValuEngine cut Nordstrom from a “buy” rating to a “hold” rating in a research report on Sunday, December 31st. JPMorgan Chase & Co. raised Nordstrom from an “underweight” rating to a “neutral” rating and raised their price objective for the company from $33.00 to $48.00 in a research report on Tuesday, January 2nd. Finally, Piper Jaffray Companies set a $45.00 price objective on Nordstrom and gave the company a “hold” rating in a research report on Wednesday, January 10th. Two research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and six have issued a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $48.92.
Nordstrom (NYSE:JWN) last released its quarterly earnings results on Thursday, March 1st. The specialty retailer reported $1.20 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.24 by ($0.04). The firm had revenue of $4.60 billion for the quarter, compared to analyst estimates of $4.57 billion. Nordstrom had a return on equity of 60.72% and a net margin of 2.86%. The business’s revenue for the quarter was up 8.4% on a year-over-year basis. During the same period in the previous year, the business posted $1.27 earnings per share. equities research analysts predict that Nordstrom, Inc. will post 3.42 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 20th. Shareholders of record on Monday, March 5th will be issued a $0.37 dividend. The ex-dividend date is Friday, March 2nd. This represents a $1.48 annualized dividend and a yield of 2.99%. Nordstrom’s dividend payout ratio is presently 51.21%.
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Nordstrom Company Profile
Nordstrom, Inc is a fashion specialty retailer in the United States. The Company’s segments include Retail and Credit. As of March 20, 2017, the Company operated 344 the United States stores located in 40 states as well as an e-commerce business. The Company also offers its customers a variety of payment products and services, including credit and debit cards.
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