Dimensional Fund Advisors LP Boosts Stake in Nordstrom, Inc. (JWN)

Dimensional Fund Advisors LP raised its stake in shares of Nordstrom, Inc. (NYSE:JWN) by 0.8% during the first quarter, according to its most recent 13F filing with the SEC. The fund owned 677,200 shares of the specialty retailer’s stock after buying an additional 5,095 shares during the period. Dimensional Fund Advisors LP owned about 0.41% of Nordstrom worth $31,536,000 as of its most recent filing with the SEC.

Other institutional investors have also added to or reduced their stakes in the company. Bank of New York Mellon Corp boosted its stake in shares of Nordstrom by 20.9% in the first quarter. Bank of New York Mellon Corp now owns 7,896,754 shares of the specialty retailer’s stock valued at $367,753,000 after buying an additional 1,364,328 shares during the last quarter. Wells Fargo & Company MN boosted its stake in shares of Nordstrom by 26.5% in the first quarter. Wells Fargo & Company MN now owns 1,376,015 shares of the specialty retailer’s stock valued at $64,082,000 after buying an additional 288,487 shares during the last quarter. Ariel Investments LLC boosted its stake in shares of Nordstrom by 41.7% in the first quarter. Ariel Investments LLC now owns 1,215,593 shares of the specialty retailer’s stock worth $56,610,000 after buying an additional 357,644 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Nordstrom by 5.6% in the first quarter. Geode Capital Management LLC now owns 1,082,204 shares of the specialty retailer’s stock worth $50,324,000 after buying an additional 57,018 shares during the last quarter. Finally, Edge Asset Management Inc. boosted its stake in shares of Nordstrom by 75.4% in the first quarter. Edge Asset Management Inc. now owns 988,102 shares of the specialty retailer’s stock worth $46,015,000 after buying an additional 424,815 shares during the last quarter. 66.53% of the stock is currently owned by institutional investors.

Nordstrom, Inc. (JWN) opened at 44.33 on Friday. The firm has a 50-day moving average price of $46.88 and a 200-day moving average price of $45.53. Nordstrom, Inc. has a 1-year low of $39.53 and a 1-year high of $62.82. The company has a market capitalization of $7.37 billion, a P/E ratio of 21.00 and a beta of 0.83.

Nordstrom (NYSE:JWN) last announced its earnings results on Thursday, August 10th. The specialty retailer reported $0.65 earnings per share for the quarter, beating analysts’ consensus estimates of $0.62 by $0.03. The business had revenue of $3.72 billion during the quarter, compared to analyst estimates of $3.70 billion. Nordstrom had a net margin of 2.44% and a return on equity of 71.57%. The company’s quarterly revenue was up 3.5% compared to the same quarter last year. During the same period in the previous year, the business earned $0.67 EPS. On average, analysts forecast that Nordstrom, Inc. will post $2.97 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 12th. Shareholders of record on Monday, August 28th will be paid a dividend of $0.37 per share. The ex-dividend date is Thursday, August 24th. This represents a $1.48 dividend on an annualized basis and a yield of 3.34%. Nordstrom’s dividend payout ratio is presently 70.14%.

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JWN has been the subject of a number of research analyst reports. KeyCorp reiterated an “overweight” rating and set a $55.00 price target on shares of Nordstrom in a report on Monday, August 14th. Robert W. Baird set a $50.00 target price on Nordstrom and gave the company a “hold” rating in a research note on Saturday, August 12th. Cowen and Company restated a “buy” rating and issued a $49.00 target price on shares of Nordstrom in a research note on Friday, August 11th. BidaskClub cut Nordstrom from a “buy” rating to a “hold” rating in a research report on Saturday, August 12th. Finally, Wolfe Research upped their price target on Nordstrom from $45.00 to $47.00 and gave the company an “outperform” rating in a research report on Friday, August 11th. Four research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and eight have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $48.10.

About Nordstrom

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.

Institutional Ownership by Quarter for Nordstrom (NYSE:JWN)

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