TIAA CREF Investment Management LLC reduced its stake in Nordstrom, Inc. (NYSE:JWN) by 1.1% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 379,352 shares of the specialty retailer’s stock after selling 4,356 shares during the quarter. TIAA CREF Investment Management LLC owned approximately 0.23% of Nordstrom worth $17,974,000 at the end of the most recent quarter.
A number of other institutional investors also recently made changes to their positions in the stock. Teachers Advisors LLC raised its holdings in Nordstrom by 0.8% in the 4th quarter. Teachers Advisors LLC now owns 226,710 shares of the specialty retailer’s stock worth $10,742,000 after purchasing an additional 1,838 shares during the period. HBK Investments L P increased its stake in Nordstrom by 87.0% in the 4th quarter. HBK Investments L P now owns 102,650 shares of the specialty retailer’s stock worth $4,864,000 after buying an additional 47,750 shares in the last quarter. Two Sigma Advisers LP increased its stake in Nordstrom by 0.6% in the 4th quarter. Two Sigma Advisers LP now owns 542,185 shares of the specialty retailer’s stock worth $25,689,000 after buying an additional 3,400 shares in the last quarter. Stone Ridge Asset Management LLC purchased a new stake in Nordstrom in the 4th quarter worth $702,000. Finally, Guggenheim Capital LLC increased its stake in Nordstrom by 29.8% in the 4th quarter. Guggenheim Capital LLC now owns 916,574 shares of the specialty retailer’s stock worth $43,427,000 after buying an additional 210,374 shares in the last quarter. 58.77% of the stock is currently owned by institutional investors.
A number of equities research analysts have issued reports on the company. BMO Capital Markets increased their price target on Nordstrom from $50.00 to $55.00 and gave the stock a “market perform” rating in a research note on Monday, March 5th. Piper Jaffray set a $48.00 price target on Nordstrom and gave the stock a “hold” rating in a research note on Thursday, March 1st. Robert W. Baird reiterated a “neutral” rating on shares of Nordstrom in a research note on Friday, March 2nd. Royal Bank of Canada set a $49.00 price target on Nordstrom and gave the stock a “hold” rating in a research note on Friday, March 2nd. Finally, TheStreet upgraded Nordstrom from a “c+” rating to a “b-” rating in a research note on Friday, March 2nd. Two research analysts have rated the stock with a sell rating, sixteen have given a hold rating and six have given a buy rating to the company. Nordstrom presently has a consensus rating of “Hold” and an average price target of $48.92.
Nordstrom (NYSE:JWN) last released its quarterly earnings results on Thursday, March 1st. The specialty retailer reported $1.20 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.24 by ($0.04). The company had revenue of $4.60 billion during the quarter, compared to analysts’ expectations of $4.57 billion. Nordstrom had a return on equity of 60.72% and a net margin of 2.86%. The company’s revenue was up 8.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.27 EPS. analysts anticipate that Nordstrom, Inc. will post 3.42 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, March 20th. Investors of record on Monday, March 5th were given a $0.37 dividend. The ex-dividend date was Friday, March 2nd. This represents a $1.48 annualized dividend and a yield of 3.06%. Nordstrom’s dividend payout ratio is currently 50.00%.
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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