Credit Agricole S A decreased its position in Nordstrom, Inc. (NYSE:JWN) by 25.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 81,404 shares of the specialty retailer’s stock after selling 28,010 shares during the period. Credit Agricole S A’s holdings in Nordstrom were worth $3,790,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Gemmer Asset Management LLC raised its position in shares of Nordstrom by 0.8% in the first quarter. Gemmer Asset Management LLC now owns 2,252 shares of the specialty retailer’s stock worth $105,000 after buying an additional 18 shares during the period. Ledyard National Bank raised its stake in shares of Nordstrom by 291.1% in the first quarter. Ledyard National Bank now owns 2,362 shares of the specialty retailer’s stock valued at $110,000 after buying an additional 1,758 shares during the period. Advisory Services Network LLC purchased a new stake in shares of Nordstrom during the first quarter valued at $113,000. Sowell Financial Services LLC purchased a new stake in shares of Nordstrom during the fourth quarter valued at $123,000. Finally, Ameritas Investment Partners Inc. raised its stake in shares of Nordstrom by 6,460.5% in the first quarter. Ameritas Investment Partners Inc. now owns 2,821 shares of the specialty retailer’s stock valued at $131,000 after buying an additional 2,778 shares during the period. Institutional investors own 68.39% of the company’s stock.
Shares of Nordstrom, Inc. (NYSE JWN) traded up 1.06% during trading on Friday, hitting $47.50. The stock had a trading volume of 3,442,179 shares. Nordstrom, Inc. has a 12-month low of $35.01 and a 12-month high of $62.82. The stock’s 50-day moving average is $44.55 and its 200-day moving average is $46.42. The stock has a market capitalization of $7.89 billion, a P/E ratio of 22.24 and a beta of 0.86. Nordstrom also was the target of some unusual options trading on Friday. Stock investors purchased 3,320 call options on the stock. This represents an increase of 679% compared to the typical volume of 426 call options.
The firm also recently announced a quarterly dividend, which was paid on Monday, June 12th. Shareholders of record on Friday, May 26th were paid a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 3.12%. The ex-dividend date was Wednesday, May 24th. Nordstrom’s payout ratio is presently 69.48%.
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Several analysts have recently weighed in on the company. Zacks Investment Research lowered Nordstrom from a “hold” rating to a “sell” rating in a report on Wednesday, April 26th. Citigroup Inc. cut their price objective on Nordstrom from $50.00 to $46.00 and set a “neutral” rating for the company in a report on Friday, May 12th. Cowen and Company restated an “outperform” rating and issued a $49.00 price objective on shares of Nordstrom in a report on Friday, June 9th. Northcoast Research restated a “neutral” rating on shares of Nordstrom in a report on Tuesday, May 16th. Finally, Maxim Group set a $61.00 price objective on Nordstrom and gave the company a “buy” rating in a report on Thursday, May 4th. Four investment analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and six have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $47.06.
In other Nordstrom news, insider Daniel F. Little sold 7,423 shares of the company’s stock in a transaction on Monday, April 3rd. The stock was sold at an average price of $47.01, for a total transaction of $348,955.23. Following the completion of the sale, the insider now directly owns 76,371 shares in the company, valued at $3,590,200.71. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 7.03% of the stock is owned by corporate insiders.
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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