IPG Investment Advisors LLC Increases Holdings in Nordstrom, Inc. (NYSE:JWN)

IPG Investment Advisors LLC raised its position in Nordstrom, Inc. (NYSE:JWNFree Report) by 189.3% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 357,420 shares of the specialty retailer’s stock after purchasing an additional 233,874 shares during the quarter. Nordstrom comprises approximately 1.2% of IPG Investment Advisors LLC’s investment portfolio, making the stock its 24th biggest holding. IPG Investment Advisors LLC owned 0.22% of Nordstrom worth $5,340,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in shares of Nordstrom by 1.3% in the third quarter. Vanguard Group Inc. now owns 10,459,699 shares of the specialty retailer’s stock valued at $174,992,000 after purchasing an additional 131,102 shares during the period. BlackRock Inc. boosted its holdings in shares of Nordstrom by 1.8% in the second quarter. BlackRock Inc. now owns 10,184,495 shares of the specialty retailer’s stock valued at $208,477,000 after acquiring an additional 182,466 shares in the last quarter. State Street Corp boosted its holdings in shares of Nordstrom by 70.0% in the second quarter. State Street Corp now owns 8,640,239 shares of the specialty retailer’s stock valued at $176,866,000 after acquiring an additional 3,556,576 shares in the last quarter. Fisher Asset Management LLC boosted its holdings in shares of Nordstrom by 1.5% in the second quarter. Fisher Asset Management LLC now owns 2,454,375 shares of the specialty retailer’s stock valued at $50,241,000 after acquiring an additional 35,663 shares in the last quarter. Finally, Victory Capital Management Inc. boosted its holdings in shares of Nordstrom by 48.7% in the third quarter. Victory Capital Management Inc. now owns 2,312,694 shares of the specialty retailer’s stock valued at $34,552,000 after acquiring an additional 757,000 shares in the last quarter. Institutional investors and hedge funds own 62.56% of the company’s stock.

Nordstrom Stock Up 3.8 %

JWN stock traded up $0.73 during midday trading on Monday, reaching $19.85. The company had a trading volume of 1,526,974 shares, compared to its average volume of 4,321,498. Nordstrom, Inc. has a 1 year low of $12.88 and a 1 year high of $23.53. The company has a current ratio of 1.00, a quick ratio of 0.29 and a debt-to-equity ratio of 3.58. The company has a market capitalization of $3.22 billion, a P/E ratio of 26.56, a PEG ratio of 1.99 and a beta of 2.58. The company has a 50 day moving average of $18.07 and a two-hundred day moving average of $16.74.

Nordstrom (NYSE:JWNGet Free Report) last released its earnings results on Tuesday, November 21st. The specialty retailer reported $0.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.13 by $0.12. The company had revenue of $3.32 billion during the quarter, compared to the consensus estimate of $3.41 billion. Nordstrom had a net margin of 0.81% and a return on equity of 45.64%. The company’s revenue was down 6.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.20 EPS. On average, equities research analysts expect that Nordstrom, Inc. will post 2.06 earnings per share for the current fiscal year.

Nordstrom Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 13th. Shareholders of record on Tuesday, November 28th were given a $0.19 dividend. The ex-dividend date was Monday, November 27th. This represents a $0.76 annualized dividend and a yield of 3.83%. Nordstrom’s dividend payout ratio is 105.56%.

Analysts Set New Price Targets

JWN has been the subject of several recent analyst reports. Piper Sandler decreased their price objective on shares of Nordstrom from $20.00 to $17.00 and set a “neutral” rating for the company in a report on Wednesday, November 22nd. Telsey Advisory Group reduced their target price on shares of Nordstrom from $19.00 to $17.00 and set a “market perform” rating for the company in a report on Wednesday, November 22nd. The Goldman Sachs Group reduced their target price on shares of Nordstrom from $18.00 to $16.00 and set a “neutral” rating for the company in a report on Wednesday, November 22nd. StockNews.com upgraded shares of Nordstrom from a “hold” rating to a “buy” rating in a report on Friday. Finally, KeyCorp reduced their target price on shares of Nordstrom from $22.00 to $19.00 and set an “overweight” rating for the company in a report on Wednesday, October 25th. Four analysts have rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $16.50.

View Our Latest Research Report on Nordstrom

Nordstrom Profile

(Free Report)

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; and clearance stores under the Last Chance name.

See Also

Institutional Ownership by Quarter for Nordstrom (NYSE:JWN)

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