Douglas Lane & Associates LLC Has $24.87 Million Position in Nordstrom, Inc. (NYSE:JWN) (2024)

Douglas Lane & Associates LLC cut its holdings in shares of Nordstrom, Inc. (NYSE:JWN – Free Report) by 1.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,226,696 shares of the specialty retailer’s stock after selling 16,163 shares during the quarter. Douglas Lane & Associates LLC owned about 0.75% of Nordstrom worth $24,865,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. Alaska Permanent Fund Corp lifted its holdings in shares of Nordstrom by 9.9% during the first quarter. Alaska Permanent Fund Corp now owns 134,670 shares of the specialty retailer’s stock worth $2,730,000 after buying an additional 12,077 shares during the last quarter. CWM LLC increased its position in shares of Nordstrom by 1,000.3% during the first quarter. CWM LLC now owns 3,730 shares of the specialty retailer’s stock valued at $76,000 after purchasing an additional 3,391 shares during the period. Nomura Holdings Inc. increased its position in shares of Nordstrom by 152.2% during the fourth quarter. Nomura Holdings Inc. now owns 169,604 shares of the specialty retailer’s stock valued at $3,129,000 after purchasing an additional 102,361 shares during the period. Vanguard Group Inc. increased its position in shares of Nordstrom by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 10,074,006 shares of the specialty retailer’s stock valued at $185,865,000 after purchasing an additional 46,980 shares during the period. Finally, Winslow Asset Management Inc. increased its position in shares of Nordstrom by 5.4% during the fourth quarter. Winslow Asset Management Inc. now owns 167,896 shares of the specialty retailer’s stock valued at $3,098,000 after purchasing an additional 8,626 shares during the period. 88.73% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have recently issued reports on JWN. Jefferies Financial Group restated a “hold” rating and set a $17.00 price objective (down from $18.00) on shares of Nordstrom in a research report on Thursday, March 7th. The Goldman Sachs Group increased their target price on Nordstrom from $16.00 to $18.00 and gave the stock a “neutral” rating in a report on Wednesday, March 6th. Barclays increased their target price on Nordstrom from $15.00 to $18.00 and gave the stock an “underweight” rating in a report on Friday, May 31st. Telsey Advisory Group restated a “market perform” rating and set a $19.00 target price on shares of Nordstrom in a report on Friday, May 31st. Finally, Evercore ISI upped their price target on Nordstrom from $17.00 to $19.00 and gave the company an “in-line” rating in a research note on Friday, May 31st. Five equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $17.42.

View Our Latest Stock Analysis on JWN

Nordstrom Trading Up 0.5 %

NYSE JWN opened at $21.30 on Monday. The firm has a market cap of $3.49 billion, a P/E ratio of 11.64, a P/E/G ratio of 2.43 and a beta of 2.58. The company has a debt-to-equity ratio of 3.13, a current ratio of 1.03 and a quick ratio of 0.36. The stock’s 50-day moving average is $20.62 and its 200-day moving average is $19.43. Nordstrom, Inc. has a one year low of $12.88 and a one year high of $23.54.

Nordstrom (NYSE:JWN – Get Free Report) last released its quarterly earnings results on Thursday, May 30th. The specialty retailer reported ($0.24) EPS for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.16). The business had revenue of $3.34 billion for the quarter, compared to analyst estimates of $3.19 billion. Nordstrom had a negative return on equity of 26.45% and a negative net margin of 1.35%. The company’s revenue for the quarter was up 4.8% compared to the same quarter last year. During the same period in the prior year, the business earned $0.07 EPS. Sell-side analysts anticipate that Nordstrom, Inc. will post 1.79 earnings per share for the current fiscal year.

Nordstrom Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 19th. Stockholders of record on Tuesday, June 4th were given a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 3.57%. The ex-dividend date of this dividend was Tuesday, June 4th. Nordstrom’s dividend payout ratio is currently 41.53%.

About Nordstrom

(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; mobile application; and clearance stores under the Last Chance name.

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