Eaton Vance Management Has $1.49 Million Stake in Nordstrom, Inc. (NYSE:JWN)

Posted by on Mar 6th, 2023

Eaton Vance Management increased its position in Nordstrom, Inc. (NYSE:JWN – Get Rating) by 9.2% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 89,223 shares of the specialty retailer’s stock after buying an additional 7,526 shares during the period. Eaton Vance Management owned 0.06% of Nordstrom worth $1,493,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in JWN. Captrust Financial Advisors increased its holdings in Nordstrom by 44.9% in the second quarter. Captrust Financial Advisors now owns 2,738 shares of the specialty retailer’s stock worth $58,000 after buying an additional 849 shares during the last quarter. SeaCrest Wealth Management LLC acquired a new position in Nordstrom in the second quarter worth approximately $66,000. Rockefeller Capital Management L.P. increased its holdings in Nordstrom by 1,224.5% in the third quarter. Rockefeller Capital Management L.P. now owns 4,225 shares of the specialty retailer’s stock worth $69,000 after buying an additional 3,906 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its holdings in Nordstrom by 10.3% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 4,860 shares of the specialty retailer’s stock worth $103,000 after buying an additional 453 shares during the last quarter. Finally, Fifth Third Bancorp increased its holdings in Nordstrom by 328.6% in the second quarter. Fifth Third Bancorp now owns 6,112 shares of the specialty retailer’s stock worth $129,000 after buying an additional 4,686 shares during the last quarter. Institutional investors and hedge funds own 66.41% of the company’s stock.

Nordstrom Stock Up 2.4 %

Shares of JWN stock opened at $19.80 on Monday. The stock has a market cap of $3.17 billion, a P/E ratio of 13.11, a price-to-earnings-growth ratio of 0.61 and a beta of 2.24. Nordstrom, Inc. has a one year low of $15.52 and a one year high of $29.59. The stock has a fifty day moving average price of $19.16 and a 200 day moving average price of $19.21. The company has a debt-to-equity ratio of 3.86, a current ratio of 1.07 and a quick ratio of 0.42.

Nordstrom (NYSE:JWN – Get Rating) last issued its earnings results on Thursday, March 2nd. The specialty retailer reported $0.74 EPS for the quarter, topping the consensus estimate of $0.65 by $0.09. Nordstrom had a return on equity of 42.08% and a net margin of 1.58%. The firm had revenue of $4.20 billion during the quarter, compared to analysts’ expectations of $4.33 billion. During the same period last year, the business earned $1.23 earnings per share. Nordstrom’s quarterly revenue was down 4.2% compared to the same quarter last year. Analysts predict that Nordstrom, Inc. will post 1.96 earnings per share for the current year.

Nordstrom Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 29th. Shareholders of record on Tuesday, March 14th will be paid a dividend of $0.19 per share. The ex-dividend date of this dividend is Monday, March 13th. This represents a $0.76 annualized dividend and a yield of 3.84%. Nordstrom’s dividend payout ratio is currently 50.33%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Credit Suisse Group restated a “neutral” rating and issued a $17.00 price objective on shares of Nordstrom in a report on Friday. Deutsche Bank Aktiengesellschaft decreased their target price on Nordstrom from $21.00 to $17.00 in a research report on Friday, January 20th. Gordon Haskett raised Nordstrom from a “reduce” rating to a “hold” rating and set a $22.00 target price for the company in a research report on Friday, February 3rd. Citigroup upped their target price on Nordstrom from $17.00 to $20.00 and gave the stock a “neutral” rating in a research report on Friday, February 24th. Finally, StockNews.com cut Nordstrom from a “buy” rating to a “hold” rating in a research report on Monday, December 12th. Four equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $19.41.

Nordstrom Company Profile

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Nordstrom, Inc engages in the manufacture and trade of clothes, shoes, and accessories. It operates through the following segments: Retail and Corporate/Other. The Retail segment consists of a selection of high-quality, brand-name, and private label merchandise, which includes apparel, shoes, cosmetics, and accessories for women, men, young adults, and children.

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Institutional Ownership by Quarter for Nordstrom (NYSE:JWN)

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