Van ECK Associates Corp Takes Position in Nordstrom, Inc. (NYSE:JWN)

Posted by on May 18th, 2023

Van ECK Associates Corp purchased a new stake in shares of Nordstrom, Inc. (NYSE:JWN – Get Rating) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm purchased 12,121 shares of the specialty retailer’s stock, valued at approximately $196,000.

Other large investors have also recently modified their holdings of the company. Spire Wealth Management raised its holdings in shares of Nordstrom by 37.0% during the 4th quarter. Spire Wealth Management now owns 1,596 shares of the specialty retailer’s stock valued at $26,000 after buying an additional 431 shares in the last quarter. Sittner & Nelson LLC purchased a new position in shares of Nordstrom during the 4th quarter valued at about $29,000. Marshall & Sullivan Inc. WA purchased a new position in shares of Nordstrom during the 4th quarter valued at about $37,000. Newbridge Financial Services Group Inc. purchased a new position in Nordstrom in the 4th quarter worth approximately $40,000. Finally, Captrust Financial Advisors increased its stake in Nordstrom by 44.9% in the 2nd quarter. Captrust Financial Advisors now owns 2,738 shares of the specialty retailer’s stock worth $58,000 after purchasing an additional 849 shares during the period. Institutional investors own 66.41% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on JWN. Argus raised Nordstrom from a “hold” rating to a “buy” rating and set a $23.00 price target on the stock in a research note on Wednesday, March 8th. Gordon Haskett raised Nordstrom from a “reduce” rating to a “hold” rating and set a $22.00 price target on the stock in a research note on Friday, February 3rd. KeyCorp decreased their price target on Nordstrom from $30.00 to $22.00 and set an “overweight” rating on the stock in a research note on Friday, January 20th. Barclays reduced their target price on Nordstrom from $16.00 to $14.00 in a research note on Tuesday, May 2nd. Finally, Morgan Stanley reduced their target price on Nordstrom from $21.00 to $19.00 and set an “underweight” rating on the stock in a research note on Monday, January 23rd. Four equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, Nordstrom has a consensus rating of “Hold” and a consensus target price of $19.50.

Nordstrom Stock Performance

Shares of Nordstrom stock opened at $15.49 on Thursday. The stock has a market cap of $2.50 billion, a price-to-earnings ratio of 10.26, a PEG ratio of 1.30 and a beta of 2.21. The firm’s 50-day moving average is $15.97 and its 200 day moving average is $18.11. Nordstrom, Inc. has a 1 year low of $14.02 and a 1 year high of $27.72. 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 posted its earnings results on Thursday, March 2nd. The specialty retailer reported $0.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.65 by $0.09. The business had revenue of $4.20 billion for the quarter, compared to analysts’ expectations of $4.33 billion. Nordstrom had a net margin of 1.58% and a return on equity of 42.08%. The business’s revenue for the quarter was down 4.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.23 EPS. Sell-side analysts anticipate that Nordstrom, Inc. will post 1.96 EPS for the current fiscal year.

Nordstrom Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 14th. Stockholders of record on Tuesday, May 30th will be given a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 4.91%. Nordstrom’s payout ratio is currently 50.33%.

Nordstrom Company Profile

(Get Rating)

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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