Janney Montgomery Scott LLC Takes Position in Nordstrom, Inc. (NYSE:JWN)

Posted by Defense World Staff on Nov 4th, 2023

Nordstrom logo Janney Montgomery Scott LLC acquired a new position in Nordstrom, Inc. (NYSE:JWN – Free Report) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 12,569 shares of the specialty retailer’s stock, valued at approximately $257,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in JWN. New Mexico Educational Retirement Board boosted its stake in shares of Nordstrom by 15.4% in the 1st quarter. New Mexico Educational Retirement Board now owns 20,200 shares of the specialty retailer’s stock valued at $329,000 after purchasing an additional 2,700 shares during the last quarter. Westpac Banking Corp lifted its stake in shares of Nordstrom by 13.9% in the 1st quarter. Westpac Banking Corp now owns 37,768 shares of the specialty retailer’s stock valued at $614,000 after purchasing an additional 4,601 shares during the period. Capstone Investment Advisors LLC boosted its position in shares of Nordstrom by 99.3% during the 1st quarter. Capstone Investment Advisors LLC now owns 174,620 shares of the specialty retailer’s stock valued at $2,841,000 after purchasing an additional 87,025 shares in the last quarter. Y Intercept Hong Kong Ltd acquired a new stake in Nordstrom during the first quarter worth approximately $281,000. Finally, Garde Capital Inc. increased its holdings in Nordstrom by 22.7% in the first quarter. Garde Capital Inc. now owns 32,669 shares of the specialty retailer’s stock worth $532,000 after purchasing an additional 6,049 shares in the last quarter. Institutional investors and hedge funds own 62.56% of the company’s stock.

Analyst Upgrades and Downgrades

JWN has been the subject of several recent analyst reports. Citigroup reduced their price objective on shares of Nordstrom from $20.00 to $18.00 and set a “neutral” rating for the company in a research report on Friday, August 25th. StockNews.com began coverage on shares of Nordstrom in a research note on Thursday, October 5th. They issued a “buy” rating for the company. Bank of America cut their price objective on shares of Nordstrom from $14.00 to $13.00 and set an “underperform” rating on the stock in a research report on Tuesday, September 26th. JPMorgan Chase & Co. decreased their target price on Nordstrom from $21.00 to $20.00 in a research report on Sunday, August 27th. Finally, Barclays cut their price target on Nordstrom from $15.00 to $14.00 in a report on Sunday, August 27th. Five analysts have rated the stock with a sell rating, nine have issued a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $17.88.

Read Our Latest Stock Report on JWN

Insider Buying and Selling

In related news, insider Gemma Lionello sold 32,916 shares of the business’s stock in a transaction dated Thursday, October 5th. The shares were sold at an average price of $14.36, for a total value of $472,673.76. Following the transaction, the insider now directly owns 39,973 shares of the company’s stock, valued at approximately $574,012.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 5.90% of the stock is owned by insiders.

Nordstrom Stock Performance

NYSE JWN opened at $14.80 on Friday. Nordstrom, Inc. has a 1 year low of $13.24 and a 1 year high of $27.15. The company has a debt-to-equity ratio of 3.87, a current ratio of 0.99 and a quick ratio of 0.43. The firm has a market cap of $2.39 billion, a price-to-earnings ratio of 82.19, a PEG ratio of 0.87 and a beta of 2.43. The company has a fifty day moving average price of $14.53 and a 200-day moving average price of $17.09.

Nordstrom (NYSE:JWN – Get Free Report) last posted its earnings results on Thursday, August 24th. The specialty retailer reported $0.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.45 by $0.39. The firm had revenue of $3.77 billion during the quarter, compared to analyst estimates of $3.68 billion. Nordstrom had a net margin of 0.21% and a return on equity of 46.55%. The business’s revenue was down 7.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.81 EPS. As a group, equities research analysts predict that Nordstrom, Inc. will post 2.02 EPS for the current fiscal year.

Nordstrom Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 13th. Investors of record on Tuesday, August 29th were issued a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 5.14%. The ex-dividend date was Monday, August 28th. Nordstrom’s dividend payout ratio (DPR) is currently 422.22%.

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.