Walleye Capital LLC Invests $729,000 in Nordstrom, Inc. (NYSE:JWN)

Walleye Capital LLC purchased a new position in Nordstrom, Inc. (NYSE:JWNGet Rating) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 26,908 shares of the specialty retailer’s stock, valued at approximately $729,000.

Several other institutional investors have also recently made changes to their positions in JWN. Tcwp LLC purchased a new position in Nordstrom in the first quarter worth $26,000. Allworth Financial LP boosted its position in Nordstrom by 63.4% during the first quarter. Allworth Financial LP now owns 1,186 shares of the specialty retailer’s stock valued at $32,000 after buying an additional 460 shares during the period. Westpac Banking Corp purchased a new stake in Nordstrom during the first quarter valued at about $88,000. Meeder Asset Management Inc. purchased a new stake in Nordstrom during the first quarter valued at about $97,000. Finally, Harvest Fund Management Co. Ltd boosted its position in Nordstrom by 513.2% during the first quarter. Harvest Fund Management Co. Ltd now owns 5,028 shares of the specialty retailer’s stock valued at $136,000 after buying an additional 4,208 shares during the period. Institutional investors own 59.36% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on JWN shares. Telsey Advisory Group cut their price target on shares of Nordstrom from $28.00 to $25.00 and set a “market perform” rating for the company in a research report on Wednesday, August 24th. Deutsche Bank Aktiengesellschaft upped their price target on shares of Nordstrom from $31.00 to $32.00 in a research report on Wednesday, May 25th. Morgan Stanley cut their price target on shares of Nordstrom from $19.00 to $18.00 and set an “underweight” rating for the company in a research report on Wednesday, August 24th. StockNews.com lowered shares of Nordstrom from a “buy” rating to a “hold” rating in a report on Thursday, August 25th. Finally, Barclays dropped their target price on shares of Nordstrom from $21.00 to $18.00 and set an “underweight” rating for the company in a report on Thursday, August 25th. Four equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $25.53.

Nordstrom Price Performance

JWN stock opened at $19.25 on Wednesday. Nordstrom, Inc. has a 1 year low of $16.83 and a 1 year high of $36.43. The company has a market cap of $3.06 billion, a P/E ratio of 7.64, a PEG ratio of 1.33 and a beta of 2.26. The firm has a 50-day moving average of $21.33 and a 200 day moving average of $23.86. The company has a debt-to-equity ratio of 4.30, a current ratio of 1.01 and a quick ratio of 0.34.

Nordstrom (NYSE:JWNGet Rating) last announced its earnings results on Tuesday, August 23rd. The specialty retailer reported $0.81 earnings per share for the quarter, beating analysts’ consensus estimates of $0.80 by $0.01. Nordstrom had a net margin of 2.60% and a return on equity of 70.36%. During the same quarter in the prior year, the business earned $0.49 earnings per share. On average, sell-side analysts forecast that Nordstrom, Inc. will post 2.36 EPS for the current year.

Nordstrom declared that its Board of Directors has authorized a share buyback plan on Tuesday, May 24th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the specialty retailer to buy up to 15.2% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board believes its shares are undervalued.

Nordstrom Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 14th. Shareholders of record on Tuesday, August 30th were paid a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 3.95%. The ex-dividend date was Monday, August 29th. Nordstrom’s dividend payout ratio is 30.16%.

Nordstrom Profile

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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; TrunkClub.com; Nordstrom.ca; Nordstrom stores; Nordstrom Rack stores; Nordstrom Locals; Nordstromrack.com and HauteLook; clearance stores under the Last Chance name; Trunk Club clubhouses; and Jeffrey boutiques.

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Institutional Ownership by Quarter for Nordstrom (NYSE:JWN)

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