Mitsubishi UFJ Trust & Banking Corp Purchases 34,412 Shares of Nordstrom, Inc. (NYSE:JWN)

Mitsubishi UFJ Trust & Banking Corp raised its holdings in shares of Nordstrom, Inc. (NYSE:JWNGet Rating) by 65.9% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 86,651 shares of the specialty retailer’s stock after acquiring an additional 34,412 shares during the period. Mitsubishi UFJ Trust & Banking Corp’s holdings in Nordstrom were worth $1,831,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. Prudential Financial Inc. boosted its position in Nordstrom by 3.4% during the first quarter. Prudential Financial Inc. now owns 12,666 shares of the specialty retailer’s stock valued at $344,000 after buying an additional 415 shares during the period. Northwestern Mutual Wealth Management Co. boosted its position in Nordstrom by 10.3% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 4,860 shares of the specialty retailer’s stock valued at $103,000 after buying an additional 453 shares during the period. HighTower Advisors LLC boosted its position in Nordstrom by 0.8% during the first quarter. HighTower Advisors LLC now owns 58,656 shares of the specialty retailer’s stock valued at $1,592,000 after buying an additional 494 shares during the period. Guggenheim Capital LLC boosted its position in Nordstrom by 4.2% during the first quarter. Guggenheim Capital LLC now owns 14,001 shares of the specialty retailer’s stock valued at $380,000 after buying an additional 568 shares during the period. Finally, Treasurer of the State of North Carolina boosted its position in Nordstrom by 1.6% during the first quarter. Treasurer of the State of North Carolina now owns 40,713 shares of the specialty retailer’s stock valued at $1,104,000 after buying an additional 650 shares during the period. 59.36% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

JWN has been the subject of several analyst reports. Piper Sandler cut their price target on shares of Nordstrom from $28.00 to $26.00 and set an “overweight” rating for the company in a research report on Wednesday, August 24th. Citigroup dropped their target price on shares of Nordstrom from $22.00 to $21.00 in a report on Wednesday, August 24th. 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. StockNews.com initiated coverage on shares of Nordstrom in a report on Wednesday, October 12th. They set a “hold” rating for the company. Finally, Morgan Stanley dropped their target price on shares of Nordstrom from $19.00 to $18.00 and set an “underweight” rating for the company in a report on Wednesday, August 24th. Four analysts have rated the stock with a sell rating, ten have given a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, Nordstrom presently has a consensus rating of “Hold” and a consensus target price of $24.38.

Nordstrom Price Performance

Shares of NYSE JWN opened at $21.45 on Friday. The company has a market capitalization of $3.41 billion, a price-to-earnings ratio of 8.51, a P/E/G ratio of 1.51 and a beta of 2.17. The company has a debt-to-equity ratio of 4.30, a quick ratio of 0.34 and a current ratio of 1.01. The company has a 50 day simple moving average of $19.33 and a two-hundred day simple moving average of $21.63. Nordstrom, Inc. has a fifty-two week low of $16.14 and a fifty-two week high of $34.65.

Nordstrom (NYSE:JWNGet Rating) last announced its quarterly earnings results on Tuesday, August 23rd. The specialty retailer reported $0.81 earnings per share for the quarter, beating the consensus estimate of $0.80 by $0.01. The company had revenue of $4.10 billion during the quarter, compared to the consensus estimate of $3.97 billion. Nordstrom had a net margin of 2.60% and a return on equity of 70.36%. During the same quarter last year, the firm earned $0.49 earnings per share. Analysts expect that Nordstrom, Inc. will post 2.32 EPS for the current fiscal year.

Nordstrom Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 14th. Investors of record on Tuesday, November 29th will be given a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 3.54%. The ex-dividend date is Monday, November 28th. Nordstrom’s dividend payout ratio (DPR) is currently 30.16%.

About Nordstrom

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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.

See Also

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Institutional Ownership by Quarter for Nordstrom (NYSE:JWN)

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