Bank of New York Mellon Corp increased its position in Nordstrom, Inc. (NYSE:JWN)

VaselineSeptember 3, 2024

0 4 minutes read

Bank of New York Mellon Corp grew its position in shares of Nordstrom, Inc. (NYSE:JWN – Free Report) by 0.1% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,628,296 shares of the specialty retailer’s stock after purchasing an additional 1,210 shares during the period. Bank of New York Mellon Corp’s holdings in Nordstrom were worth $34,552,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of JWN. Register Financial Advisors LLC purchased a new stake in shares of Nordstrom in the 1st quarter valued at $30,000. Spire Wealth Management grew its position in Nordstrom by 100.0% in the first quarter. Spire Wealth Management now owns 2,200 shares of the specialty retailer’s stock valued at $45,000 after acquiring an additional 1,100 shares during the last quarter. Blue Trust Inc. raised its stake in Nordstrom by 10,045.8% during the second quarter. Blue Trust Inc. now owns 2,435 shares of the specialty retailer’s stock worth $49,000 after buying an additional 2,411 shares during the period. Hexagon Capital Partners LLC lifted its position in shares of Nordstrom by 33.1% in the first quarter. Hexagon Capital Partners LLC now owns 2,648 shares of the specialty retailer’s stock worth $54,000 after buying an additional 659 shares in the last quarter. Finally, CWM LLC boosted its holdings in shares of Nordstrom by 1,000.3% in the 1st quarter. CWM LLC now owns 3,730 shares of the specialty retailer’s stock valued at $76,000 after buying an additional 3,391 shares during the period. 88.73% of the shares are currently held by hedge funds and other institutional investors.

Nordstrom Stock Up 1.6%

Shares of NYSE:JWN opened at $22.34 on Tuesday. The company has a current ratio of 1.07, a quick ratio of 0.36, and a debt-to-equity ratio of 2.76. The firm has a 50-day simple moving average of $21.95 and a 200-day simple moving average of $20.71. The company has a market cap of $3.66 billion, a PE ratio of 12.21, a P/E/G ratio of 2.41 and a beta of 2.62. Nordstrom, Inc. it has a 12-month low of $12.88 and a 12-month high of $24.03.

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Nordstrom (NYSE:JWN – Get Free Report ) last announced its quarterly earnings results on Tuesday, August 27th. The specialty retailer reported $0.96 earnings per share for the quarter, topping analysts’ consensus estimates of $0.71 by $0.25. The firm had revenue of $3.89 billion during the quarter, compared to analysts’ expectations of $3.88 billion. Nordstrom had a negative net margin of 1.44% and a negative return on equity of 21.26%. Nordstrom’s quarterly revenue was up 3.2% compared to the same quarter last year. In the same period last year, the company earned $0.84 per share. On average, equities analysts predict that Nordstrom, Inc. will post 1.9 EPS for the current fiscal year.

Nordstrom Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 18th. Investors of record on Tuesday, September 3rd will be paid a dividend of $0.19 per share. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a dividend of $0.76 on an annualized basis and a yield of 3.40%. Nordstrom’s dividend payout ratio is currently 41.53%.

Analyst upgrades and downgrades

Several brokerages have recently weighed in on JWN. Barclays upped their target price on shares of Nordstrom from $15.00 to $18.00 and gave the stock an “underweight” rating in a research note on Friday, May 31st. JPMorgan Chase & Co. boosted their price objective on Nordstrom from $19.00 to $20.00 and gave the company an “underweight” rating in a research note on Wednesday, August 28th. TD Cowen boosted their price target on Nordstrom from $24.00 to $25.00 and gave the stock a “hold” rating in a research note on Wednesday, August 28th. BMO Capital Markets boosted their target price on Nordstrom from $20.00 to $22.00 and gave the stock a “market perform” rating in a report on Wednesday, August 28th. Finally, Telsey Advisory Group lifted their price objective on Nordstrom from $23.00 to $24.00 and gave the company a “market perform” rating in a research note on Wednesday, 28 August. Four analysts have rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $19.85, according to MarketBeat.com.

Read the latest stock report on JWN

Nordstrom Company Profile

(Free report)

Nordstrom, Inc, a fashion retailer, offers apparel, shoes, beauty, accessories and home goods for women, men, youth and children. Offers a wide range of branded and private label merchandise through various channels such as Nordstrom brand stores and online at Nordstrom.com; Nordstrom.ca; Nordstrom stores; Nordstrom Rack stores; Nordstrom Locals; ASOS; Nordstromrack.com; mobile application; and clearinghouses under the Last Chance name.