Whitebox Advisors LLC Buys 4,500 Shares of Nordstrom, Inc. (NYSE:JWN)

Whitebox Advisors LLC raised its stake in shares of Nordstrom, Inc. (NYSE:JWN) by 4.3% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 108,957 shares of the specialty retailer’s stock after purchasing an additional 4,500 shares during the period. Whitebox Advisors LLC owned 0.07% of Nordstrom worth $2,450,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Venturi Wealth Management LLC increased its holdings in Nordstrom by 355.9% in the 3rd quarter. Venturi Wealth Management LLC now owns 1,272 shares of the specialty retailer’s stock worth $29,000 after acquiring an additional 993 shares in the last quarter. Atlas Capital Advisors LLC lifted its stake in shares of Nordstrom by 101.8% during the 2nd quarter. Atlas Capital Advisors LLC now owns 1,491 shares of the specialty retailer’s stock valued at $32,000 after buying an additional 752 shares in the last quarter. Rothschild Investment LLC bought a new position in Nordstrom in the 2nd quarter worth $39,000. Blue Trust Inc. increased its stake in Nordstrom by 10,045.8% in the 2nd 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 in the last quarter. Finally, Point72 Hong Kong Ltd bought a new stake in Nordstrom during the second quarter valued at about $71,000. Hedge funds and other institutional investors own 88.73% of the company’s stock.

Nordstrom Trading Down 2.2 %

Shares of JWN stock opened at $23.47 on Friday. The company has a market cap of $3.85 billion, a PE ratio of 14.95 and a beta of 2.56. Nordstrom, Inc. has a 1 year low of $15.08 and a 1 year high of $24.99. The stock’s 50 day simple moving average is $22.90 and its two-hundred day simple moving average is $22.30. The company has a debt-to-equity ratio of 2.65, a current ratio of 1.14 and a quick ratio of 0.35.

Nordstrom (NYSE:JWN) last released its earnings results on Tuesday, November 26th. The specialty retailer reported $0.33 earnings per share for the quarter, beating the consensus estimate of $0.22 by $0.11. The firm had revenue of $3.35 billion for the quarter, compared to the consensus estimate of $3.34 billion. Nordstrom had a negative return on equity of 18.04% and a negative net margin of 1.57%. The company’s revenue for the quarter was up 4.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.25 EPS. Research analysts predict that Nordstrom, Inc. will post 1.93 earnings per share for the current year.

Nordstrom Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Tuesday, December 3rd will be issued a $0.19 dividend. The ex-dividend date is Tuesday, December 3rd. This represents a $0.76 annualized dividend and a dividend yield of 3.24%. Nordstrom’s dividend payout ratio (DPR) is presently 48.41%.

Insider Transactions at Nordstrom

In related news, COO Alexis Depree sold 20,000 shares of the stock in a transaction dated Tuesday, September 24th. The shares were sold at an average price of $23.20, for a total value of $464,000.00. Following the sale, the chief operating officer now directly owns 169,331 shares of the company’s stock, valued at $3,928,479.20. This represents a 10.56 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 5.78% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently issued reports on JWN. Bank of America increased their target price on Nordstrom from $20.00 to $22.00 and gave the stock an “underperform” rating in a research report on Wednesday, November 27th. BMO Capital Markets lifted their price objective on shares of Nordstrom from $20.00 to $22.00 and gave the company a “market perform” rating in a research report on Wednesday, August 28th. The Goldman Sachs Group upped their target price on shares of Nordstrom from $19.00 to $21.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 28th. JPMorgan Chase & Co. boosted their price target on shares of Nordstrom from $19.00 to $20.00 and gave the stock an “underweight” rating in a research note on Wednesday, August 28th. Finally, Citigroup increased their price objective on shares of Nordstrom from $22.00 to $23.00 and gave the company a “neutral” rating in a report on Tuesday, November 19th. Three analysts have rated the stock with a sell rating, ten have given a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $21.29.

About Nordstrom

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; mobile application; and clearance stores under the Last Chance name.