Verition Fund Management LLC Has $27.40 Million Position in Nordstrom, Inc. (NYSE:JWN)

Verition Fund Management LLC boosted its stake in Nordstrom, Inc. (NYSE:JWN) by 147.4% in the third quarter, HoldingsChannel reports. The firm owned 1,218,365 shares of the specialty retailer’s stock after buying an additional 725,803 shares during the period. Verition Fund Management LLC’s holdings in Nordstrom were worth $27,401,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of JWN. CANADA LIFE ASSURANCE Co grew its stake in shares of Nordstrom by 0.6% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 90,144 shares of the specialty retailer’s stock valued at $1,828,000 after buying an additional 520 shares during the period. Atlas Capital Advisors LLC grew its holdings in Nordstrom by 101.8% during the second quarter. Atlas Capital Advisors LLC now owns 1,491 shares of the specialty retailer’s stock worth $32,000 after buying an additional 752 shares in the last quarter. State of Alaska Department of Revenue raised its position in Nordstrom by 7.3% in the 3rd quarter. State of Alaska Department of Revenue now owns 11,236 shares of the specialty retailer’s stock valued at $252,000 after buying an additional 760 shares during the last quarter. Stephens Inc. AR lifted its stake in Nordstrom by 0.5% during the 3rd quarter. Stephens Inc. AR now owns 153,061 shares of the specialty retailer’s stock valued at $3,442,000 after acquiring an additional 805 shares in the last quarter. Finally, CWM LLC boosted its holdings in Nordstrom by 28.7% during the 3rd quarter. CWM LLC now owns 3,628 shares of the specialty retailer’s stock worth $82,000 after acquiring an additional 810 shares during the last quarter. 88.73% of the stock is owned by institutional investors.

Insider Activity at Nordstrom

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

Analyst Ratings Changes

Several analysts have recently commented on the stock. StockNews.com upgraded shares of Nordstrom from a “buy” rating to a “strong-buy” rating in a report on Wednesday. KeyCorp cut shares of Nordstrom from an “overweight” rating to a “sector weight” rating in a research report on Thursday, September 26th. TD Cowen boosted their target price on Nordstrom from $24.00 to $25.00 and gave the stock a “hold” rating in a research note on Wednesday, August 28th. Citigroup increased their price target on Nordstrom from $22.00 to $23.00 and gave the company a “neutral” rating in a research report on Tuesday, November 19th. Finally, Bank of America boosted their price objective on Nordstrom from $20.00 to $22.00 and gave the stock an “underperform” rating in a research report on Wednesday. Three research analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $21.29.

Nordstrom Stock Down 8.1 %

Shares of NYSE JWN opened at $22.62 on Friday. The company has a debt-to-equity ratio of 2.65, a current ratio of 1.14 and a quick ratio of 0.41. The stock has a market capitalization of $3.71 billion, a PE ratio of 14.41 and a beta of 2.59. Nordstrom, Inc. has a one year low of $14.80 and a one year high of $24.99. The business’s fifty day moving average price is $22.85 and its 200-day moving average price is $22.23.

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

Nordstrom Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Tuesday, December 3rd will be issued a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 3.36%. The ex-dividend date is Tuesday, December 3rd. Nordstrom’s dividend payout ratio (DPR) is presently 48.41%.

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.