Franklin Resources Inc. Increases Holdings in Nordstrom, Inc. (NYSE:JWN)

Franklin Resources Inc. boosted its stake in Nordstrom, Inc. (NYSE:JWNFree Report) by 24.7% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 84,039 shares of the specialty retailer’s stock after buying an additional 16,625 shares during the quarter. Franklin Resources Inc. owned approximately 0.05% of Nordstrom worth $1,551,000 as of its most recent filing with the SEC.

A number of other large investors also recently made changes to their positions in JWN. Hexagon Capital Partners LLC lifted its stake in shares of Nordstrom by 77.6% during the 4th quarter. Hexagon Capital Partners LLC now owns 1,989 shares of the specialty retailer’s stock worth $37,000 after purchasing an additional 869 shares during the period. DekaBank Deutsche Girozentrale purchased a new position in shares of Nordstrom in the 3rd quarter worth $45,000. Rowlandmiller & PARTNERS.ADV purchased a new position in shares of Nordstrom in the 4th quarter worth $119,000. Gallacher Capital Management LLC purchased a new position in shares of Nordstrom in the 3rd quarter worth $166,000. Finally, EP Wealth Advisors LLC raised its position in shares of Nordstrom by 120.3% in the 3rd quarter. EP Wealth Advisors LLC now owns 12,027 shares of the specialty retailer’s stock worth $180,000 after buying an additional 6,567 shares during the period. Hedge funds and other institutional investors own 88.73% of the company’s stock.

Analysts Set New Price Targets

JWN has been the topic of several research reports. The Goldman Sachs Group increased their target price on Nordstrom from $16.00 to $18.00 and gave the stock a “neutral” rating in a research report on Wednesday, March 6th. Barclays increased their price target on Nordstrom from $15.00 to $18.00 and gave the company an “underweight” rating in a report on Friday, May 31st. JPMorgan Chase & Co. increased their price target on Nordstrom from $15.00 to $17.00 and gave the company an “underweight” rating in a report on Friday, May 17th. StockNews.com downgraded Nordstrom from a “buy” rating to a “hold” rating in a report on Monday. Finally, Bank of America increased their price target on Nordstrom from $15.00 to $18.00 and gave the company an “underperform” rating in a report on Friday, May 31st. Five equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $17.42.

Read Our Latest Analysis on JWN

Nordstrom Stock Down 3.2 %

Shares of Nordstrom stock opened at $22.28 on Wednesday. The business has a 50-day moving average of $20.09 and a 200-day moving average of $18.86. The company has a debt-to-equity ratio of 3.13, a current ratio of 1.03 and a quick ratio of 0.36. The company has a market capitalization of $3.64 billion, a PE ratio of 12.17, a P/E/G ratio of 2.51 and a beta of 2.58. Nordstrom, Inc. has a 1-year low of $12.88 and a 1-year high of $23.54.

Nordstrom (NYSE:JWNGet Free Report) last announced its earnings results on Thursday, May 30th. The specialty retailer reported ($0.24) earnings per share for the quarter, missing the consensus estimate of ($0.08) by ($0.16). The business had revenue of $3.34 billion for the quarter, compared to analyst estimates of $3.19 billion. Nordstrom had a negative net margin of 1.35% and a negative return on equity of 26.45%. The firm’s revenue was up 4.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.07 earnings per share. As a group, equities analysts forecast that Nordstrom, Inc. will post 1.8 EPS for the current fiscal year.

Nordstrom Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 19th. Investors of record on Tuesday, June 4th will be paid a $0.19 dividend. The ex-dividend date is Tuesday, June 4th. This represents a $0.76 dividend on an annualized basis and a yield of 3.41%. Nordstrom’s dividend payout ratio (DPR) is 41.53%.

About Nordstrom

(Free Report)

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.

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Institutional Ownership by Quarter for Nordstrom (NYSE:JWN)

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