Maverick Capital Ltd. Increases Stock Position in Nordstrom, Inc. (NYSE:JWN)

Maverick Capital Ltd. lifted its holdings in Nordstrom, Inc. (NYSE:JWN) by 45.8% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 173,262 shares of the specialty retailer’s stock after purchasing an additional 54,428 shares during the period. Maverick Capital Ltd.’s holdings in Nordstrom were worth $3,897,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. CANADA LIFE ASSURANCE Co lifted its position in Nordstrom by 0.6% during the first quarter. CANADA LIFE ASSURANCE Co now owns 90,144 shares of the specialty retailer’s stock valued at $1,828,000 after acquiring an additional 520 shares during the last quarter. Atlas Capital Advisors LLC lifted its position in Nordstrom by 101.8% during the second quarter. Atlas Capital Advisors LLC now owns 1,491 shares of the specialty retailer’s stock valued at $32,000 after acquiring an additional 752 shares during the last quarter. State of Alaska Department of Revenue lifted its position in Nordstrom by 7.3% during the third quarter. State of Alaska Department of Revenue now owns 11,236 shares of the specialty retailer’s stock valued at $252,000 after acquiring an additional 760 shares during the last quarter. Stephens Inc. AR lifted its position in Nordstrom by 0.5% during the third 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 during the last quarter. Finally, CWM LLC lifted its position in Nordstrom by 28.7% during the third quarter. CWM LLC now owns 3,628 shares of the specialty retailer’s stock valued at $82,000 after acquiring an additional 810 shares during the last quarter. Hedge funds and other institutional investors own 88.73% of the company’s stock.

Nordstrom Stock Up 0.4 %

JWN stock opened at $22.71 on Friday. The firm has a market cap of $3.73 billion, a PE ratio of 14.47 and a beta of 2.59. The company has a debt-to-equity ratio of 2.65, a quick ratio of 0.41 and a current ratio of 1.14. The firm’s fifty day moving average is $22.85 and its 200 day moving average is $22.24. Nordstrom, Inc. has a one year low of $15.08 and a one year high of $24.99.

Nordstrom (NYSE:JWN) last released its quarterly earnings results 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 company had revenue of $3.35 billion for the quarter, compared to analyst estimates of $3.34 billion. Nordstrom had a negative net margin of 1.57% and a negative return on equity of 18.04%. The firm’s revenue was up 4.6% on a year-over-year basis. During the same quarter last year, the business earned $0.25 earnings per share. On average, research analysts forecast that Nordstrom, Inc. will post 1.93 EPS for the current year.

Nordstrom Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Tuesday, December 3rd will be given a $0.19 dividend. The ex-dividend date of this dividend is Tuesday, December 3rd. This represents a $0.76 annualized dividend and a dividend yield of 3.35%. Nordstrom’s dividend payout ratio (DPR) is 48.41%.

Insider Activity

In other news, COO Alexis Depree sold 20,000 shares of the firm’s 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 transaction, the chief operating officer now directly owns 169,331 shares of the company’s stock, valued at approximately $3,928,479.20. This trade represents a 10.56 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Company insiders own 5.78% of the company’s stock.

Analyst Upgrades and Downgrades

JWN has been the subject of a number of analyst reports. Bank of America increased their target price on shares of Nordstrom from $20.00 to $22.00 and gave the company an “underperform” rating in a research report on Wednesday. JPMorgan Chase & Co. increased their target price on shares of Nordstrom from $19.00 to $20.00 and gave the company an “underweight” rating in a research report on Wednesday, August 28th. BMO Capital Markets raised their price target on shares of Nordstrom from $20.00 to $22.00 and gave the stock a “market perform” rating in a report on Wednesday, August 28th. Barclays raised shares of Nordstrom from an “underweight” rating to an “equal weight” rating and raised their price target for the stock from $18.00 to $23.00 in a report on Thursday, September 5th. Finally, Evercore ISI raised their price target on shares of Nordstrom from $20.00 to $22.00 and gave the stock an “in-line” rating in a report on Wednesday. Three equities research analysts have rated the stock with a sell rating, ten have given a hold rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $21.29.

Nordstrom Company Profile

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.