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

Franklin Resources Inc. raised its stake in shares of Nordstrom, Inc. (NYSE:JWN) by 29.9% in the 3rd quarter, HoldingsChannel reports. The firm owned 50,294 shares of the specialty retailer’s stock after purchasing an additional 11,583 shares during the period. Franklin Resources Inc.’s holdings in Nordstrom were worth $1,152,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of JWN. Raymond James & Associates grew its position in Nordstrom by 2.0% in the second quarter. Raymond James & Associates now owns 91,157 shares of the specialty retailer’s stock worth $1,934,000 after acquiring an additional 1,747 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Nordstrom by 11.5% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 21,790 shares of the specialty retailer’s stock worth $462,000 after purchasing an additional 2,244 shares during the last quarter. Atlas Capital Advisors LLC boosted its holdings in shares of Nordstrom by 101.8% in the 2nd quarter. Atlas Capital Advisors LLC now owns 1,491 shares of the specialty retailer’s stock worth $32,000 after purchasing an additional 752 shares in the last quarter. Rothschild Investment LLC bought a new position in shares of Nordstrom during the 2nd quarter valued at about $39,000. Finally, Commonwealth Equity Services LLC raised its holdings in shares of Nordstrom by 0.9% during the 2nd quarter. Commonwealth Equity Services LLC now owns 200,708 shares of the specialty retailer’s stock valued at $4,259,000 after buying an additional 1,709 shares in the last quarter. Hedge funds and other institutional investors own 88.73% of the company’s stock.

Analyst Ratings Changes

JWN has been the topic of a number of recent research reports. UBS Group increased their price target on shares of Nordstrom from $13.00 to $14.50 and gave the company a “sell” rating in a research report on Wednesday, November 27th. Evercore ISI lifted their target price on shares of Nordstrom from $20.00 to $22.00 and gave the stock an “in-line” rating in a research report on Wednesday, November 27th. Citigroup raised their price objective on Nordstrom from $22.00 to $23.00 and gave the company a “neutral” rating in a research note on Tuesday, November 19th. StockNews.com downgraded Nordstrom from a “strong-buy” rating to a “buy” rating in a report on Thursday, December 5th. Finally, KeyCorp cut Nordstrom from an “overweight” rating to a “sector weight” rating in a report on Thursday, September 26th. Three research analysts have rated the stock with a sell rating, ten have issued a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $21.13.

Nordstrom Price Performance

JWN opened at $24.21 on Friday. The company has a debt-to-equity ratio of 2.65, a quick ratio of 0.35 and a current ratio of 1.14. The stock has a market capitalization of $3.99 billion, a PE ratio of 15.42 and a beta of 2.56. The stock’s 50 day moving average price is $23.19 and its 200-day moving average price is $22.52. Nordstrom, Inc. has a 52-week low of $16.63 and a 52-week high of $24.99.

Nordstrom (NYSE:JWN) last issued its quarterly earnings data on Tuesday, November 26th. The specialty retailer reported $0.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.22 by $0.11. Nordstrom had a negative net margin of 1.57% and a negative return on equity of 18.04%. The business had revenue of $3.35 billion for the quarter, compared to the consensus estimate of $3.34 billion. During the same period in the previous year, the firm earned $0.25 EPS. The company’s quarterly revenue was up 4.6% compared to the same quarter last year. On average, equities research analysts predict that Nordstrom, Inc. will post 1.94 EPS for the current year.

Nordstrom Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 18th. Shareholders of record on Tuesday, December 3rd were given a dividend of $0.19 per share. The ex-dividend date was Tuesday, December 3rd. This represents a $0.76 annualized dividend and a yield of 3.14%. Nordstrom’s payout ratio is 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.