Cyndeo Wealth Partners LLC Takes Position in Nordstrom, Inc. (NYSE:JWN)

Cyndeo Wealth Partners LLC purchased a new stake in Nordstrom, Inc. (NYSE:JWN) during the 3rd quarter, HoldingsChannel reports. The fund purchased 277,793 shares of the specialty retailer’s stock, valued at approximately $6,248,000.

Several other hedge funds also recently bought and sold shares of the company. Blue Trust Inc. grew its stake in Nordstrom by 57.7% during the third quarter. Blue Trust Inc. now owns 3,839 shares of the specialty retailer’s stock valued at $81,000 after acquiring an additional 1,404 shares in the last quarter. Creative Planning grew its stake in Nordstrom by 22.9% during the third quarter. Creative Planning now owns 12,025 shares of the specialty retailer’s stock valued at $270,000 after acquiring an additional 2,238 shares in the last quarter. Wedge Capital Management L L P NC grew its stake in Nordstrom by 12.7% during the third quarter. Wedge Capital Management L L P NC now owns 87,514 shares of the specialty retailer’s stock valued at $1,968,000 after acquiring an additional 9,871 shares in the last quarter. CWM LLC grew its stake 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 in the last quarter. Finally, Axiom Advisory LLC grew its stake in Nordstrom by 46.0% in the 3rd quarter. Axiom Advisory LLC now owns 1,100,864 shares of the specialty retailer’s stock worth $24,456,000 after buying an additional 346,994 shares in the last quarter. Hedge funds and other institutional investors own 88.73% of the company’s stock.

Nordstrom Price Performance

Shares of NYSE:JWN opened at $24.67 on Friday. The firm’s 50 day moving average price is $22.39 and its 200-day moving average price is $21.49. Nordstrom, Inc. has a twelve month low of $12.88 and a twelve month high of $24.93. The company has a quick ratio of 0.41, a current ratio of 1.07 and a debt-to-equity ratio of 2.76. The stock has a market capitalization of $4.04 billion, a PE ratio of 13.48 and a beta of 2.60.

Nordstrom (NYSE:JWN) last issued its quarterly earnings data on Tuesday, August 27th. The specialty retailer reported $0.96 earnings per share for the quarter, topping the consensus estimate of $0.71 by $0.25. Nordstrom had a negative net margin of 1.44% and a negative return on equity of 21.26%. The firm had revenue of $3.89 billion for the quarter, compared to analysts’ expectations of $3.88 billion. During the same quarter in the prior year, the business earned $0.84 EPS. The business’s quarterly revenue was up 3.2% on a year-over-year basis. Equities research analysts expect that Nordstrom, Inc. will post 1.89 EPS for the current year.

Nordstrom Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 18th. Investors of record on Tuesday, September 3rd were given a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 3.08%. The ex-dividend date was Tuesday, September 3rd. Nordstrom’s dividend payout ratio is presently 41.53%.

Insider Buying and Selling

In related news, COO Alexis Depree sold 20,000 shares of the business’s stock in a transaction on 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 owns 169,331 shares in the company, valued at approximately $3,928,479.20. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 5.78% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts have commented on JWN shares. BMO Capital Markets boosted their price target on shares of Nordstrom from $20.00 to $22.00 and gave the stock a “market perform” rating in a research note on Wednesday, August 28th. JPMorgan Chase & Co. upped their price objective on shares of Nordstrom from $19.00 to $20.00 and gave the stock an “underweight” rating in a report on Wednesday, August 28th. KeyCorp lowered shares of Nordstrom from an “overweight” rating to a “sector weight” rating in a report on Thursday, September 26th. Telsey Advisory Group upped their target price on shares of Nordstrom from $23.00 to $24.00 and gave the stock a “market perform” rating in a research report on Wednesday, August 28th. Finally, 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. Three research analysts have rated the stock with a sell rating, ten have issued a hold rating and one has given a buy rating to the stock. According to MarketBeat, Nordstrom has a consensus rating of “Hold” and an average target price of $20.23.

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.