Verition Fund Management LLC Purchases 725,803 Shares of Nordstrom, Inc. (NYSE:JWN)

Verition Fund Management LLC raised its position in Nordstrom, Inc. (NYSE:JWN) by 147.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,218,365 shares of the specialty retailer’s stock after buying an additional 725,803 shares during the quarter. Verition Fund Management LLC owned about 0.74% of Nordstrom worth $27,401,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Venturi Wealth Management LLC boosted its position in shares of Nordstrom by 355.9% during the 3rd quarter. Venturi Wealth Management LLC now owns 1,272 shares of the specialty retailer’s stock worth $29,000 after acquiring an additional 993 shares in the last quarter. Atlas Capital Advisors LLC raised 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 purchasing an additional 752 shares in the last quarter. Rothschild Investment LLC bought a new stake in Nordstrom during the second quarter worth $39,000. Blue Trust Inc. boosted its holdings in shares of Nordstrom by 10,045.8% in the 2nd quarter. Blue Trust Inc. now owns 2,435 shares of the specialty retailer’s stock valued at $49,000 after purchasing an additional 2,411 shares in the last quarter. Finally, Point72 Hong Kong Ltd acquired a new stake in shares of Nordstrom in the 2nd quarter valued at $71,000. 88.73% of the stock is owned by institutional investors.

Insider Buying and Selling

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

Nordstrom Trading Down 8.1 %

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. Nordstrom, Inc. has a fifty-two week low of $14.80 and a fifty-two week high of $24.99. The company’s 50 day moving average price is $22.85 and its two-hundred day moving average price is $22.23. The firm has a market capitalization of $3.71 billion, a price-to-earnings ratio of 14.41 and a beta of 2.59.

Nordstrom (NYSE:JWN) last issued its quarterly earnings data on Tuesday, November 26th. The specialty retailer reported $0.33 earnings per share for the quarter, topping the consensus estimate of $0.22 by $0.11. The company had revenue of $3.35 billion for the quarter, compared to analysts’ expectations of $3.34 billion. Nordstrom had a negative net margin of 1.57% and a negative return on equity of 18.04%. Nordstrom’s revenue for the quarter was up 4.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.25 earnings per share. As a group, research analysts predict that Nordstrom, Inc. will post 1.93 earnings per share for the current year.

Nordstrom Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Tuesday, December 3rd will be paid 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 3.36%. Nordstrom’s payout ratio is 48.41%.

Analyst Ratings Changes

A number of research firms have recently commented on JWN. Barclays upgraded Nordstrom from an “underweight” rating to an “equal weight” rating and upped their price objective for the stock from $18.00 to $23.00 in a research report on Thursday, September 5th. JPMorgan Chase & Co. boosted their target price on Nordstrom from $19.00 to $20.00 and gave the stock an “underweight” rating in a research note on Wednesday, August 28th. BMO Capital Markets raised their price target on shares of Nordstrom from $20.00 to $22.00 and gave the company a “market perform” rating in a research note on Wednesday, August 28th. Telsey Advisory Group lifted their price target on shares of Nordstrom from $24.00 to $26.00 and gave the company a “market perform” rating in a report on Wednesday. Finally, Citigroup increased their price objective on shares of Nordstrom from $22.00 to $23.00 and gave the company a “neutral” rating in a research note on Tuesday, November 19th. 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 stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $21.29.

Nordstrom 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.