Mengis Capital Management Inc. Has $799,000 Stake in Nordstrom, Inc. (NYSE:JWN)

Mengis Capital Management Inc. lowered its position in shares of Nordstrom, Inc. (NYSE:JWN) by 0.1% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 16,707 shares of the specialty retailer’s stock after selling 16 shares during the period. Mengis Capital Management Inc.’s holdings in Nordstrom were worth $799,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the stock. BlackRock Inc. boosted its stake in Nordstrom by 2,321.7% in the first quarter. BlackRock Inc. now owns 8,021,009 shares of the specialty retailer’s stock valued at $373,537,000 after buying an additional 7,689,800 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in Nordstrom by 20.9% in the first quarter. Bank of New York Mellon Corp now owns 7,896,754 shares of the specialty retailer’s stock valued at $367,753,000 after buying an additional 1,364,328 shares in the last quarter. State Street Corp boosted its stake in Nordstrom by 2.6% in the first quarter. State Street Corp now owns 6,330,520 shares of the specialty retailer’s stock valued at $294,822,000 after buying an additional 160,947 shares in the last quarter. Morgan Stanley boosted its stake in Nordstrom by 9.8% in the first quarter. Morgan Stanley now owns 3,495,790 shares of the specialty retailer’s stock valued at $162,799,000 after buying an additional 311,529 shares in the last quarter. Finally, Skandinaviska Enskilda Banken AB publ raised its position in shares of Nordstrom by 32.2% in the first quarter. Skandinaviska Enskilda Banken AB publ now owns 3,354,037 shares of the specialty retailer’s stock valued at $156,198,000 after buying an additional 816,498 shares during the last quarter. 66.53% of the stock is owned by hedge funds and other institutional investors.

Nordstrom, Inc. (JWN) traded down 0.25% during mid-day trading on Friday, hitting $44.33. The stock had a trading volume of 1,284,938 shares. The stock has a market cap of $7.37 billion, a P/E ratio of 21.00 and a beta of 0.83. Nordstrom, Inc. has a one year low of $39.53 and a one year high of $62.82. The company has a 50 day moving average price of $46.88 and a 200 day moving average price of $45.53.

Nordstrom (NYSE:JWN) last posted its quarterly earnings results on Thursday, August 10th. The specialty retailer reported $0.65 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.62 by $0.03. The business had revenue of $3.72 billion during the quarter, compared to the consensus estimate of $3.70 billion. Nordstrom had a net margin of 2.44% and a return on equity of 71.57%. Nordstrom’s revenue for the quarter was up 3.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.67 earnings per share. On average, equities analysts anticipate that Nordstrom, Inc. will post $2.97 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 12th. Investors of record on Monday, August 28th will be paid a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 3.34%. The ex-dividend date is Thursday, August 24th. Nordstrom’s dividend payout ratio (DPR) is 70.14%.

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Several brokerages recently weighed in on JWN. Atlantic Securities upgraded Nordstrom from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $45.00 to $58.00 in a research report on Thursday, May 4th. Zacks Investment Research upgraded Nordstrom from a “sell” rating to a “hold” rating in a research report on Wednesday, May 10th. Maxim Group set a $61.00 price objective on Nordstrom and gave the stock a “buy” rating in a research report on Thursday, May 4th. Gordon Haskett began coverage on Nordstrom in a research report on Tuesday, May 9th. They issued an “accumulate” rating and a $54.00 price objective for the company. Finally, TheStreet upgraded Nordstrom from a “c” rating to a “b-” rating in a research report on Wednesday, April 26th. Four analysts have rated the stock with a sell rating, seventeen have issued a hold rating and eight have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $48.10.

About Nordstrom

Nordstrom, Inc is a fashion specialty retailer in the United States. The Company’s segments include Retail and Credit. As of March 20, 2017, the Company operated 344 the United States stores located in 40 states as well as an e-commerce business. The Company also offers its customers a variety of payment products and services, including credit and debit cards.

Institutional Ownership by Quarter for Nordstrom (NYSE:JWN)

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