Royce & Associates LP Lowers Stock Holdings in Nordstrom, Inc. (NYSE:JWN)

Royce & Associates LP lessened its holdings in Nordstrom, Inc. (NYSE:JWN) by 80.1% in the third quarter, HoldingsChannel reports. The institutional investor owned 126,590 shares of the specialty retailer’s stock after selling 509,220 shares during the quarter. Royce & Associates LP’s holdings in Nordstrom were worth $2,847,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Venturi Wealth Management LLC boosted its stake in shares of Nordstrom by 355.9% in the third 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 during the period. Atlas Capital Advisors LLC lifted its holdings in 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 Nordstrom in the 2nd quarter worth approximately $39,000. Blue Trust Inc. grew its holdings in Nordstrom by 10,045.8% during the 2nd quarter. Blue Trust Inc. now owns 2,435 shares of the specialty retailer’s stock valued at $49,000 after buying an additional 2,411 shares in the last quarter. Finally, Point72 Hong Kong Ltd bought a new stake in shares of Nordstrom during the second quarter valued at approximately $71,000. 88.73% of the stock is owned by institutional investors.

Insider Activity

In related news, COO Alexis Depree sold 20,000 shares of the firm’s stock in a transaction dated Tuesday, September 24th. The stock was sold at an average price of $23.20, for a total transaction of $464,000.00. Following the sale, the chief operating officer now owns 169,331 shares of the company’s stock, valued at $3,928,479.20. This trade represents a 10.56 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 5.78% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. BMO Capital Markets upped their target price on shares of Nordstrom from $20.00 to $22.00 and gave the stock a “market perform” rating in a research report on Wednesday, August 28th. Bank of America raised their price objective on Nordstrom from $18.00 to $20.00 and gave the company an “underperform” rating in a research report on Wednesday, August 28th. The Goldman Sachs Group lifted their target price on Nordstrom from $19.00 to $21.00 and gave the stock a “neutral” rating in a report on Wednesday, August 28th. JPMorgan Chase & Co. increased their price target on Nordstrom from $19.00 to $20.00 and gave the company an “underweight” rating in a research note on Wednesday, August 28th. Finally, StockNews.com raised Nordstrom from a “hold” rating to a “buy” rating in a research note on Thursday, August 8th. Three investment analysts have rated the stock with a sell rating, ten have given a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, Nordstrom currently has a consensus rating of “Hold” and a consensus price target of $20.33.

Nordstrom Stock Down 2.4 %

Shares of JWN opened at $22.31 on Tuesday. Nordstrom, Inc. has a 52-week low of $13.68 and a 52-week high of $24.93. The company has a market cap of $3.66 billion, a PE ratio of 13.05 and a beta of 2.59. 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 business has a fifty day moving average of $22.74 and a 200 day moving average of $22.07.

Nordstrom (NYSE:JWN) last released its quarterly earnings results on Tuesday, August 27th. The specialty retailer reported $0.96 EPS for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $3.88 billion. During the same period in the previous year, the company earned $0.84 EPS. The firm’s revenue for the quarter was up 3.2% compared to the same quarter last year. On average, sell-side analysts expect that Nordstrom, Inc. will post 1.91 EPS for the current year.

Nordstrom Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 18th. Shareholders of record on Tuesday, September 3rd were given a dividend of $0.19 per share. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $0.76 annualized dividend and a yield of 3.41%. Nordstrom’s dividend payout ratio (DPR) is presently 44.44%.

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.