Truist Financial Corp Has $2.57 Million Holdings in Nordstrom, Inc. (NYSE:JWN)

Truist Financial Corp trimmed its position in Nordstrom, Inc. (NYSE:JWN) by 3.3% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 97,163 shares of the specialty retailer’s stock after selling 3,358 shares during the quarter. Truist Financial Corp owned 0.06% of Nordstrom worth $2,570,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Walled Lake Planning & Wealth Management LLC acquired a new position in shares of Nordstrom in the second quarter valued at $29,000. TCTC Holdings LLC acquired a new position in shares of Nordstrom in the third quarter valued at $48,000. Atlas Private Wealth Advisors acquired a new position in shares of Nordstrom in the third quarter valued at $70,000. Koshinski Asset Management Inc. acquired a new position in shares of Nordstrom in the third quarter valued at $103,000. Finally, Solstein Capital LLC acquired a new position in shares of Nordstrom in the third quarter valued at $136,000. Institutional investors and hedge funds own 57.73% of the company’s stock.

In other Nordstrom news, Director Bradley D. Tilden bought 22,000 shares of Nordstrom stock in a transaction that occurred on Friday, November 26th. The stock was acquired at an average price of $21.27 per share, for a total transaction of $467,940.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 5.52% of the company’s stock.

A number of research analysts recently commented on the company. Deutsche Bank Aktiengesellschaft cut their target price on Nordstrom from $37.00 to $27.00 and set a “hold” rating for the company in a research note on Monday, November 29th. Jefferies Financial Group cut Nordstrom from a “buy” rating to a “hold” rating and cut their price objective for the company from $48.00 to $30.00 in a report on Wednesday, November 24th. William Blair reaffirmed a “market perform” rating on shares of Nordstrom in a report on Wednesday, November 24th. JPMorgan Chase & Co. cut their price target on shares of Nordstrom from $27.00 to $23.00 and set an “underweight” rating for the company in a report on Wednesday, November 24th. Finally, Morgan Stanley cut their price target on shares of Nordstrom from $27.00 to $22.00 and set an “underweight” rating for the company in a report on Friday, November 26th. Three analysts have rated the stock with a sell rating, eight have given a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $29.15.

Nordstrom stock opened at $22.26 on Friday. The stock has a market capitalization of $3.55 billion, a PE ratio of 556.50, a price-to-earnings-growth ratio of 3.04 and a beta of 2.41. Nordstrom, Inc. has a twelve month low of $18.94 and a twelve month high of $46.45. The company has a quick ratio of 0.22, a current ratio of 0.92 and a debt-to-equity ratio of 7.94. The company has a 50 day moving average of $24.82 and a 200-day moving average of $28.94.

Nordstrom (NYSE:JWN) last released its quarterly earnings results on Tuesday, November 23rd. The specialty retailer reported $0.39 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.56 by ($0.17). Nordstrom had a net margin of 0.08% and a return on equity of 27.68%. The company had revenue of $3.64 billion during the quarter, compared to analyst estimates of $3.54 billion. During the same quarter last year, the company earned $0.22 EPS. The firm’s quarterly revenue was up 17.7% compared to the same quarter last year. Equities analysts anticipate that Nordstrom, Inc. will post 1.28 EPS for the current fiscal year.

Nordstrom Company Profile

Nordstrom, Inc engages in the manufacture and trade of clothes, shoes, and accessories. It operates through Retail; and Corporate/Other. The Retail segment comprises selection of high-quality, brand-name, and private label merchandise, which includes apparel, shoes, cosmetics, and accessories for women, men, young adults, and children.

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Institutional Ownership by Quarter for Nordstrom (NYSE:JWN)

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