Nordstrom, Inc. (NYSE:JWN) Shares Sold by Retirement Systems of Alabama

Retirement Systems of Alabama decreased its stake in shares of Nordstrom, Inc. (NYSE:JWN) by 3.0% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 117,289 shares of the specialty retailer’s stock after selling 3,611 shares during the quarter. Retirement Systems of Alabama owned about 0.07% of Nordstrom worth $2,638,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Venturi Wealth Management LLC raised its holdings 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 during the period. Atlas Capital Advisors LLC increased 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 worth $32,000 after purchasing an additional 752 shares during the last quarter. Rothschild Investment LLC acquired a new stake in Nordstrom during the second quarter worth about $39,000. Blue Trust Inc. raised its stake in Nordstrom by 10,045.8% during the second quarter. Blue Trust Inc. now owns 2,435 shares of the specialty retailer’s stock worth $49,000 after purchasing an additional 2,411 shares during the period. Finally, Point72 Hong Kong Ltd acquired a new position in Nordstrom in the 2nd quarter valued at about $71,000. Institutional investors and hedge funds own 88.73% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently commented on JWN. BMO Capital Markets lifted their price target on shares of Nordstrom from $20.00 to $22.00 and gave the company a “market perform” rating in a research report on Wednesday, August 28th. Barclays upgraded Nordstrom from an “underweight” rating to an “equal weight” rating and lifted their target price for the company from $18.00 to $23.00 in a research report on Thursday, September 5th. The Goldman Sachs Group raised their price objective on Nordstrom from $19.00 to $21.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 28th. Bank of America upped their target price on shares of Nordstrom from $20.00 to $22.00 and gave the company an “underperform” rating in a research report on Wednesday, November 27th. Finally, 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 research report on Wednesday, November 27th. Three investment analysts have rated the stock with a sell rating, ten have given a hold rating and one has given a buy rating to the company. According to data from MarketBeat, Nordstrom currently has an average rating of “Hold” and a consensus price target of $21.29.

Insider Buying and Selling

In other Nordstrom news, COO Alexis Depree sold 20,000 shares of the business’s 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 transaction, the chief operating officer now owns 169,331 shares in the company, valued at $3,928,479.20. The trade was a 10.56 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 5.78% of the company’s stock.

Nordstrom Stock Performance

Shares of JWN stock opened at $24.53 on Friday. Nordstrom, Inc. has a 52 week low of $16.63 and a 52 week high of $24.99. The firm has a 50 day moving average of $23.18 and a two-hundred day moving average of $22.43. The company has a quick ratio of 0.35, a current ratio of 1.14 and a debt-to-equity ratio of 2.65. The stock has a market capitalization of $4.05 billion, a PE ratio of 15.62 and a beta of 2.56.

Nordstrom (NYSE:JWN) last released its earnings results on Tuesday, November 26th. The specialty retailer reported $0.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.22 by $0.11. Nordstrom had a negative return on equity of 18.04% and a negative net margin of 1.57%. The firm had revenue of $3.35 billion during the quarter, compared to analyst estimates of $3.34 billion. During the same period last year, the business posted $0.25 earnings per share. Nordstrom’s revenue was up 4.6% compared to the same quarter last year. On average, research analysts predict that Nordstrom, Inc. will post 1.94 EPS for the current fiscal year.

Nordstrom Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 18th. Investors of record on Tuesday, December 3rd were paid a dividend of $0.19 per share. The ex-dividend date was Tuesday, December 3rd. This represents a $0.76 dividend on an annualized basis and a dividend yield of 3.10%. Nordstrom’s payout ratio is 48.41%.

About Nordstrom

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.