American International Group Inc. Trims Stake in Nordstrom, Inc. (NYSE:JWN)

American International Group Inc. reduced its position in Nordstrom, Inc. (NYSE:JWN) by 4.0% during the fourth quarter, HoldingsChannel.com reports. The firm owned 131,175 shares of the specialty retailer’s stock after selling 5,487 shares during the period. American International Group Inc.’s holdings in Nordstrom were worth $2,420,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Personal CFO Solutions LLC raised its position in Nordstrom by 5.7% in the 4th quarter. Personal CFO Solutions LLC now owns 11,882 shares of the specialty retailer’s stock worth $219,000 after purchasing an additional 636 shares during the period. Envestnet Portfolio Solutions Inc. increased its position in shares of Nordstrom by 4.5% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 18,604 shares of the specialty retailer’s stock worth $343,000 after acquiring an additional 802 shares during the period. Hexagon Capital Partners LLC increased its position in shares of Nordstrom by 77.6% during the fourth quarter. Hexagon Capital Partners LLC now owns 1,989 shares of the specialty retailer’s stock worth $37,000 after acquiring an additional 869 shares during the period. Sowell Financial Services LLC increased its position in shares of Nordstrom by 6.6% during the fourth quarter. Sowell Financial Services LLC now owns 17,097 shares of the specialty retailer’s stock worth $315,000 after acquiring an additional 1,053 shares during the period. Finally, Alps Advisors Inc. increased its position in shares of Nordstrom by 5.3% during the third quarter. Alps Advisors Inc. now owns 35,352 shares of the specialty retailer’s stock worth $528,000 after acquiring an additional 1,768 shares during the period. 88.73% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Telsey Advisory Group reaffirmed a “market perform” rating and set a $19.00 target price on shares of Nordstrom in a research report on Friday, May 31st. Evercore ISI raised their target price on shares of Nordstrom from $17.00 to $19.00 and gave the stock an “in-line” rating in a research report on Friday, May 31st. StockNews.com lowered shares of Nordstrom from a “buy” rating to a “hold” rating in a research report on Tuesday. JPMorgan Chase & Co. raised their target price on shares of Nordstrom from $15.00 to $17.00 and gave the stock an “underweight” rating in a research report on Friday, May 17th. Finally, Jefferies Financial Group reiterated a “hold” rating and set a $17.00 price objective (down from $18.00) on shares of Nordstrom in a research note on Thursday, March 7th. Five equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $17.42.

Nordstrom Price Performance

Shares of JWN opened at $21.09 on Wednesday. The company has a market cap of $3.45 billion, a price-to-earnings ratio of 11.52, a price-to-earnings-growth ratio of 2.44 and a beta of 2.58. Nordstrom, Inc. has a twelve month low of $12.88 and a twelve month high of $23.54. The company has a quick ratio of 0.36, a current ratio of 1.03 and a debt-to-equity ratio of 3.13. The company has a 50 day moving average of $20.76 and a two-hundred day moving average of $19.50.

Nordstrom (NYSE:JWN) last announced its earnings results on Thursday, May 30th. The specialty retailer reported ($0.24) earnings per share for the quarter, missing the consensus estimate of ($0.08) by ($0.16). The firm had revenue of $3.34 billion during the quarter, compared to analyst estimates of $3.19 billion. Nordstrom had a negative net margin of 1.35% and a negative return on equity of 26.45%. Nordstrom’s revenue was up 4.8% on a year-over-year basis. During the same quarter last year, the business earned $0.07 earnings per share. As a group, analysts predict that Nordstrom, Inc. will post 1.79 earnings per share for the current fiscal year.

Nordstrom Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 19th. Shareholders of record on Tuesday, June 4th were paid a $0.19 dividend. The ex-dividend date was Tuesday, June 4th. This represents a $0.76 annualized dividend and a yield of 3.60%. Nordstrom’s dividend payout ratio (DPR) is 41.53%.

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.