Arizona State Retirement System Sells 1,575 Shares of Nordstrom, Inc. (NYSE:JWN)

Arizona State Retirement System cut its position in Nordstrom, Inc. (NYSE:JWN) by 5.4% in the 2nd quarter, Holdings Channel.com reports. The firm owned 27,423 shares of the specialty retailer’s stock after selling 1,575 shares during the period. Arizona State Retirement System’s holdings in Nordstrom were worth $582,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the company. Victory Capital Management Inc. raised its position in Nordstrom by 1.7% in the second quarter. Victory Capital Management Inc. now owns 3,371,988 shares of the specialty retailer’s stock valued at $71,554,000 after purchasing an additional 57,546 shares during the last quarter. Commonwealth Equity Services LLC increased its stake in shares of Nordstrom by 0.9% in the second quarter. Commonwealth Equity Services LLC now owns 200,708 shares of the specialty retailer’s stock valued at $4,259,000 after buying an additional 1,709 shares during the period. Rothschild Investment LLC acquired a new stake in shares of Nordstrom in the second quarter valued at about $39,000. Atlas Capital Advisors LLC increased its stake in shares of Nordstrom by 101.8% in the second quarter. Atlas Capital Advisors LLC now owns 1,491 shares of the specialty retailer’s stock valued at $32,000 after buying an additional 752 shares during the period. Finally, Arjuna Capital acquired a new stake in shares of Nordstrom in the second quarter valued at about $1,518,000. 88.73% of the stock is currently owned by institutional investors.

Nordstrom Price Performance

Shares of NYSE JWN opened at $22.54 on Tuesday. The stock has a market cap of $3.69 billion, a PE ratio of 12.32, a price-to-earnings-growth ratio of 2.38 and a beta of 2.61. Nordstrom, Inc. has a fifty-two week low of $12.88 and a fifty-two week high of $24.03. The company has a debt-to-equity ratio of 2.76, a quick ratio of 0.41 and a current ratio of 1.07. The stock has a fifty day moving average of $22.19 and a 200-day moving average of $20.86.

Nordstrom (NYSE:JWN) last announced its quarterly earnings results on Tuesday, August 27th. The specialty retailer reported $0.96 earnings per share for the quarter, beating the consensus estimate of $0.71 by $0.25. The company had revenue of $3.89 billion during the quarter, compared to analysts’ expectations of $3.88 billion. Nordstrom had a negative return on equity of 21.26% and a negative net margin of 1.44%. The firm’s quarterly revenue was up 3.2% compared to the same quarter last year. During the same period in the previous year, the business earned $0.84 earnings per share. Equities research analysts anticipate that Nordstrom, Inc. will post 1.9 earnings per share for the current year.

Nordstrom Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 18th. Investors of record on Tuesday, September 3rd will be given a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 3.37%. The ex-dividend date is Tuesday, September 3rd. Nordstrom’s payout ratio is 41.53%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. The Goldman Sachs Group increased their price target on Nordstrom from $19.00 to $21.00 and gave the company a “neutral” rating in a research note 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. Bank of America raised their target price on Nordstrom from $18.00 to $20.00 and gave the stock an “underperform” rating in a research note on Wednesday, August 28th. Telsey Advisory Group raised their target price on Nordstrom from $23.00 to $24.00 and gave the stock a “market perform” 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 equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $20.23.

Nordstrom 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.