Barington Capital Group L.P. Cuts Holdings in Nordstrom, Inc. (NYSE:JWN)

Barington Capital Group L.P. lowered its holdings in Nordstrom, Inc. (NYSE:JWN) by 75.0% in the 2nd quarter, Holdings Channel reports. The firm owned 10,000 shares of the specialty retailer’s stock after selling 30,000 shares during the period. Nordstrom accounts for 0.2% of Barington Capital Group L.P.’s portfolio, making the stock its 13th biggest holding. Barington Capital Group L.P.’s holdings in Nordstrom were worth $212,000 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. Register Financial Advisors LLC bought a new stake in Nordstrom in the 1st quarter worth approximately $30,000. Atlas Capital Advisors LLC boosted its stake in shares of 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 buying an additional 752 shares during the last quarter. Rothschild Investment LLC bought a new stake in shares of Nordstrom in the second quarter worth $39,000. Blue Trust Inc. increased its position in Nordstrom by 10,045.8% during the second quarter. Blue Trust Inc. now owns 2,435 shares of the specialty retailer’s stock valued at $49,000 after acquiring an additional 2,411 shares during the last quarter. Finally, Hexagon Capital Partners LLC lifted its holdings in Nordstrom by 33.1% in the first quarter. Hexagon Capital Partners LLC now owns 2,648 shares of the specialty retailer’s stock valued at $54,000 after acquiring an additional 659 shares during the period. 88.73% of the stock is owned by institutional investors.

Nordstrom Price Performance

NYSE:JWN opened at $22.20 on Friday. The business’s 50-day simple moving average is $22.14 and its two-hundred day simple moving average is $21.08. Nordstrom, Inc. has a 52 week low of $12.88 and a 52 week high of $24.03. The stock has a market cap of $3.63 billion, a PE ratio of 12.13 and a beta of 2.61. The company has a quick ratio of 0.41, a current ratio of 1.07 and a debt-to-equity ratio of 2.76.

Nordstrom (NYSE:JWN) last issued its earnings results on Tuesday, August 27th. The specialty retailer reported $0.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.71 by $0.25. Nordstrom had a negative return on equity of 21.26% and a negative net margin of 1.44%. The company had revenue of $3.89 billion for the quarter, compared to the consensus estimate of $3.88 billion. During the same quarter last year, the company earned $0.84 EPS. The firm’s quarterly revenue was up 3.2% on a year-over-year basis. As a group, analysts forecast that Nordstrom, Inc. will post 1.9 EPS for the current fiscal year.

Nordstrom Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 18th. Investors of record on Tuesday, September 3rd were paid 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 3.42%. Nordstrom’s payout ratio is 41.53%.

Analyst Ratings Changes

A number of research firms have issued reports on JWN. Barclays upgraded Nordstrom from an “underweight” rating to an “equal weight” rating and boosted their price target for the company from $18.00 to $23.00 in a research note on Thursday, September 5th. Bank of America boosted their target price on shares of Nordstrom from $18.00 to $20.00 and gave the company an “underperform” rating in a research report on Wednesday, August 28th. BMO Capital Markets increased their price target 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. TD Cowen boosted their price objective on shares of Nordstrom from $24.00 to $25.00 and gave the company a “hold” rating in a research report on Wednesday, August 28th. Finally, KeyCorp cut Nordstrom from an “overweight” rating to a “sector weight” rating in a report on Thursday. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $20.23.

Insider Buying and Selling at Nordstrom

In other Nordstrom news, COO Alexis Depree sold 20,000 shares of the stock in a transaction dated 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 of the company’s stock, valued at approximately $3,928,479.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 5.78% of the stock is currently owned by insiders.

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.