Point72 Asset Management L.P. Reduces Holdings in Nordstrom, Inc. (NYSE:JWN)

Point72 Asset Management L.P. reduced its position in shares of Nordstrom, Inc. (NYSE:JWN) by 98.5% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 20,574 shares of the specialty retailer’s stock after selling 1,346,703 shares during the period. Point72 Asset Management L.P.’s holdings in Nordstrom were worth $437,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Stephens Inc. AR boosted its holdings in Nordstrom by 7.0% in the fourth quarter. Stephens Inc. AR now owns 145,169 shares of the specialty retailer’s stock valued at $2,678,000 after purchasing an additional 9,466 shares during the last quarter. Schroder Investment Management Group grew its position in shares of Nordstrom by 44.9% during the fourth quarter. Schroder Investment Management Group now owns 2,648,637 shares of the specialty retailer’s stock worth $48,867,000 after buying an additional 820,390 shares in the last quarter. Seven Eight Capital LP bought a new stake in shares of Nordstrom in the fourth quarter worth $6,128,000. Personal CFO Solutions LLC raised its holdings in Nordstrom by 5.7% in the fourth quarter. Personal CFO Solutions LLC now owns 11,882 shares of the specialty retailer’s stock valued at $219,000 after acquiring an additional 636 shares in the last quarter. Finally, Soviero Asset Management LP bought a new position in Nordstrom during the 4th quarter valued at $4,982,000. 88.73% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Nordstrom

In other Nordstrom news, COO Alexis Depree sold 20,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 24th. The stock was sold at an average price of $23.20, for a total value of $464,000.00. Following the completion of the sale, the chief operating officer now directly owns 169,331 shares in the company, valued at $3,928,479.20. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 5.78% of the company’s stock.

Nordstrom Trading Up 2.3 %

Shares of JWN stock opened at $21.97 on Friday. The firm has a market capitalization of $3.60 billion, a PE ratio of 12.01 and a beta of 2.60. The company has a debt-to-equity ratio of 2.76, a quick ratio of 0.41 and a current ratio of 1.07. Nordstrom, Inc. has a 1 year low of $12.88 and a 1 year high of $24.03. The stock has a fifty day moving average of $22.16 and a two-hundred day moving average of $21.23.

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

Nordstrom Dividend Announcement

The business also recently disclosed 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 was Tuesday, September 3rd. This represents a $0.76 dividend on an annualized basis and a dividend yield of 3.46%. Nordstrom’s dividend payout ratio is presently 41.53%.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on JWN. Barclays upgraded Nordstrom from an “underweight” rating to an “equal weight” rating and upped their price objective for the company from $18.00 to $23.00 in a research note on Thursday, September 5th. KeyCorp lowered Nordstrom from an “overweight” rating to a “sector weight” rating in a research report on Thursday, September 26th. TD Cowen lifted their price objective on shares of Nordstrom from $24.00 to $25.00 and gave the stock a “hold” rating in a report on Wednesday, August 28th. The Goldman Sachs Group increased their target price on shares of Nordstrom from $19.00 to $21.00 and gave the stock a “neutral” rating in a report on Wednesday, August 28th. Finally, StockNews.com raised shares of Nordstrom from a “hold” rating to a “buy” rating in a report on Thursday, August 8th. Three research analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has given a buy rating to the stock. According to MarketBeat, Nordstrom currently has an average rating of “Hold” and a consensus 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.