Sei Investments Co. Has $2.31 Million Holdings in Nordstrom, Inc. (NYSE:JWN)

Sei Investments Co. reduced its position in Nordstrom, Inc. (NYSE:JWN) by 6.6% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 108,982 shares of the specialty retailer’s stock after selling 7,648 shares during the quarter. Sei Investments Co.’s holdings in Nordstrom were worth $2,313,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Capstone Investment Advisors LLC increased its stake in Nordstrom by 185.0% in the first quarter. Capstone Investment Advisors LLC now owns 211,471 shares of the specialty retailer’s stock valued at $4,287,000 after acquiring an additional 137,271 shares during the last quarter. Nomura Holdings Inc. boosted its stake in Nordstrom by 152.2% in the fourth quarter. Nomura Holdings Inc. now owns 169,604 shares of the specialty retailer’s stock valued at $3,129,000 after buying an additional 102,361 shares in the last quarter. Verition Fund Management LLC grew its position in Nordstrom by 347.2% in the fourth quarter. Verition Fund Management LLC now owns 309,299 shares of the specialty retailer’s stock valued at $5,707,000 after acquiring an additional 240,134 shares during the last quarter. Vanguard Group Inc. raised its stake in Nordstrom by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 10,074,006 shares of the specialty retailer’s stock worth $185,865,000 after acquiring an additional 46,980 shares in the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp raised its stake in Nordstrom by 2.1% during the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 199,586 shares of the specialty retailer’s stock worth $4,024,000 after acquiring an additional 4,187 shares in the last quarter. 88.73% of the stock is currently owned by institutional investors and hedge funds.

Nordstrom Stock Performance

Shares of JWN stock opened at $21.97 on Friday. The stock has a market capitalization of $3.60 billion, a PE ratio of 12.01 and a beta of 2.60. The business’s 50 day simple moving average is $22.16 and its 200 day simple moving average is $21.23. The company has a debt-to-equity ratio of 2.76, a current ratio of 1.07 and a quick ratio of 0.41. Nordstrom, Inc. has a one year low of $12.88 and a one year high of $24.03.

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

Nordstrom Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 18th. Stockholders of record on Tuesday, September 3rd were given a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 3.46%. The ex-dividend date of this dividend was Tuesday, September 3rd. Nordstrom’s dividend payout ratio (DPR) is presently 41.53%.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on JWN shares. JPMorgan Chase & Co. lifted their price target on shares of Nordstrom from $19.00 to $20.00 and gave the company an “underweight” rating in a report on Wednesday, August 28th. Bank of America upped their price target on shares of Nordstrom from $18.00 to $20.00 and gave the stock an “underperform” rating in a report on Wednesday, August 28th. 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. KeyCorp cut Nordstrom from an “overweight” rating to a “sector weight” rating in a report on Thursday, September 26th. Finally, TD Cowen lifted their price target on Nordstrom from $24.00 to $25.00 and gave the company a “hold” rating in a research note on Wednesday, August 28th. Three equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has assigned a buy rating to the company. According to MarketBeat, Nordstrom currently has a consensus rating of “Hold” and a consensus price target of $20.23.

Insider Activity

In related news, COO Alexis Depree sold 20,000 shares of the company’s stock in a transaction dated Tuesday, September 24th. The stock was sold at an average price of $23.20, for a total transaction of $464,000.00. Following the sale, the chief operating officer now owns 169,331 shares in the company, valued at $3,928,479.20. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 5.78% of the stock is owned by company insiders.

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.