Penserra Capital Management LLC Reduces Stake in Nordstrom, Inc. (NYSE:JWN)

Penserra Capital Management LLC trimmed its position in shares of Nordstrom, Inc. (NYSE:JWN) by 18.7% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 38,846 shares of the specialty retailer’s stock after selling 8,952 shares during the quarter. Penserra Capital Management LLC’s holdings in Nordstrom were worth $873,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in shares of Nordstrom by 5.7% during the 1st quarter. Vanguard Group Inc. now owns 10,653,007 shares of the specialty retailer’s stock worth $215,936,000 after buying an additional 579,001 shares during the last quarter. Victory Capital Management Inc. raised its position in Nordstrom by 1.7% during the second quarter. Victory Capital Management Inc. now owns 3,371,988 shares of the specialty retailer’s stock worth $71,554,000 after acquiring an additional 57,546 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Nordstrom by 4.6% in the second quarter. Dimensional Fund Advisors LP now owns 3,136,639 shares of the specialty retailer’s stock valued at $66,557,000 after purchasing an additional 137,094 shares in the last quarter. American Century Companies Inc. lifted its holdings in shares of Nordstrom by 66.2% in the second quarter. American Century Companies Inc. now owns 1,661,227 shares of the specialty retailer’s stock valued at $35,251,000 after purchasing an additional 661,769 shares in the last quarter. Finally, Marshall Wace LLP grew its position in shares of Nordstrom by 38.4% in the second quarter. Marshall Wace LLP now owns 1,479,414 shares of the specialty retailer’s stock valued at $31,393,000 after purchasing an additional 410,152 shares during the last quarter. Institutional investors and hedge funds own 88.73% of the company’s stock.

Nordstrom Stock Performance

NYSE:JWN opened at $22.62 on Thursday. The company has a market cap of $3.71 billion, a P/E ratio of 13.23 and a beta of 2.59. The firm’s 50 day moving average is $22.86 and its two-hundred day moving average is $22.23. Nordstrom, Inc. has a fifty-two week low of $14.80 and a fifty-two week high of $24.99. 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, November 26th. The specialty retailer reported $0.33 earnings per share for the quarter, topping the consensus estimate of $0.22 by $0.11. Nordstrom had a negative return on equity of 21.26% and a negative net margin of 1.44%. The business had revenue of $3.35 billion for the quarter, compared to analyst estimates of $3.34 billion. During the same period last year, the company posted $0.25 EPS. The business’s quarterly revenue was up 4.6% on a year-over-year basis. Analysts expect that Nordstrom, Inc. will post 1.91 EPS for the current year.

Nordstrom Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Tuesday, December 3rd will be given a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 3.36%. The ex-dividend date of this dividend is Tuesday, December 3rd. Nordstrom’s dividend payout ratio (DPR) is presently 44.44%.

Insider Buying and Selling

In other news, COO Alexis Depree sold 20,000 shares of the stock in a transaction on Tuesday, September 24th. The shares were 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 owns 169,331 shares of the company’s stock, valued at $3,928,479.20. This represents a 10.56 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 5.78% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on JWN shares. Barclays upgraded Nordstrom from an “underweight” rating to an “equal weight” rating and lifted their price objective for the stock from $18.00 to $23.00 in a research report on Thursday, September 5th. TD Cowen upped their price objective on Nordstrom from $24.00 to $25.00 and gave the company a “hold” rating in a research report on Wednesday, August 28th. JPMorgan Chase & Co. increased their price objective on Nordstrom from $19.00 to $20.00 and gave the company an “underweight” rating in a research note on Wednesday, August 28th. UBS Group upped their target price on shares of Nordstrom from $13.00 to $14.50 and gave the company a “sell” rating in a report on Wednesday. Finally, The Goldman Sachs Group lifted their price target on shares of Nordstrom from $19.00 to $21.00 and gave the stock a “neutral” rating in a report on Wednesday, August 28th. Four analysts have rated the stock with a sell rating, ten have issued a hold rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $20.65.

Nordstrom Company 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.