Fmr LLC Reduces Position in Nordstrom, Inc. (NYSE:JWN)

Fmr LLC lessened its holdings in Nordstrom, Inc. (NYSE:JWN) by 15.1% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 10,237 shares of the specialty retailer’s stock after selling 1,824 shares during the period. Fmr LLC’s holdings in Nordstrom were worth $230,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. raised its holdings in shares of Nordstrom by 17.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,422,856 shares of the specialty retailer’s stock valued at $32,000,000 after purchasing an additional 208,193 shares in the last quarter. Landscape Capital Management L.L.C. acquired a new stake in Nordstrom in the 3rd quarter worth approximately $212,000. Caprock Group LLC grew its holdings in shares of Nordstrom by 9.1% during the third quarter. Caprock Group LLC now owns 11,931 shares of the specialty retailer’s stock valued at $268,000 after buying an additional 1,000 shares during the last quarter. GSA Capital Partners LLP purchased a new stake in Nordstrom during the 3rd quarter valued at about $1,447,000. Finally, Venturi Wealth Management LLC increased its holdings in Nordstrom by 355.9% in the 3rd quarter. Venturi Wealth Management LLC now owns 1,272 shares of the specialty retailer’s stock worth $29,000 after buying an additional 993 shares during the period. 88.73% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on JWN shares. Telsey Advisory Group lifted their price objective on Nordstrom from $24.00 to $26.00 and gave the company a “market perform” rating in a research note on Wednesday, November 27th. Bank of America increased their target price on shares of Nordstrom from $20.00 to $22.00 and gave the company an “underperform” rating in a research report on Wednesday, November 27th. BMO Capital Markets lifted their price objective on Nordstrom from $20.00 to $22.00 and gave the stock a “market perform” rating in a research report on Wednesday, August 28th. JPMorgan Chase & Co. increased their price target on shares of Nordstrom from $19.00 to $20.00 and gave the company an “underweight” rating in a research note on Wednesday, August 28th. Finally, The Goldman Sachs Group raised their price objective on Nordstrom from $19.00 to $21.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 28th. Three equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, Nordstrom has an average rating of “Hold” and a consensus target price of $21.29.

Nordstrom Stock Up 2.0 %

JWN stock opened at $24.53 on Friday. The company has a debt-to-equity ratio of 2.65, a quick ratio of 0.35 and a current ratio of 1.14. Nordstrom, Inc. has a fifty-two week low of $16.63 and a fifty-two week high of $24.99. The firm has a market capitalization of $4.05 billion, a price-to-earnings ratio of 15.62 and a beta of 2.56. The company’s 50 day moving average price is $23.18 and its 200 day moving average price is $22.43.

Nordstrom (NYSE:JWN) last released its quarterly earnings data on Tuesday, November 26th. The specialty retailer reported $0.33 EPS for the quarter, beating analysts’ consensus estimates of $0.22 by $0.11. Nordstrom had a negative return on equity of 18.04% and a negative net margin of 1.57%. The business had revenue of $3.35 billion for the quarter, compared to the consensus estimate of $3.34 billion. During the same quarter in the prior year, the business posted $0.25 EPS. The business’s revenue for the quarter was up 4.6% on a year-over-year basis. On average, equities research analysts anticipate that Nordstrom, Inc. will post 1.94 EPS for the current fiscal year.

Nordstrom Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 18th. Stockholders of record on Tuesday, December 3rd were given a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 3.10%. The ex-dividend date of this dividend was Tuesday, December 3rd. Nordstrom’s dividend payout ratio (DPR) is currently 48.41%.

Insiders Place Their Bets

In other Nordstrom news, COO Alexis Depree sold 20,000 shares of the stock in a transaction that occurred on Tuesday, September 24th. The stock was sold at an average price of $23.20, for a total transaction of $464,000.00. Following the completion of the sale, the chief operating officer now directly owns 169,331 shares of the company’s stock, valued at approximately $3,928,479.20. This trade represents a 10.56 % decrease in their position. 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 corporate 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.