LSV Asset Management Sells 47,000 Shares of Nordstrom, Inc. (NYSE:JWN)

LSV Asset Management decreased its stake in Nordstrom, Inc. (NYSE:JWN) by 3.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,474,896 shares of the specialty retailer’s stock after selling 47,000 shares during the period. LSV Asset Management owned about 0.90% of Nordstrom worth $31,297,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in JWN. Register Financial Advisors LLC bought a new position in Nordstrom in the 1st quarter valued at approximately $30,000. Atlas Capital Advisors LLC lifted its stake in Nordstrom by 101.8% in the 2nd quarter. Atlas Capital Advisors LLC now owns 1,491 shares of the specialty retailer’s stock valued at $32,000 after purchasing an additional 752 shares during the last quarter. Rothschild Investment LLC bought a new position in Nordstrom in the 2nd quarter valued at approximately $39,000. Spire Wealth Management raised its stake in shares of Nordstrom by 100.0% during the first quarter. Spire Wealth Management now owns 2,200 shares of the specialty retailer’s stock valued at $45,000 after acquiring an additional 1,100 shares during the last quarter. Finally, Blue Trust Inc. raised its stake in shares of 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. Institutional investors own 88.73% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on JWN. The Goldman Sachs Group raised their price target on shares of Nordstrom from $19.00 to $21.00 and gave the company a “neutral” rating in a research note on Wednesday, August 28th. Evercore ISI raised their price target on shares of Nordstrom from $17.00 to $19.00 and gave the company an “in-line” rating in a research note on Friday, May 31st. Barclays raised shares of Nordstrom from an “underweight” rating to an “equal weight” rating and raised their price target for the company from $18.00 to $23.00 in a research note on Thursday, September 5th. Telsey Advisory Group lifted their target price on shares of Nordstrom from $23.00 to $24.00 and gave the stock a “market perform” rating in a research note on Wednesday, August 28th. Finally, TD Cowen lifted their target price on shares of Nordstrom from $24.00 to $25.00 and gave the stock a “hold” rating in a research note on Wednesday, August 28th. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, Nordstrom has a consensus rating of “Hold” and an average price target of $20.23.

Nordstrom Trading Down 3.2 %

NYSE:JWN opened at $22.08 on Tuesday. The company has a current ratio of 1.07, a quick ratio of 0.41 and a debt-to-equity ratio of 2.76. The stock has a market capitalization of $3.63 billion, a price-to-earnings ratio of 12.07, a PEG ratio of 2.48 and a beta of 2.61. The firm has a fifty day simple moving average of $22.11 and a two-hundred day simple moving average of $20.81. Nordstrom, Inc. has a 12 month low of $12.88 and a 12 month high of $24.03.

Nordstrom (NYSE:JWN) last posted its quarterly earnings results on Tuesday, August 27th. The specialty retailer reported $0.96 EPS for the quarter, topping analysts’ consensus estimates of $0.71 by $0.25. The business had revenue of $3.89 billion during the quarter, compared to analysts’ expectations of $3.88 billion. Nordstrom had a negative net margin of 1.44% and a negative return on equity of 21.26%. The business’s quarterly revenue was up 3.2% on a year-over-year basis. During the same period last year, the company posted $0.84 earnings per share. Analysts expect that Nordstrom, Inc. will post 1.89 EPS for the current fiscal year.

Nordstrom Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 18th. Shareholders of record on Tuesday, September 3rd will be issued a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 3.44%. The ex-dividend date of this dividend is Tuesday, September 3rd. Nordstrom’s payout ratio is 41.53%.

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.