Nordstrom, Inc. (NYSE:JWN) Shares Sold by AQR Capital Management LLC

AQR Capital Management LLC lowered its stake in shares of Nordstrom, Inc. (NYSE:JWN) by 60.8% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 638,756 shares of the specialty retailer’s stock after selling 990,477 shares during the quarter. AQR Capital Management LLC’s holdings in Nordstrom were worth $13,452,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of JWN. Capstone Investment Advisors LLC increased its stake in Nordstrom by 185.0% during the 1st quarter. Capstone Investment Advisors LLC now owns 211,471 shares of the specialty retailer’s stock valued at $4,287,000 after purchasing an additional 137,271 shares in the last quarter. Nomura Holdings Inc. raised its stake in Nordstrom by 152.2% in the 4th quarter. Nomura Holdings Inc. now owns 169,604 shares of the specialty retailer’s stock worth $3,129,000 after acquiring an additional 102,361 shares during the last quarter. Verition Fund Management LLC raised its stake in Nordstrom by 347.2% in the 4th quarter. Verition Fund Management LLC now owns 309,299 shares of the specialty retailer’s stock worth $5,707,000 after acquiring an additional 240,134 shares during the last quarter. Vanguard Group Inc. lifted its position in Nordstrom by 0.5% during the 4th 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 during the period. Finally, Mitsubishi UFJ Trust & Banking Corp grew its stake in Nordstrom by 2.1% during the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 199,586 shares of the specialty retailer’s stock valued at $4,024,000 after purchasing an additional 4,187 shares during the last quarter. 88.73% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

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 transaction, the chief operating officer now owns 169,331 shares of the company’s stock, valued at $3,928,479.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 5.78% of the stock is currently owned by insiders.

Nordstrom Stock Down 3.5 %

Shares of JWN opened at $21.70 on Wednesday. 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 firm has a market cap of $3.55 billion, a P/E ratio of 11.86 and a beta of 2.61. The stock’s 50 day moving average is $22.15 and its two-hundred day moving average is $21.16. Nordstrom, Inc. has a 12 month low of $12.88 and a 12 month high of $24.03.

Nordstrom (NYSE:JWN) last issued its quarterly earnings results on Tuesday, August 27th. The specialty retailer reported $0.96 EPS for the quarter, topping the consensus estimate of $0.71 by $0.25. The company 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%. The firm’s revenue was up 3.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.84 EPS. Analysts predict that Nordstrom, Inc. will post 1.9 earnings per share for the current fiscal year.

Nordstrom Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 18th. Investors of record on Tuesday, September 3rd were paid a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 3.50%. The ex-dividend date was Tuesday, September 3rd. Nordstrom’s dividend payout ratio is presently 41.53%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on JWN. Telsey Advisory Group raised their price objective on Nordstrom from $23.00 to $24.00 and gave the stock a “market perform” rating in a research note on Wednesday, August 28th. BMO Capital Markets raised their price target on shares of Nordstrom from $20.00 to $22.00 and gave the stock a “market perform” rating in a research report on Wednesday, August 28th. Barclays raised shares of 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 report on Thursday, September 5th. StockNews.com upgraded shares of Nordstrom from a “hold” rating to a “buy” rating in a research report on Thursday, August 8th. Finally, KeyCorp lowered shares of Nordstrom from an “overweight” rating to a “sector weight” rating in a report on Thursday, September 26th. Three analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $20.23.

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.