Partnership Wealth Management LLC Cuts Stake in Nordstrom, Inc. (NYSE:JWN)

Partnership Wealth Management LLC decreased its position in Nordstrom, Inc. (NYSE:JWN) by 93.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,899 shares of the specialty retailer’s stock after selling 71,627 shares during the period. Partnership Wealth Management LLC’s holdings in Nordstrom were worth $110,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in JWN. CANADA LIFE ASSURANCE Co boosted its position in Nordstrom by 0.6% during the first quarter. CANADA LIFE ASSURANCE Co now owns 90,144 shares of the specialty retailer’s stock worth $1,828,000 after purchasing an additional 520 shares in the last quarter. State of Michigan Retirement System boosted its position in shares of Nordstrom by 2.6% in the 1st quarter. State of Michigan Retirement System now owns 23,908 shares of the specialty retailer’s stock worth $485,000 after buying an additional 600 shares in the last quarter. Personal CFO Solutions LLC grew its stake in Nordstrom by 5.7% in the 4th quarter. Personal CFO Solutions LLC now owns 11,882 shares of the specialty retailer’s stock valued at $219,000 after acquiring an additional 636 shares during the last quarter. Hexagon Capital Partners LLC increased its holdings in Nordstrom by 33.1% during the 1st quarter. Hexagon Capital Partners LLC now owns 2,648 shares of the specialty retailer’s stock valued at $54,000 after acquiring an additional 659 shares in the last quarter. Finally, Atlas Capital Advisors LLC raised its position in Nordstrom by 101.8% during the second quarter. Atlas Capital Advisors LLC now owns 1,491 shares of the specialty retailer’s stock worth $32,000 after acquiring an additional 752 shares during the last quarter. Hedge funds and other institutional investors own 88.73% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. Barclays upgraded shares of Nordstrom from an “underweight” rating to an “equal weight” rating and increased their price target for the company from $18.00 to $23.00 in a research report on Thursday, September 5th. The Goldman Sachs Group boosted their price target on Nordstrom from $19.00 to $21.00 and gave the stock a “neutral” rating in a report on Wednesday, August 28th. Bank of America boosted their target price on shares of Nordstrom from $18.00 to $20.00 and gave the company an “underperform” rating in a research note on Wednesday, August 28th. Telsey Advisory Group raised their price target 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, JPMorgan Chase & Co. boosted their price objective on shares of Nordstrom from $19.00 to $20.00 and gave the company an “underweight” rating in a research report on Wednesday, August 28th. Three analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, Nordstrom has an average rating of “Hold” and an average 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 on Tuesday, September 24th. The shares were 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 represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 5.78% of the company’s stock.

Nordstrom Stock Performance

Shares of JWN stock opened at $21.99 on Wednesday. The firm has a market capitalization of $3.60 billion, a price-to-earnings ratio of 12.02 and a beta of 2.60. The company has a debt-to-equity ratio of 2.76, a quick ratio of 0.41 and a current ratio of 1.07. The company has a 50 day moving average price of $22.16 and a 200 day moving average price of $21.27. Nordstrom, Inc. has a one year low of $12.88 and a one year high of $24.03.

Nordstrom (NYSE:JWN) last announced 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 return on equity of 21.26% and a negative net margin of 1.44%. The firm’s revenue was up 3.2% on a year-over-year basis. During the same period in the prior year, the firm posted $0.84 earnings per share. Sell-side analysts anticipate that Nordstrom, Inc. will post 1.9 EPS for the current year.

Nordstrom Dividend Announcement

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

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.