State of New Jersey Common Pension Fund D Boosts Stock Position in Nordstrom, Inc. (NYSE:JWN)

State of New Jersey Common Pension Fund D boosted its stake in shares of Nordstrom, Inc. (NYSE:JWN) by 5.9% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 91,536 shares of the specialty retailer’s stock after buying an additional 5,072 shares during the period. State of New Jersey Common Pension Fund D owned approximately 0.06% of Nordstrom worth $2,059,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC raised its position in shares of Nordstrom by 26.9% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 6,824 shares of the specialty retailer’s stock worth $138,000 after purchasing an additional 1,448 shares during the last quarter. Swiss National Bank lifted its stake in shares of Nordstrom by 0.5% in the first quarter. Swiss National Bank now owns 208,200 shares of the specialty retailer’s stock worth $4,220,000 after buying an additional 1,100 shares in the last quarter. State Board of Administration of Florida Retirement System grew its holdings in shares of Nordstrom by 2.9% during the first quarter. State Board of Administration of Florida Retirement System now owns 128,937 shares of the specialty retailer’s stock valued at $2,614,000 after buying an additional 3,686 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp increased its position in shares of Nordstrom by 2.1% during the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 199,586 shares of the specialty retailer’s stock valued at $4,024,000 after acquiring an additional 4,187 shares in the last quarter. Finally, Vanguard Group Inc. raised its holdings in Nordstrom by 5.7% in the 1st quarter. Vanguard Group Inc. now owns 10,653,007 shares of the specialty retailer’s stock worth $215,936,000 after acquiring an additional 579,001 shares during the last quarter. Hedge funds and other institutional investors own 88.73% of the company’s stock.

Nordstrom Stock Down 0.7 %

NYSE JWN opened at $22.87 on Friday. Nordstrom, Inc. has a 52 week low of $13.68 and a 52 week high of $24.93. The company has a quick ratio of 0.41, a current ratio of 1.07 and a debt-to-equity ratio of 2.76. The company has a market capitalization of $3.76 billion, a P/E ratio of 13.37 and a beta of 2.59. The stock’s 50-day moving average price is $22.74 and its 200-day moving average price is $22.01.

Nordstrom (NYSE:JWN) last released its 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 company had revenue of $3.89 billion for 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 firm’s revenue was up 3.2% compared to the same quarter last year. During the same quarter last year, the business earned $0.84 EPS. On average, equities research analysts predict that Nordstrom, Inc. will post 1.91 earnings per share for the current year.

Nordstrom Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 18th. Shareholders of record on Tuesday, September 3rd were issued a dividend of $0.19 per share. The ex-dividend date was Tuesday, September 3rd. This represents a $0.76 dividend on an annualized basis and a yield of 3.32%. Nordstrom’s dividend payout ratio is presently 44.44%.

Analyst Upgrades and Downgrades

JWN has been the subject of a number of research analyst reports. BMO Capital Markets lifted their target price on Nordstrom from $20.00 to $22.00 and gave the stock a “market perform” rating in a report on Wednesday, August 28th. The Goldman Sachs Group boosted their target price on Nordstrom from $19.00 to $21.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 28th. Barclays upgraded shares of Nordstrom from an “underweight” rating to an “equal weight” rating and lifted their price target for the stock from $18.00 to $23.00 in a research note on Thursday, September 5th. JPMorgan Chase & Co. increased 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. Finally, Bank of America lifted their target price on shares of Nordstrom from $18.00 to $20.00 and gave the stock an “underperform” rating in a research report on Wednesday, August 28th. Three research analysts have rated the stock with a sell rating, ten have given a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $20.33.

Insider Activity

In other news, COO Alexis Depree sold 20,000 shares of Nordstrom stock in a transaction that occurred 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 sale, the chief operating officer now owns 169,331 shares in the company, valued at $3,928,479.20. This trade represents a 10.56 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 5.78% of the company’s stock.

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.