Nordstrom, Inc. (NYSE:JWN) Shares Sold by BNP Paribas Financial Markets

BNP Paribas Financial Markets lessened its position in shares of Nordstrom, Inc. (NYSE:JWN) by 51.8% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 110,412 shares of the specialty retailer’s stock after selling 118,492 shares during the quarter. BNP Paribas Financial Markets’ holdings in Nordstrom were worth $2,483,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in JWN. Tidal Investments LLC purchased a new stake in Nordstrom in the 1st quarter valued at approximately $419,000. Comerica Bank lifted its position in shares of Nordstrom by 59.9% in the first quarter. Comerica Bank now owns 75,806 shares of the specialty retailer’s stock valued at $1,537,000 after acquiring an additional 28,411 shares in the last quarter. Wedmont Private Capital acquired a new stake in shares of Nordstrom during the second quarter valued at $250,000. Blue Trust Inc. increased its position in Nordstrom by 10,045.8% during the 2nd quarter. Blue Trust Inc. now owns 2,435 shares of the specialty retailer’s stock worth $49,000 after purchasing an additional 2,411 shares in the last quarter. Finally, Raymond James & Associates raised its stake in Nordstrom by 2.0% in the 2nd quarter. Raymond James & Associates now owns 91,157 shares of the specialty retailer’s stock valued at $1,934,000 after purchasing an additional 1,747 shares during the last quarter. 88.73% of the stock is currently owned by hedge funds and other institutional investors.

Nordstrom Trading Down 1.1 %

Shares of JWN stock opened at $23.20 on Friday. The company has a quick ratio of 0.35, a current ratio of 1.14 and a debt-to-equity ratio of 2.65. Nordstrom, Inc. has a fifty-two week low of $15.12 and a fifty-two week high of $24.99. The firm’s 50 day moving average price is $22.92 and its two-hundred day moving average price is $22.31. The stock has a market cap of $3.81 billion, a price-to-earnings ratio of 14.78 and a beta of 2.56.

Nordstrom (NYSE:JWN) last posted its earnings results on Tuesday, November 26th. The specialty retailer reported $0.33 earnings per share for the quarter, beating the consensus estimate of $0.22 by $0.11. Nordstrom had a negative net margin of 1.57% and a negative return on equity of 18.04%. The business had revenue of $3.35 billion for the quarter, compared to analyst estimates of $3.34 billion. During the same quarter in the previous year, the business posted $0.25 EPS. The business’s quarterly revenue was up 4.6% on a year-over-year basis. On average, analysts anticipate that Nordstrom, Inc. will post 1.93 EPS for the current year.

Nordstrom Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Tuesday, December 3rd will be paid a $0.19 dividend. The ex-dividend date is Tuesday, December 3rd. This represents a $0.76 dividend on an annualized basis and a dividend yield of 3.28%. Nordstrom’s dividend payout ratio (DPR) is currently 48.41%.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on JWN. StockNews.com downgraded shares of Nordstrom from a “strong-buy” rating to a “buy” rating in a report on Thursday. TD Cowen boosted their price target on Nordstrom from $24.00 to $25.00 and gave the company a “hold” rating in a report on Wednesday, August 28th. Citigroup raised their price objective on Nordstrom from $22.00 to $23.00 and gave the stock a “neutral” rating in a report on Tuesday, November 19th. Barclays upgraded Nordstrom from an “underweight” rating to an “equal weight” rating and upped their target price for the company from $18.00 to $23.00 in a research note on Thursday, September 5th. Finally, UBS Group raised their price target on Nordstrom from $13.00 to $14.50 and gave the stock a “sell” rating in a research note on Wednesday, November 27th. Three equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $21.29.

Insider Activity at Nordstrom

In other 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 value of $464,000.00. Following the completion of the transaction, the chief operating officer now directly owns 169,331 shares in the company, valued at approximately $3,928,479.20. This represents a 10.56 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 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.