Public Employees Retirement System of Ohio Lowers Stock Holdings in Nordstrom, Inc. (NYSE:JWN)

Public Employees Retirement System of Ohio lessened its holdings in Nordstrom, Inc. (NYSE:JWN) by 4.7% in the third quarter, HoldingsChannel reports. The institutional investor owned 36,328 shares of the specialty retailer’s stock after selling 1,810 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in Nordstrom were worth $817,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of JWN. Venturi Wealth Management LLC boosted its stake in shares of Nordstrom by 355.9% in the third quarter. Venturi Wealth Management LLC now owns 1,272 shares of the specialty retailer’s stock worth $29,000 after acquiring an additional 993 shares during the period. Atlas Capital Advisors LLC boosted 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 worth $32,000 after purchasing an additional 752 shares during the period. Rothschild Investment LLC purchased a new stake in Nordstrom during the 2nd quarter valued at approximately $39,000. Blue Trust Inc. raised its position 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 buying an additional 2,411 shares during the last quarter. Finally, Point72 Hong Kong Ltd purchased a new position in shares of Nordstrom in the second quarter worth $71,000. 88.73% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

JWN has been the subject of several research analyst reports. Bank of America raised their target price on shares of Nordstrom from $20.00 to $22.00 and gave the company an “underperform” rating in a research note on Wednesday, November 27th. UBS Group lifted their target price on Nordstrom from $13.00 to $14.50 and gave the stock a “sell” rating in a report on Wednesday, November 27th. StockNews.com downgraded Nordstrom from a “strong-buy” rating to a “buy” rating in a research report on Thursday, December 5th. KeyCorp cut Nordstrom from an “overweight” rating to a “sector weight” rating in a report on Thursday, September 26th. Finally, TD Cowen increased their target price on Nordstrom from $24.00 to $25.00 and gave the company a “hold” rating in a research report on Wednesday, August 28th. Three investment analysts have rated the stock with a sell rating, ten have given a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, Nordstrom has an average rating of “Hold” and an average target price of $21.29.

Nordstrom Trading Up 5.1 %

JWN opened at $24.06 on Friday. Nordstrom, Inc. has a 52 week low of $16.63 and a 52 week high of $24.99. The company has a market capitalization of $3.97 billion, a P/E ratio of 15.32 and a beta of 2.56. The stock’s fifty day moving average is $23.14 and its two-hundred day moving average is $22.41. 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 (NYSE:JWN) last released its quarterly earnings data 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 return on equity of 18.04% and a negative net margin of 1.57%. The firm had revenue of $3.35 billion during the quarter, compared to the consensus estimate of $3.34 billion. During the same period in the previous year, the company posted $0.25 earnings per share. The firm’s quarterly revenue was up 4.6% on a year-over-year basis. Analysts forecast that Nordstrom, Inc. will post 1.94 earnings per share for the current year.

Nordstrom Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 18th. Stockholders of record on Tuesday, December 3rd were paid a dividend of $0.19 per share. The ex-dividend date of this dividend was Tuesday, December 3rd. This represents a $0.76 dividend on an annualized basis and a dividend yield of 3.16%. Nordstrom’s dividend payout ratio is presently 48.41%.

Insider Buying and Selling at Nordstrom

In related news, COO Alexis Depree sold 20,000 shares of the 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 completion of the sale, the chief operating officer now owns 169,331 shares of the company’s stock, valued at $3,928,479.20. This represents a 10.56 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 5.78% of the stock is owned by insiders.

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.