State Board of Administration of Florida Retirement System Sells 7,432 Shares of Nordstrom, Inc. (NYSE:JWN)

State Board of Administration of Florida Retirement System lessened its stake in Nordstrom, Inc. (NYSE:JWNGet Rating) by 5.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 129,717 shares of the specialty retailer’s stock after selling 7,432 shares during the period. State Board of Administration of Florida Retirement System owned about 0.08% of Nordstrom worth $2,741,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. lifted its stake in shares of Nordstrom by 1.6% in the first quarter. Vanguard Group Inc. now owns 10,276,748 shares of the specialty retailer’s stock valued at $278,603,000 after buying an additional 160,514 shares during the period. State Street Corp lifted its stake in Nordstrom by 5.5% during the first quarter. State Street Corp now owns 4,552,284 shares of the specialty retailer’s stock worth $124,245,000 after purchasing an additional 239,120 shares during the period. Renaissance Technologies LLC lifted its stake in Nordstrom by 240.8% during the first quarter. Renaissance Technologies LLC now owns 1,988,500 shares of the specialty retailer’s stock worth $53,908,000 after purchasing an additional 1,405,000 shares during the period. Disciplined Growth Investors Inc. MN lifted its stake in Nordstrom by 1.4% during the first quarter. Disciplined Growth Investors Inc. MN now owns 1,609,386 shares of the specialty retailer’s stock worth $43,630,000 after purchasing an additional 21,510 shares during the period. Finally, GW&K Investment Management LLC lifted its stake in Nordstrom by 7.3% during the first quarter. GW&K Investment Management LLC now owns 1,065,687 shares of the specialty retailer’s stock worth $28,891,000 after purchasing an additional 72,373 shares during the period. Institutional investors own 59.36% of the company’s stock.

Analyst Ratings Changes

JWN has been the subject of a number of analyst reports. StockNews.com initiated coverage on shares of Nordstrom in a research note on Wednesday, October 12th. They set a “hold” rating for the company. Telsey Advisory Group cut their price target on shares of Nordstrom from $28.00 to $25.00 and set a “market perform” rating for the company in a research note on Wednesday, August 24th. Piper Sandler cut their price target on shares of Nordstrom from $28.00 to $26.00 and set an “overweight” rating for the company in a research note on Wednesday, August 24th. Jefferies Financial Group raised shares of Nordstrom from a “hold” rating to a “buy” rating and raised their price objective for the stock from $21.00 to $24.00 in a report on Thursday, September 15th. Finally, KeyCorp assumed coverage on shares of Nordstrom in a report on Wednesday, July 20th. They set an “overweight” rating and a $30.00 price objective for the company. Four research analysts have rated the stock with a sell rating, ten have given a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $24.38.

Nordstrom Price Performance

JWN opened at $21.67 on Wednesday. The company has a fifty day moving average price of $19.24 and a two-hundred day moving average price of $21.72. The company has a debt-to-equity ratio of 4.30, a quick ratio of 0.34 and a current ratio of 1.01. Nordstrom, Inc. has a 52 week low of $16.14 and a 52 week high of $36.43. The firm has a market capitalization of $3.45 billion, a PE ratio of 8.60, a P/E/G ratio of 1.55 and a beta of 2.17.

Nordstrom (NYSE:JWNGet Rating) last announced its quarterly earnings results on Tuesday, August 23rd. The specialty retailer reported $0.81 earnings per share for the quarter, topping analysts’ consensus estimates of $0.80 by $0.01. The company had revenue of $4.10 billion for the quarter, compared to analysts’ expectations of $3.97 billion. Nordstrom had a net margin of 2.60% and a return on equity of 70.36%. During the same period last year, the firm posted $0.49 earnings per share. As a group, analysts anticipate that Nordstrom, Inc. will post 2.33 earnings per share for the current year.

About Nordstrom

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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; TrunkClub.com; Nordstrom.ca; Nordstrom stores; Nordstrom Rack stores; Nordstrom Locals; Nordstromrack.com and HauteLook; clearance stores under the Last Chance name; Trunk Club clubhouses; and Jeffrey boutiques.

Further Reading

Institutional Ownership by Quarter for Nordstrom (NYSE:JWN)

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