US Bancorp DE Sells 4,843 Shares of Nordstrom, Inc. (NYSE:JWN)

US Bancorp DE cut its stake in Nordstrom, Inc. (NYSE:JWNGet Rating) by 5.2% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 88,121 shares of the specialty retailer’s stock after selling 4,843 shares during the quarter. US Bancorp DE owned about 0.06% of Nordstrom worth $1,474,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Sandy Spring Bank raised its holdings in Nordstrom by 500.0% in the 2nd quarter. Sandy Spring Bank now owns 1,200 shares of the specialty retailer’s stock worth $25,000 after purchasing an additional 1,000 shares in the last quarter. Charter Oak Capital Management LLC purchased a new stake in shares of Nordstrom in the 2nd quarter worth about $34,000. Bartlett & Co. LLC grew its position in shares of Nordstrom by 200.0% in the 2nd quarter. Bartlett & Co. LLC now owns 1,950 shares of the specialty retailer’s stock worth $41,000 after buying an additional 1,300 shares during the period. Clear Street Markets LLC purchased a new stake in shares of Nordstrom in the 2nd quarter worth about $49,000. Finally, Captrust Financial Advisors grew its position in shares of Nordstrom by 44.9% in the 2nd quarter. Captrust Financial Advisors now owns 2,738 shares of the specialty retailer’s stock worth $58,000 after buying an additional 849 shares during the period. 66.41% of the stock is currently owned by institutional investors.

Nordstrom Stock Performance

Shares of NYSE JWN opened at $17.77 on Wednesday. The firm’s 50-day moving average price is $18.46 and its 200-day moving average price is $19.73. The company has a quick ratio of 0.24, a current ratio of 0.99 and a debt-to-equity ratio of 4.71. The company has a market cap of $2.84 billion, a PE ratio of 8.89, a PEG ratio of 0.42 and a beta of 2.17. Nordstrom, Inc. has a 52-week low of $15.52 and a 52-week high of $29.59.

Nordstrom (NYSE:JWNGet Rating) last announced its quarterly earnings results on Tuesday, November 22nd. The specialty retailer reported $0.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.14 by $0.06. The firm had revenue of $3.50 billion for the quarter, compared to the consensus estimate of $3.49 billion. Nordstrom had a net margin of 2.08% and a return on equity of 58.09%. The business’s quarterly revenue was down 3.8% compared to the same quarter last year. During the same quarter last year, the firm posted $0.39 EPS. As a group, analysts anticipate that Nordstrom, Inc. will post 2.4 EPS for the current year.

Nordstrom Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 14th. Stockholders of record on Tuesday, November 29th were paid a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 4.28%. The ex-dividend date of this dividend was Monday, November 28th. Nordstrom’s dividend payout ratio (DPR) is presently 38.00%.

Analyst Ratings Changes

A number of research firms have recently weighed in on JWN. StockNews.com downgraded shares of Nordstrom from a “buy” rating to a “hold” rating in a research report on Monday, December 12th. JPMorgan Chase & Co. reduced their target price on shares of Nordstrom from $16.00 to $15.00 in a research report on Tuesday, January 3rd. Piper Sandler downgraded shares of Nordstrom from an “overweight” rating to a “neutral” rating and reduced their target price for the stock from $26.00 to $20.00 in a research report on Thursday, January 5th. Credit Suisse Group reduced their target price on shares of Nordstrom from $21.00 to $20.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 23rd. Finally, Deutsche Bank Aktiengesellschaft cut their price objective on shares of Nordstrom from $23.00 to $22.00 and set a “hold” rating on the stock in a research report on Monday, November 14th. Four investment analysts have rated the stock with a sell rating, nine have given a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, Nordstrom presently has an average rating of “Hold” and an average price target of $22.07.

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.

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Institutional Ownership by Quarter for Nordstrom (NYSE:JWN)

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