Raymond James & Associates Sells 64,095 Shares of Nordstrom, Inc. (NYSE:JWN)

Raymond James & Associates decreased its position in shares of Nordstrom, Inc. (NYSE:JWNGet Rating) by 37.0% in the 3rd quarter, Holdings Channel reports. The firm owned 109,348 shares of the specialty retailer’s stock after selling 64,095 shares during the quarter. Raymond James & Associates’ holdings in Nordstrom were worth $1,829,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Renaissance Technologies LLC lifted its stake in shares of Nordstrom by 240.8% in the 1st quarter. Renaissance Technologies LLC now owns 1,988,500 shares of the specialty retailer’s stock valued at $53,908,000 after purchasing an additional 1,405,000 shares during the period. Bank of America Corp DE boosted its holdings in shares of Nordstrom by 204.5% during the 1st quarter. Bank of America Corp DE now owns 772,038 shares of the specialty retailer’s stock worth $20,930,000 after buying an additional 518,510 shares in the last quarter. Trexquant Investment LP bought a new stake in shares of Nordstrom in the 2nd quarter valued at $7,400,000. International Assets Investment Management LLC acquired a new position in shares of Nordstrom during the 2nd quarter valued at $202,000. Finally, State Street Corp boosted 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 acquiring an additional 239,120 shares in the last quarter. Institutional investors and hedge funds own 66.41% of the company’s stock.

Analysts Set New Price Targets

JWN has been the subject of several research analyst reports. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Nordstrom from $21.00 to $17.00 in a research note on Friday, January 20th. StockNews.com downgraded Nordstrom from a “buy” rating to a “hold” rating in a research note on Monday, December 12th. KeyCorp reduced their price objective on Nordstrom from $30.00 to $22.00 and set an “overweight” rating for the company in a research note on Friday, January 20th. JPMorgan Chase & Co. lowered their target price on Nordstrom from $15.00 to $13.00 and set an “underweight” rating on the stock in a research report on Friday, January 20th. Finally, Gordon Haskett downgraded shares of Nordstrom from a “hold” rating to a “reduce” rating and reduced their price target for the company from $20.00 to $13.00 in a research report on Friday, January 20th. Five equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $18.63.

Nordstrom Trading Down 2.3 %

Shares of JWN stock opened at $18.30 on Wednesday. The company has a debt-to-equity ratio of 4.71, a quick ratio of 0.24 and a current ratio of 0.99. The company has a market capitalization of $2.93 billion, a price-to-earnings ratio of 9.15, a PEG ratio of 0.62 and a beta of 2.17. Nordstrom, Inc. has a 52-week low of $15.52 and a 52-week high of $29.59. The company has a 50-day simple moving average of $18.17 and a two-hundred day simple moving average of $19.63.

Nordstrom (NYSE:JWNGet Rating) last announced its earnings results on Tuesday, November 22nd. The specialty retailer reported $0.20 earnings per share for the quarter, topping 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 return on equity of 58.09% and a net margin of 2.08%. The company’s revenue was down 3.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.39 EPS. Research analysts anticipate that Nordstrom, Inc. will post 1.6 EPS for the current fiscal year.

Nordstrom Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 14th. Stockholders of record on Tuesday, November 29th were paid a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 4.15%. The ex-dividend date of this dividend was Monday, November 28th. Nordstrom’s payout ratio is 38.00%.

Nordstrom Profile

(Get Rating)

Nordstrom, Inc engages in the manufacture and trade of clothes, shoes, and accessories. It operates through the following segments: Retail and Corporate/Other. The Retail segment consists of a selection of high-quality, brand-name, and private label merchandise, which includes apparel, shoes, cosmetics, and accessories for women, men, young adults, and children.

Further Reading

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Institutional Ownership by Quarter for Nordstrom (NYSE:JWN)

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