Allspring Global Investments Holdings LLC decreased its stake in shares of Nordstrom, Inc. (NYSE:JWN – Free Report) by 34.8% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 15,198 shares of the specialty retailer’s stock after selling 8,123 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Nordstrom were worth $311,000 as of its most recent filing with the SEC.
A number of other hedge funds have also made changes to their positions in the stock. Prudential Financial Inc. increased its holdings in shares of Nordstrom by 3.4% during the 1st quarter. Prudential Financial Inc. now owns 12,666 shares of the specialty retailer’s stock valued at $344,000 after acquiring an additional 415 shares during the last quarter. HighTower Advisors LLC increased its holdings in shares of Nordstrom by 0.8% during the 1st quarter. HighTower Advisors LLC now owns 58,656 shares of the specialty retailer’s stock valued at $1,592,000 after acquiring an additional 494 shares during the last quarter. Guggenheim Capital LLC grew its holdings in Nordstrom by 4.2% in the 1st quarter. Guggenheim Capital LLC now owns 14,001 shares of the specialty retailer’s stock valued at $380,000 after buying an additional 568 shares during the last quarter. Fifth Third Bancorp grew its holdings in Nordstrom by 11.3% in the 1st quarter. Fifth Third Bancorp now owns 6,353 shares of the specialty retailer’s stock valued at $103,000 after buying an additional 646 shares during the last quarter. Finally, First Republic Investment Management Inc. grew its holdings in Nordstrom by 2.1% in the 1st quarter. First Republic Investment Management Inc. now owns 33,586 shares of the specialty retailer’s stock valued at $546,000 after buying an additional 704 shares during the last quarter. Institutional investors and hedge funds own 62.56% of the company’s stock.
Analysts Set New Price Targets
JWN has been the topic of a number of research analyst reports. JPMorgan Chase & Co. lowered their target price on Nordstrom from $21.00 to $20.00 in a report on Sunday, August 27th. Bank of America lowered their target price on Nordstrom from $14.00 to $13.00 and set an “underperform” rating on the stock in a report on Tuesday, September 26th. KeyCorp lowered their target price on Nordstrom from $22.00 to $19.00 and set an “overweight” rating on the stock in a report on Wednesday, October 25th. StockNews.com started coverage on Nordstrom in a research report on Thursday, October 5th. They issued a “buy” rating for the company. Finally, TheStreet upgraded Nordstrom from a “d+” rating to a “c+” rating in a research report on Thursday, August 24th. Five analysts have rated the stock with a sell rating, eight have given a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $17.75.
Insider Buying and Selling at Nordstrom
In other news, insider Gemma Lionello sold 32,916 shares of Nordstrom stock in a transaction on Thursday, October 5th. The stock was sold at an average price of $14.36, for a total value of $472,673.76. Following the completion of the sale, the insider now directly owns 39,973 shares of the company’s stock, valued at approximately $574,012.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 5.90% of the company’s stock.
Nordstrom Trading Up 0.4 %
Shares of JWN opened at $13.52 on Friday. The stock has a fifty day moving average price of $14.33 and a two-hundred day moving average price of $17.01. The company has a debt-to-equity ratio of 3.87, a quick ratio of 0.43 and a current ratio of 0.99. Nordstrom, Inc. has a 52-week low of $13.09 and a 52-week high of $27.15. The company has a market cap of $2.19 billion, a price-to-earnings ratio of 75.11, a PEG ratio of 0.83 and a beta of 2.43.
Nordstrom (NYSE:JWN – Get Free Report) last issued its quarterly earnings data on Thursday, August 24th. The specialty retailer reported $0.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.45 by $0.39. Nordstrom had a return on equity of 46.55% and a net margin of 0.21%. The firm had revenue of $3.77 billion during the quarter, compared to the consensus estimate of $3.68 billion. During the same quarter in the previous year, the company posted $0.81 EPS. The business’s revenue for the quarter was down 7.9% compared to the same quarter last year. Analysts predict that Nordstrom, Inc. will post 2.02 EPS for the current fiscal year.
Nordstrom Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 13th. Shareholders of record on Tuesday, August 29th were given a $0.19 dividend. The ex-dividend date was Monday, August 28th. This represents a $0.76 annualized dividend and a yield of 5.62%. Nordstrom’s payout ratio is 422.22%.
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; and clearance stores under the Last Chance name.
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