Nordstrom, Inc. (NYSE:JWN) Position Cut by State of Alaska Department of Revenue

State of Alaska Department of Revenue trimmed its stake in Nordstrom, Inc. (NYSE:JWN) by 9.7% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 10,476 shares of the specialty retailer’s stock after selling 1,120 shares during the quarter. State of Alaska Department of Revenue’s holdings in Nordstrom were worth $193,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in JWN. Premier Path Wealth Partners LLC bought a new stake in shares of Nordstrom during the fourth quarter valued at about $1,081,000. Wellington Management Group LLP raised its stake in shares of Nordstrom by 52.9% during the third quarter. Wellington Management Group LLP now owns 363,690 shares of the specialty retailer’s stock valued at $5,434,000 after purchasing an additional 125,877 shares in the last quarter. Victory Capital Management Inc. raised its stake in shares of Nordstrom by 48.7% during the third quarter. Victory Capital Management Inc. now owns 2,312,694 shares of the specialty retailer’s stock valued at $34,552,000 after purchasing an additional 757,000 shares in the last quarter. EP Wealth Advisors LLC raised its stake in shares of Nordstrom by 120.3% during the third quarter. EP Wealth Advisors LLC now owns 12,027 shares of the specialty retailer’s stock valued at $180,000 after purchasing an additional 6,567 shares in the last quarter. Finally, CenterBook Partners LP bought a new stake in shares of Nordstrom during the third quarter valued at about $736,000. 88.73% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on JWN shares. Barclays lifted their price objective on shares of Nordstrom from $14.00 to $15.00 and gave the company an “underweight” rating in a research note on Wednesday, March 6th. JPMorgan Chase & Co. lifted their target price on Nordstrom from $14.00 to $15.00 and gave the stock an “underweight” rating in a report on Wednesday, March 6th. StockNews.com raised Nordstrom from a “hold” rating to a “buy” rating in a report on Thursday, March 14th. The Goldman Sachs Group lifted their target price on Nordstrom from $16.00 to $18.00 and gave the stock a “neutral” rating in a report on Wednesday, March 6th. Finally, Citigroup lowered their target price on Nordstrom from $21.00 to $20.00 and set a “neutral” rating on the stock in a report on Wednesday, March 6th. Five investment analysts have rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, Nordstrom has an average rating of “Hold” and a consensus target price of $16.54.

Nordstrom Trading Down 3.7 %

Shares of NYSE JWN opened at $19.06 on Friday. Nordstrom, Inc. has a one year low of $12.88 and a one year high of $23.53. The firm has a market capitalization of $3.11 billion, a PE ratio of 23.83, a PEG ratio of 2.24 and a beta of 2.59. The company has a current ratio of 1.02, a quick ratio of 0.41 and a debt-to-equity ratio of 3.08. The business has a 50-day moving average price of $19.29 and a two-hundred day moving average price of $17.25.

Nordstrom (NYSE:JWN) last announced its quarterly earnings data on Tuesday, March 5th. The specialty retailer reported $0.96 EPS for the quarter, topping analysts’ consensus estimates of $0.90 by $0.06. Nordstrom had a return on equity of 49.30% and a net margin of 0.91%. The firm had revenue of $4.29 billion during the quarter, compared to analyst estimates of $4.38 billion. During the same period last year, the company posted $0.74 EPS. The business’s quarterly revenue was up 2.2% compared to the same quarter last year. As a group, analysts predict that Nordstrom, Inc. will post 1.81 earnings per share for the current fiscal year.

Nordstrom Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 27th. Shareholders of record on Tuesday, March 12th were given a dividend of $0.19 per share. The ex-dividend date of this dividend was Monday, March 11th. This represents a $0.76 dividend on an annualized basis and a yield of 3.99%. Nordstrom’s payout ratio is presently 95.00%.

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.