Nordstrom, Inc. (NYSE:JWN) Shares Sold by New York State Teachers Retirement System

New York State Teachers Retirement System lowered its holdings in Nordstrom, Inc. (NYSE:JWN) by 13.5% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 111,735 shares of the specialty retailer’s stock after selling 17,500 shares during the quarter. New York State Teachers Retirement System’s holdings in Nordstrom were worth $2,062,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its position in Nordstrom by 1.3% in the third quarter. Vanguard Group Inc. now owns 10,459,699 shares of the specialty retailer’s stock valued at $174,992,000 after purchasing an additional 131,102 shares during the period. BlackRock Inc. raised its holdings in shares of Nordstrom by 1.8% in the 2nd quarter. BlackRock Inc. now owns 10,184,495 shares of the specialty retailer’s stock valued at $208,477,000 after buying an additional 182,466 shares during the period. State Street Corp raised its holdings in shares of Nordstrom by 70.0% in the 2nd quarter. State Street Corp now owns 8,640,239 shares of the specialty retailer’s stock valued at $176,866,000 after buying an additional 3,556,576 shares during the period. Cooper Creek Partners Management LLC raised its holdings in shares of Nordstrom by 42.4% in the 3rd quarter. Cooper Creek Partners Management LLC now owns 3,908,377 shares of the specialty retailer’s stock valued at $58,391,000 after buying an additional 1,163,437 shares during the period. Finally, Victory Capital Management Inc. raised its holdings in shares of Nordstrom by 48.7% in the 3rd quarter. Victory Capital Management Inc. now owns 2,312,694 shares of the specialty retailer’s stock valued at $34,552,000 after buying an additional 757,000 shares during the period. Hedge funds and other institutional investors own 88.73% of the company’s stock.

Analyst Ratings Changes

Several research firms recently issued reports on JWN. Bank of America boosted their price objective on Nordstrom from $13.00 to $15.00 and gave the company an “underperform” rating in a report on Wednesday, March 6th. Telsey Advisory Group boosted their price objective on Nordstrom from $17.00 to $19.00 and gave the company a “market perform” rating in a report on Wednesday, March 6th. Jefferies Financial Group reiterated a “hold” rating and issued a $17.00 price objective (down previously from $18.00) on shares of Nordstrom in a report on Thursday, March 7th. Piper Sandler boosted their price objective on Nordstrom from $17.00 to $20.00 and gave the company a “neutral” rating in a report on Wednesday, March 6th. Finally, StockNews.com upgraded Nordstrom from a “hold” rating to a “buy” rating in a report on Thursday, March 14th. Five equities research analysts have rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $16.54.

Nordstrom Price Performance

Shares of NYSE JWN opened at $17.72 on Wednesday. The stock’s 50-day moving average is $19.26 and its two-hundred day moving average is $17.31. The company has a debt-to-equity ratio of 3.08, a current ratio of 1.02 and a quick ratio of 0.41. Nordstrom, Inc. has a 1-year low of $12.88 and a 1-year high of $23.53. The company has a market cap of $2.89 billion, a price-to-earnings ratio of 22.14, a price-to-earnings-growth ratio of 2.16 and a beta of 2.59.

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

Nordstrom Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 27th. Stockholders 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 annualized dividend and a dividend yield of 4.29%. Nordstrom’s dividend payout ratio is currently 95.00%.

Nordstrom Company Profile

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.