Federated Hermes Inc. Sells 11,204 Shares of Nordstrom, Inc. (NYSE:JWN)

Federated Hermes Inc. trimmed its stake in shares of Nordstrom, Inc. (NYSE:JWN) by 3.9% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 277,369 shares of the specialty retailer’s stock after selling 11,204 shares during the period. Federated Hermes Inc.’s holdings in Nordstrom were worth $5,117,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. DekaBank Deutsche Girozentrale bought a new stake in Nordstrom in the 3rd quarter worth approximately $45,000. Rowlandmiller & PARTNERS.ADV purchased a new position in shares of Nordstrom in the 4th quarter worth $119,000. Gallacher Capital Management LLC purchased a new position in shares of Nordstrom in the 3rd quarter worth $166,000. AE Wealth Management LLC bought a new stake in shares of Nordstrom in the third quarter worth $168,000. Finally, EP Wealth Advisors LLC increased its position in 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 acquiring an additional 6,567 shares during the last quarter. Institutional investors own 88.73% of the company’s stock.

Nordstrom Stock Performance

Shares of NYSE JWN opened at $19.00 on Friday. The stock has a market cap of $3.10 billion, a PE ratio of 23.75, a price-to-earnings-growth ratio of 2.18 and a beta of 2.59. Nordstrom, Inc. has a 1 year low of $12.88 and a 1 year high of $23.53. The firm has a fifty day moving average price of $19.20 and a 200-day moving average price of $17.49. 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 (NYSE:JWN) last released its quarterly earnings data on Tuesday, March 5th. The specialty retailer reported $0.96 earnings per share for the quarter, topping analysts’ consensus estimates of $0.90 by $0.06. The firm had revenue of $4.29 billion during the quarter, compared to analyst estimates 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 quarter in the prior year, the company posted $0.74 earnings per share. Equities analysts anticipate that Nordstrom, Inc. will post 1.81 earnings per share for the current fiscal year.

Nordstrom Dividend Announcement

The business 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. This represents a $0.76 annualized dividend and a dividend yield of 4.00%. The ex-dividend date of this dividend was Monday, March 11th. Nordstrom’s payout ratio is currently 95.00%.

Wall Street Analyst Weigh In

Several brokerages have issued reports on JWN. StockNews.com raised Nordstrom from a “hold” rating to a “buy” rating in a research report on Thursday, March 14th. Telsey Advisory Group reiterated a “market perform” rating and issued a $19.00 price objective on shares of Nordstrom in a research note on Friday, April 19th. Piper Sandler boosted their target price on shares of Nordstrom from $17.00 to $20.00 and gave the company a “neutral” rating in a research report on Wednesday, March 6th. Barclays upped their target price on shares of Nordstrom from $14.00 to $15.00 and gave the company an “underweight” rating in a report on Wednesday, March 6th. Finally, The Goldman Sachs Group lifted their price target on shares of Nordstrom from $16.00 to $18.00 and gave the stock a “neutral” rating in a research note on Wednesday, March 6th. Five equities research analysts have rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $16.54.

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.