Allspring Global Investments Holdings LLC Decreases Stake in Nordstrom, Inc. (NYSE:JWN)

Allspring Global Investments Holdings LLC lessened its holdings in shares of Nordstrom, Inc. (NYSE:JWN) by 70.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 5,376 shares of the specialty retailer’s stock after selling 12,921 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Nordstrom were worth $99,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of JWN. DekaBank Deutsche Girozentrale purchased a new stake in shares of Nordstrom during the 3rd quarter worth approximately $45,000. Rowlandmiller & PARTNERS.ADV purchased a new stake in shares of Nordstrom during the fourth quarter worth about $119,000. Gallacher Capital Management LLC acquired a new position in shares of Nordstrom in the third quarter valued at approximately $166,000. AE Wealth Management LLC purchased a new position in shares of Nordstrom during the third quarter valued at approximately $168,000. Finally, EP Wealth Advisors LLC boosted 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 worth $180,000 after acquiring an additional 6,567 shares during the last quarter. Hedge funds and other institutional investors own 88.73% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on JWN shares. Piper Sandler increased their price target on Nordstrom from $17.00 to $20.00 and gave the stock a “neutral” rating in a research note on Wednesday, March 6th. StockNews.com raised Nordstrom from a “hold” rating to a “buy” rating in a research note on Thursday, March 14th. Bank of America upped their price objective on shares of Nordstrom from $13.00 to $15.00 and gave the company an “underperform” rating in a research note on Wednesday, March 6th. Telsey Advisory Group reaffirmed a “market perform” rating and set a $19.00 price target on shares of Nordstrom in a research report on Friday, April 19th. Finally, Jefferies Financial Group reiterated a “hold” rating and issued a $17.00 target price (down previously from $18.00) on shares of Nordstrom in a report on Thursday, March 7th. 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, the company has a consensus rating of “Hold” and a consensus price target of $16.54.

Nordstrom Stock Up 1.6 %

Shares of NYSE:JWN opened at $19.43 on Tuesday. The company has a market capitalization of $3.17 billion, a price-to-earnings ratio of 24.29, a price-to-earnings-growth ratio of 2.17 and a beta of 2.59. The company has a 50 day moving average of $19.16 and a two-hundred day moving average of $17.60. Nordstrom, Inc. has a 52-week low of $12.88 and a 52-week high of $23.53. The company has a quick ratio of 0.41, a current ratio of 1.02 and a debt-to-equity ratio of 3.08.

Nordstrom (NYSE:JWN) last released its quarterly earnings results 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 firm had revenue of $4.29 billion for the quarter, compared to the consensus estimate of $4.38 billion. Nordstrom had a net margin of 0.91% and a return on equity of 49.30%. The firm’s quarterly revenue was up 2.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.74 EPS. As a group, analysts forecast that Nordstrom, Inc. will post 1.81 earnings per share for the current fiscal year.

Nordstrom Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 27th. Investors of record on Tuesday, March 12th were issued a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 3.91%. The ex-dividend date of this dividend was Monday, March 11th. Nordstrom’s dividend payout ratio is currently 95.00%.

Nordstrom 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.