Nordstrom, Inc. (NYSE:JWN) Shares Sold by LSV Asset Management

LSV Asset Management reduced its position in Nordstrom, Inc. (NYSE:JWN) by 1.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,521,896 shares of the specialty retailer’s stock after selling 22,600 shares during the period. LSV Asset Management owned approximately 0.93% of Nordstrom worth $30,849,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Graham Capital Management L.P. purchased a new stake in shares of Nordstrom during the 3rd quarter valued at about $501,000. EP Wealth Advisors LLC raised its holdings in shares of Nordstrom by 120.3% during the 3rd quarter. EP Wealth Advisors LLC now owns 12,027 shares of the specialty retailer’s stock valued at $180,000 after buying an additional 6,567 shares during the period. Wellington Management Group LLP raised its holdings in shares of Nordstrom by 52.9% during the 3rd quarter. Wellington Management Group LLP now owns 363,690 shares of the specialty retailer’s stock valued at $5,434,000 after buying an additional 125,877 shares during the period. Teachers Retirement System of The State of Kentucky raised its holdings in shares of Nordstrom by 20.6% during the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 109,044 shares of the specialty retailer’s stock valued at $1,629,000 after buying an additional 18,648 shares during the period. Finally, Rowlandmiller & PARTNERS.ADV purchased a new stake in shares of Nordstrom during the 4th quarter valued at about $119,000. 88.73% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. Telsey Advisory Group lifted their price objective on Nordstrom from $19.00 to $23.00 and gave the stock a “market perform” rating in a report on Tuesday. Barclays boosted their price target on Nordstrom from $15.00 to $18.00 and gave the stock an “underweight” rating in a research report on Friday, May 31st. StockNews.com upgraded Nordstrom from a “hold” rating to a “buy” rating in a research report on Wednesday, July 3rd. JPMorgan Chase & Co. boosted their price target on Nordstrom from $15.00 to $17.00 and gave the stock an “underweight” rating in a research report on Friday, May 17th. Finally, Bank of America boosted their price target on Nordstrom from $15.00 to $18.00 and gave the stock an “underperform” rating in a research report on Friday, May 31st. Five investment analysts have rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, Nordstrom has an average rating of “Hold” and a consensus price target of $17.75.

Nordstrom Trading Up 0.3 %

Shares of Nordstrom stock traded up $0.08 on Friday, reaching $23.47. 2,558,974 shares of the company were exchanged, compared to its average volume of 3,636,023. The stock has a fifty day moving average price of $21.38 and a 200-day moving average price of $19.79. The firm has a market capitalization of $3.84 billion, a price-to-earnings ratio of 12.96, a price-to-earnings-growth ratio of 2.51 and a beta of 2.62. The company has a current ratio of 1.03, a quick ratio of 0.36 and a debt-to-equity ratio of 3.13. Nordstrom, Inc. has a fifty-two week low of $12.88 and a fifty-two week high of $23.74.

Nordstrom (NYSE:JWN) last announced its earnings results on Thursday, May 30th. The specialty retailer reported ($0.24) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.16). The company had revenue of $3.34 billion for the quarter, compared to analyst estimates of $3.19 billion. Nordstrom had a negative return on equity of 26.45% and a negative net margin of 1.35%. The firm’s revenue for the quarter was up 4.8% on a year-over-year basis. During the same period last year, the firm earned $0.07 earnings per share. On average, analysts expect that Nordstrom, Inc. will post 1.79 EPS for the current year.

Nordstrom Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 19th. Investors of record on Tuesday, June 4th were given a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 3.24%. The ex-dividend date was Tuesday, June 4th. Nordstrom’s payout ratio is 41.53%.

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.