US Bancorp DE Cuts Stock Position in Nordstrom, Inc. (NYSE:JWN)

US Bancorp DE lowered its holdings in Nordstrom, Inc. (NYSE:JWN) by 4.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 58,461 shares of the specialty retailer’s stock after selling 2,476 shares during the period. US Bancorp DE’s holdings in Nordstrom were worth $1,315,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of JWN. Allspring Global Investments Holdings LLC raised its stake in shares of Nordstrom by 26.9% in the first quarter. Allspring Global Investments Holdings LLC now owns 6,824 shares of the specialty retailer’s stock valued at $138,000 after buying an additional 1,448 shares during the period. Texas Permanent School Fund Corp raised its stake in shares of Nordstrom by 1.9% in the first quarter. Texas Permanent School Fund Corp now owns 85,041 shares of the specialty retailer’s stock valued at $1,724,000 after buying an additional 1,625 shares during the period. SG Americas Securities LLC bought a new stake in shares of Nordstrom in the first quarter valued at $1,412,000. Swiss National Bank raised its stake in shares of Nordstrom by 0.5% in the first quarter. Swiss National Bank now owns 208,200 shares of the specialty retailer’s stock valued at $4,220,000 after buying an additional 1,100 shares during the period. Finally, State Board of Administration of Florida Retirement System raised its stake in shares of Nordstrom by 2.9% in the first quarter. State Board of Administration of Florida Retirement System now owns 128,937 shares of the specialty retailer’s stock valued at $2,614,000 after buying an additional 3,686 shares during the period. Hedge funds and other institutional investors own 88.73% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Telsey Advisory Group boosted their target price on Nordstrom from $23.00 to $24.00 and gave the company a “market perform” rating in a research note on Wednesday, August 28th. The Goldman Sachs Group boosted their price objective on Nordstrom from $19.00 to $21.00 and gave the company a “neutral” rating in a research note on Wednesday, August 28th. JPMorgan Chase & Co. boosted their price objective on Nordstrom from $19.00 to $20.00 and gave the company an “underweight” rating in a research note on Wednesday, August 28th. Barclays upgraded Nordstrom from an “underweight” rating to an “equal weight” rating and boosted their price objective for the company from $18.00 to $23.00 in a research note on Thursday, September 5th. Finally, Bank of America boosted their price objective on Nordstrom from $18.00 to $20.00 and gave the company an “underperform” rating in a research note on Wednesday, August 28th. Three analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $20.33.

Insider Transactions at Nordstrom

In related news, COO Alexis Depree sold 20,000 shares of the stock in a transaction dated Tuesday, September 24th. The stock was sold at an average price of $23.20, for a total transaction of $464,000.00. Following the completion of the sale, the chief operating officer now directly owns 169,331 shares in the company, valued at $3,928,479.20. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 5.78% of the company’s stock.

Nordstrom Price Performance

Nordstrom stock opened at $22.91 on Friday. The business has a 50-day simple moving average of $22.71 and a 200 day simple moving average of $21.88. Nordstrom, Inc. has a 52 week low of $12.88 and a 52 week high of $24.93. The company has a quick ratio of 0.41, a current ratio of 1.07 and a debt-to-equity ratio of 2.76. The stock has a market cap of $3.76 billion, a price-to-earnings ratio of 13.40 and a beta of 2.59.

Nordstrom (NYSE:JWN) last posted its quarterly earnings data on Tuesday, August 27th. The specialty retailer reported $0.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.71 by $0.25. Nordstrom had a negative return on equity of 21.26% and a negative net margin of 1.44%. The firm had revenue of $3.89 billion during the quarter, compared to analysts’ expectations of $3.88 billion. During the same period in the prior year, the business earned $0.84 EPS. The company’s revenue for the quarter was up 3.2% compared to the same quarter last year. On average, research analysts forecast that Nordstrom, Inc. will post 1.89 earnings per share for the current fiscal year.

Nordstrom Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 18th. Stockholders of record on Tuesday, September 3rd were issued a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 3.32%. The ex-dividend date of this dividend was Tuesday, September 3rd. Nordstrom’s payout ratio is currently 44.44%.

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.