Stifel Financial Corp Sells 35,711 Shares of Nordstrom, Inc. (NYSE:JWN)

Stifel Financial Corp cut its holdings in Nordstrom, Inc. (NYSE:JWN) by 16.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 181,210 shares of the specialty retailer’s stock after selling 35,711 shares during the period. Stifel Financial Corp owned approximately 0.11% of Nordstrom worth $4,075,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of JWN. Quantinno Capital Management LP increased its stake in Nordstrom by 49.3% in the 3rd quarter. Quantinno Capital Management LP now owns 145,146 shares of the specialty retailer’s stock worth $3,264,000 after purchasing an additional 47,923 shares during the period. Point72 DIFC Ltd boosted its position in Nordstrom by 17.4% during the 3rd quarter. Point72 DIFC Ltd now owns 64,960 shares of the specialty retailer’s stock valued at $1,461,000 after buying an additional 9,613 shares during the period. Point72 Asset Management L.P. grew its holdings in Nordstrom by 190.1% in the 3rd quarter. Point72 Asset Management L.P. now owns 59,678 shares of the specialty retailer’s stock worth $1,342,000 after acquiring an additional 39,104 shares during the last quarter. Hotchkis & Wiley Capital Management LLC bought a new stake in shares of Nordstrom in the third quarter worth about $6,171,000. Finally, Maverick Capital Ltd. increased its holdings in Nordstrom by 45.8% during the 3rd quarter. Maverick Capital Ltd. now owns 173,262 shares of the specialty retailer’s stock valued at $3,897,000 after purchasing an additional 54,428 shares during the period. 88.73% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

JWN has been the topic of a number of recent analyst reports. StockNews.com lowered Nordstrom from a “strong-buy” rating to a “buy” rating in a research report on Thursday, December 5th. BMO Capital Markets lifted their price objective on Nordstrom from $20.00 to $22.00 and gave the company a “market perform” rating in a research report on Wednesday, August 28th. Bank of America raised their target price on Nordstrom from $20.00 to $22.00 and gave the company an “underperform” rating in a research note on Wednesday, November 27th. UBS Group upped their target price on shares of Nordstrom from $13.00 to $14.50 and gave the stock a “sell” rating in a research report on Wednesday, November 27th. Finally, Evercore ISI upped their price objective on shares of Nordstrom from $20.00 to $22.00 and gave the stock an “in-line” rating in a report on Wednesday, November 27th. Three equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, Nordstrom presently has an average rating of “Hold” and an average target price of $21.29.

Insider Activity

In other Nordstrom news, COO Alexis Depree sold 20,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 24th. The shares were sold at an average price of $23.20, for a total transaction of $464,000.00. Following the sale, the chief operating officer now owns 169,331 shares in the company, valued at approximately $3,928,479.20. This trade represents a 10.56 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 5.78% of the company’s stock.

Nordstrom Price Performance

Shares of JWN opened at $23.18 on Monday. The firm has a market cap of $3.82 billion, a PE ratio of 14.76 and a beta of 2.56. Nordstrom, Inc. has a 1-year low of $16.63 and a 1-year high of $24.99. The company has a current ratio of 1.14, a quick ratio of 0.35 and a debt-to-equity ratio of 2.65. The firm has a fifty day simple moving average of $23.03 and a two-hundred day simple moving average of $22.37.

Nordstrom (NYSE:JWN) last posted its earnings results on Tuesday, November 26th. The specialty retailer reported $0.33 earnings per share for the quarter, beating analysts’ consensus estimates of $0.22 by $0.11. The company had revenue of $3.35 billion for the quarter, compared to the consensus estimate of $3.34 billion. Nordstrom had a negative return on equity of 18.04% and a negative net margin of 1.57%. Nordstrom’s revenue was up 4.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.25 earnings per share. On average, equities analysts anticipate that Nordstrom, Inc. will post 1.94 EPS for the current year.

Nordstrom Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Tuesday, December 3rd will be given a $0.19 dividend. The ex-dividend date of this dividend is Tuesday, December 3rd. This represents a $0.76 annualized dividend and a yield of 3.28%. Nordstrom’s payout ratio is presently 48.41%.

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.