Nordstrom, Inc. (NYSE:JWN) Shares Sold by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System reduced its position in shares of Nordstrom, Inc. (NYSE:JWN) by 3.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 26,800 shares of the specialty retailer’s stock after selling 900 shares during the period. Louisiana State Employees Retirement System’s holdings in Nordstrom were worth $603,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC increased its stake in Nordstrom by 26.9% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 6,824 shares of the specialty retailer’s stock worth $138,000 after purchasing an additional 1,448 shares in the last quarter. Texas Permanent School Fund Corp increased its stake in Nordstrom by 1.9% in the 1st quarter. Texas Permanent School Fund Corp now owns 85,041 shares of the specialty retailer’s stock worth $1,724,000 after purchasing an additional 1,625 shares in the last quarter. SG Americas Securities LLC purchased a new position in Nordstrom in the 1st quarter worth about $1,412,000. Swiss National Bank increased its stake in Nordstrom by 0.5% in the 1st quarter. Swiss National Bank now owns 208,200 shares of the specialty retailer’s stock worth $4,220,000 after purchasing an additional 1,100 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System increased its stake in Nordstrom by 2.9% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 128,937 shares of the specialty retailer’s stock worth $2,614,000 after purchasing an additional 3,686 shares in the last quarter. 88.73% of the stock is owned by institutional investors and hedge funds.

Nordstrom Stock Down 0.9 %

Shares of Nordstrom stock opened at $22.71 on Wednesday. The stock has a 50-day simple moving average of $22.68 and a 200-day simple moving average of $21.87. Nordstrom, Inc. has a 52-week low of $12.88 and a 52-week high of $24.93. The company has a debt-to-equity ratio of 2.76, a current ratio of 1.07 and a quick ratio of 0.41. The firm has a market cap of $3.73 billion, a price-to-earnings ratio of 13.28 and a beta of 2.59.

Nordstrom (NYSE:JWN) last posted its earnings results on Tuesday, August 27th. The specialty retailer reported $0.96 earnings per share for the quarter, topping the consensus estimate 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 analyst estimates of $3.88 billion. During the same period in the previous year, the company earned $0.84 EPS. The company’s revenue for the quarter was up 3.2% on a year-over-year basis. On average, equities research analysts expect that Nordstrom, Inc. will post 1.89 earnings per share for the current fiscal year.

Nordstrom Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 18th. Investors of record on Tuesday, September 3rd were issued a $0.19 dividend. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $0.76 annualized dividend and a yield of 3.35%. Nordstrom’s dividend payout ratio (DPR) is currently 44.44%.

Analyst Upgrades and Downgrades

JWN has been the topic of a number of analyst reports. Barclays raised Nordstrom from an “underweight” rating to an “equal weight” rating and lifted their price target for the stock from $18.00 to $23.00 in a research note on Thursday, September 5th. The Goldman Sachs Group raised their price objective on Nordstrom from $19.00 to $21.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 28th. Telsey Advisory Group raised their price objective on Nordstrom from $23.00 to $24.00 and gave the stock a “market perform” rating in a research report on Wednesday, August 28th. JPMorgan Chase & Co. raised their price objective on Nordstrom from $19.00 to $20.00 and gave the stock an “underweight” rating in a research report on Wednesday, August 28th. Finally, BMO Capital Markets raised their price objective on Nordstrom from $20.00 to $22.00 and gave the stock a “market perform” rating in a research report on Wednesday, August 28th. Three equities research analysts have rated the stock with a sell rating, ten have given a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $20.33.

Insider Buying and Selling

In other Nordstrom news, COO Alexis Depree sold 20,000 shares of Nordstrom stock in a transaction that occurred on Tuesday, September 24th. The stock was sold at an average price of $23.20, for a total value of $464,000.00. Following the transaction, the chief operating officer now directly owns 169,331 shares of the company’s stock, valued at $3,928,479.20. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 5.78% of the company’s stock.

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.