Nordstrom, Inc. (NYSE:JWN) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. cut its stake in Nordstrom, Inc. (NYSE:JWN) by 31.5% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 223,659 shares of the specialty retailer’s stock after selling 102,692 shares during the quarter. Principal Financial Group Inc.’s holdings in Nordstrom were worth $5,030,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. State of Alaska Department of Revenue grew its position in Nordstrom by 7.3% in the third quarter. State of Alaska Department of Revenue now owns 11,236 shares of the specialty retailer’s stock worth $252,000 after acquiring an additional 760 shares during the period. Stephens Inc. AR grew its holdings in shares of Nordstrom by 0.5% during the 3rd quarter. Stephens Inc. AR now owns 153,061 shares of the specialty retailer’s stock worth $3,442,000 after purchasing an additional 805 shares during the period. CWM LLC increased its position in shares of Nordstrom by 28.7% during the 3rd quarter. CWM LLC now owns 3,628 shares of the specialty retailer’s stock worth $82,000 after purchasing an additional 810 shares during the last quarter. Venturi Wealth Management LLC raised its holdings in Nordstrom by 355.9% in the 3rd quarter. Venturi Wealth Management LLC now owns 1,272 shares of the specialty retailer’s stock valued at $29,000 after buying an additional 993 shares during the period. Finally, Caprock Group LLC lifted its position in Nordstrom by 9.1% in the third quarter. Caprock Group LLC now owns 11,931 shares of the specialty retailer’s stock valued at $268,000 after buying an additional 1,000 shares during the last quarter. Hedge funds and other institutional investors own 88.73% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on JWN. Evercore ISI boosted their price target on shares of Nordstrom from $20.00 to $22.00 and gave the company an “in-line” rating in a research note on Wednesday, November 27th. Bank of America boosted their target price on Nordstrom from $20.00 to $22.00 and gave the company an “underperform” rating in a research report on Wednesday, November 27th. Citigroup raised their price target on Nordstrom from $22.00 to $23.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 19th. UBS Group lifted their price objective on Nordstrom from $13.00 to $14.50 and gave the company a “sell” rating in a research note on Wednesday, November 27th. Finally, Barclays raised Nordstrom from an “underweight” rating to an “equal weight” rating and increased their target price for the stock from $18.00 to $23.00 in a research note on Thursday, September 5th. Four analysts have rated the stock with a sell rating, ten have given a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $21.13.

Nordstrom Stock Performance

Shares of JWN opened at $24.15 on Friday. Nordstrom, Inc. has a 1 year low of $16.63 and a 1 year high of $24.99. The stock has a market capitalization of $3.99 billion, a PE ratio of 15.38 and a beta of 2.56. The company has a debt-to-equity ratio of 2.65, a quick ratio of 0.35 and a current ratio of 1.14. The stock has a 50-day simple moving average of $23.28 and a 200-day simple moving average of $22.59.

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

Nordstrom Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 18th. Shareholders of record on Tuesday, December 3rd were paid a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 3.15%. The ex-dividend date was Tuesday, December 3rd. Nordstrom’s dividend payout ratio is presently 48.41%.

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.