Louisiana State Employees Retirement System Sells 900 Shares of Nordstrom, Inc. (NYSE:JWN)

Louisiana State Employees Retirement System cut its position in shares of Nordstrom, Inc. (NYSE:JWN) by 3.2% during the third quarter, according to the company in its most recent disclosure with the Securities and 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 reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of JWN. American Century Companies Inc. increased its position in shares of Nordstrom by 66.2% during the second quarter. American Century Companies Inc. now owns 1,661,227 shares of the specialty retailer’s stock valued at $35,251,000 after purchasing an additional 661,769 shares during the period. Vanguard Group Inc. increased its position in shares of Nordstrom by 5.7% during the first quarter. Vanguard Group Inc. now owns 10,653,007 shares of the specialty retailer’s stock valued at $215,936,000 after purchasing an additional 579,001 shares during the period. Marshall Wace LLP increased its position in shares of Nordstrom by 38.4% during the second quarter. Marshall Wace LLP now owns 1,479,414 shares of the specialty retailer’s stock valued at $31,393,000 after purchasing an additional 410,152 shares during the period. NewSquare Capital LLC bought a new stake in shares of Nordstrom during the second quarter valued at approximately $7,783,000. Finally, Axiom Advisory LLC increased its position in shares of Nordstrom by 46.0% during the third quarter. Axiom Advisory LLC now owns 1,100,864 shares of the specialty retailer’s stock valued at $24,456,000 after purchasing an additional 346,994 shares during the period. 88.73% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently commented on JWN. KeyCorp lowered Nordstrom from an “overweight” rating to a “sector weight” rating in a research note on Thursday, September 26th. JPMorgan Chase & Co. boosted their price target on Nordstrom from $19.00 to $20.00 and gave the company an “underweight” rating in a research note on Wednesday, August 28th. TD Cowen boosted their price target on Nordstrom from $24.00 to $25.00 and gave the company a “hold” rating in a research note on Wednesday, August 28th. Bank of America boosted their price target on Nordstrom from $18.00 to $20.00 and gave the company an “underperform” rating in a research note on Wednesday, August 28th. Finally, BMO Capital Markets boosted their price target on Nordstrom from $20.00 to $22.00 and gave the company a “market perform” rating in a research note on Wednesday, August 28th. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $20.33.

Nordstrom Price Performance

Nordstrom stock opened at $22.71 on Wednesday. The company has a debt-to-equity ratio of 2.76, a quick ratio of 0.41 and a current ratio of 1.07. The firm has a market cap of $3.73 billion, a P/E ratio of 13.28 and a beta of 2.59. The business’s fifty day moving average is $22.68 and its two-hundred day moving average is $21.87. Nordstrom, Inc. has a 52 week low of $12.88 and a 52 week high of $24.93.

Nordstrom (NYSE:JWN) last issued its quarterly earnings results on Tuesday, August 27th. The specialty retailer reported $0.96 earnings per share (EPS) for the quarter, beating 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 business had revenue of $3.89 billion for the quarter, compared to analyst estimates of $3.88 billion. During the same quarter in the prior year, the firm posted $0.84 earnings per share. The firm’s revenue for the quarter was up 3.2% compared to the same quarter last year. Equities research analysts forecast that Nordstrom, Inc. will post 1.89 earnings per share for the current fiscal year.

Nordstrom Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 18th. Stockholders of record on Tuesday, September 3rd were paid a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 3.35%. The ex-dividend date was Tuesday, September 3rd. Nordstrom’s dividend payout ratio (DPR) is presently 44.44%.

Insider Activity

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

Nordstrom 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.