Investors Research Corp Cuts Stock Holdings in Nordstrom, Inc. (NYSE:JWN)

Investors Research Corp trimmed its stake in shares of Nordstrom, Inc. (NYSE:JWN) by 9.5% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 21,613 shares of the specialty retailer’s stock after selling 2,262 shares during the period. Investors Research Corp’s holdings in Nordstrom were worth $522,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of JWN. Hennessy Advisors Inc. purchased a new position in Nordstrom during the fourth quarter valued at $56,026,000. Verition Fund Management LLC grew its stake in Nordstrom by 147.4% during the third quarter. Verition Fund Management LLC now owns 1,218,365 shares of the specialty retailer’s stock valued at $27,401,000 after acquiring an additional 725,803 shares in the last quarter. Versor Investments LP purchased a new position in Nordstrom during the fourth quarter valued at $9,409,000. Charles Schwab Investment Management Inc. grew its stake in Nordstrom by 20.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,712,452 shares of the specialty retailer’s stock valued at $41,356,000 after acquiring an additional 289,596 shares in the last quarter. Finally, Hotchkis & Wiley Capital Management LLC purchased a new position in Nordstrom during the third quarter valued at $6,171,000. 88.73% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have commented on JWN shares. Telsey Advisory Group reiterated a “market perform” rating and set a $24.00 price objective on shares of Nordstrom in a research report on Wednesday, March 5th. Evercore ISI increased their price objective on shares of Nordstrom from $22.00 to $24.00 and gave the company an “in-line” rating in a research report on Monday, January 13th. StockNews.com started coverage on shares of Nordstrom in a research report on Friday. They set a “buy” rating for the company. Bank of America increased their price objective on shares of Nordstrom from $20.00 to $22.00 and gave the company an “underperform” rating in a research report on Wednesday, November 27th. Finally, Argus lowered shares of Nordstrom from a “buy” rating to a “sell” rating in a research report on Monday, December 30th. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $22.90.

Nordstrom Price Performance

Nordstrom stock opened at $24.42 on Tuesday. The firm has a 50-day moving average price of $24.24 and a 200-day moving average price of $23.37. The firm has a market capitalization of $4.03 billion, a PE ratio of 15.55 and a beta of 2.60. The company has a current ratio of 1.14, a quick ratio of 0.35 and a debt-to-equity ratio of 2.65. Nordstrom, Inc. has a 12-month low of $16.78 and a 12-month high of $24.99.

Nordstrom (NYSE:JWN) last announced its quarterly earnings data on Tuesday, March 4th. The specialty retailer reported $1.10 earnings per share for the quarter, beating analysts’ consensus estimates of $0.90 by $0.20. Nordstrom had a negative net margin of 1.57% and a negative return on equity of 18.04%. The company had revenue of $4.32 billion during the quarter, compared to analyst estimates of $4.32 billion. As a group, equities research analysts forecast that Nordstrom, Inc. will post 1.97 EPS for the current year.

Nordstrom Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 26th. Investors of record on Tuesday, March 11th will be issued a dividend of $0.19 per share. The ex-dividend date is Tuesday, March 11th. This represents a $0.76 dividend on an annualized basis and a yield of 3.11%. Nordstrom’s payout ratio is 44.19%.

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.