Nordstrom, Inc. (NYSE:JWN) Stock Position Lessened by Wellington Management Group LLP

Wellington Management Group LLP reduced its stake in shares of Nordstrom, Inc. (NYSE:JWN) by 6.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 339,675 shares of the specialty retailer’s stock after selling 24,015 shares during the quarter. Wellington Management Group LLP owned about 0.21% of Nordstrom worth $6,267,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the stock. Winslow Asset Management Inc. boosted its holdings in shares of Nordstrom by 5.4% in the fourth quarter. Winslow Asset Management Inc. now owns 167,896 shares of the specialty retailer’s stock valued at $3,098,000 after acquiring an additional 8,626 shares in the last quarter. Nomura Holdings Inc. boosted its stake in Nordstrom by 152.2% during the 4th quarter. Nomura Holdings Inc. now owns 169,604 shares of the specialty retailer’s stock valued at $3,129,000 after purchasing an additional 102,361 shares in the last quarter. Verition Fund Management LLC increased its position in shares of Nordstrom by 347.2% during the 4th quarter. Verition Fund Management LLC now owns 309,299 shares of the specialty retailer’s stock valued at $5,707,000 after purchasing an additional 240,134 shares during the period. Soviero Asset Management LP bought a new stake in shares of Nordstrom in the 4th quarter worth $4,982,000. Finally, Personal CFO Solutions LLC lifted its holdings in shares of Nordstrom by 5.7% in the fourth quarter. Personal CFO Solutions LLC now owns 11,882 shares of the specialty retailer’s stock valued at $219,000 after buying an additional 636 shares during the period. Institutional investors and hedge funds own 88.73% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on JWN. Evercore ISI raised their price objective on shares of Nordstrom from $17.00 to $19.00 and gave the company an “in-line” rating in a research report on Friday, May 31st. Telsey Advisory Group reaffirmed a “market perform” rating and issued a $19.00 price target on shares of Nordstrom in a report on Friday, May 31st. StockNews.com lowered Nordstrom from a “buy” rating to a “hold” rating in a research note on Tuesday. Piper Sandler boosted their target price on Nordstrom from $17.00 to $20.00 and gave the stock a “neutral” rating in a research report on Wednesday, March 6th. Finally, Bank of America increased their price target on Nordstrom from $15.00 to $18.00 and gave the company an “underperform” rating in a research report on Friday, May 31st. Five equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $17.42.

Nordstrom Price Performance

JWN opened at $21.22 on Friday. The stock has a fifty day moving average price of $20.92 and a 200 day moving average price of $19.55. The company has a current ratio of 1.03, a quick ratio of 0.36 and a debt-to-equity ratio of 3.13. Nordstrom, Inc. has a 1 year low of $12.88 and a 1 year high of $23.54. The stock has a market cap of $3.47 billion, a price-to-earnings ratio of 11.60, a PEG ratio of 2.44 and a beta of 2.58.

Nordstrom (NYSE:JWN) last announced its quarterly earnings results on Thursday, May 30th. The specialty retailer reported ($0.24) EPS for the quarter, missing the consensus estimate of ($0.08) by ($0.16). The firm had revenue of $3.34 billion during the quarter, compared to the consensus estimate of $3.19 billion. Nordstrom had a negative net margin of 1.35% and a negative return on equity of 26.45%. The company’s quarterly revenue was up 4.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.07 EPS. Analysts forecast that Nordstrom, Inc. will post 1.79 EPS for the current fiscal year.

Nordstrom Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 19th. Shareholders of record on Tuesday, June 4th were given a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 3.58%. The ex-dividend date was Tuesday, June 4th. Nordstrom’s payout ratio is 41.53%.

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.