Nordstrom, Inc. (NYSE:JWN) Stake Lowered by Acadian Asset Management LLC

Acadian Asset Management LLC reduced its stake in shares of Nordstrom, Inc. (NYSE:JWN) by 14.3% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,003 shares of the specialty retailer’s stock after selling 667 shares during the period. Acadian Asset Management LLC’s holdings in Nordstrom were worth $84,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Norges Bank purchased a new position in shares of Nordstrom during the 4th quarter valued at $23,572,000. Capstone Investment Advisors LLC grew its holdings in shares of Nordstrom by 185.0% during the 1st quarter. Capstone Investment Advisors LLC now owns 211,471 shares of the specialty retailer’s stock valued at $4,287,000 after acquiring an additional 137,271 shares in the last quarter. Boulder Hill Capital Management LP purchased a new position in shares of Nordstrom during the 4th quarter valued at $2,065,000. Nomura Holdings Inc. grew its holdings in shares of 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 acquiring an additional 102,361 shares in the last quarter. Finally, Verition Fund Management LLC lifted its stake in shares of Nordstrom by 347.2% in 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 last quarter. 88.73% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

JWN has been the subject of several analyst reports. TD Cowen lifted their price objective on shares of Nordstrom from $24.00 to $25.00 and gave the company a “hold” rating in a research note on Wednesday, August 28th. Telsey Advisory Group lifted their price objective on shares of Nordstrom from $23.00 to $24.00 and gave the company a “market perform” rating in a research note on Wednesday, August 28th. StockNews.com raised shares of Nordstrom from a “hold” rating to a “buy” rating in a research note on Thursday, August 8th. Barclays raised shares of Nordstrom from an “underweight” rating to an “equal weight” rating and lifted their price objective for the company from $18.00 to $23.00 in a research note on Thursday, September 5th. Finally, Evercore ISI lifted their price objective on shares of Nordstrom from $17.00 to $19.00 and gave the company an “in-line” rating in a research note on Friday, May 31st. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $20.23.

Nordstrom Stock Performance

NYSE:JWN opened at $23.02 on Friday. The firm’s 50-day moving average is $22.20 and its 200-day moving average is $20.92. Nordstrom, Inc. has a 52-week low of $12.88 and a 52-week high of $24.03. 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 company has a market cap of $3.77 billion, a price-to-earnings ratio of 12.58, a PEG ratio of 2.38 and a beta of 2.61.

Nordstrom (NYSE:JWN) last posted its quarterly earnings data on Tuesday, August 27th. The specialty retailer reported $0.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.71 by $0.25. Nordstrom had a negative net margin of 1.44% and a negative return on equity of 21.26%. The company had revenue of $3.89 billion for the quarter, compared to the consensus estimate of $3.88 billion. During the same quarter in the previous year, the firm posted $0.84 EPS. The business’s revenue was up 3.2% compared to the same quarter last year. Equities research analysts anticipate that Nordstrom, Inc. will post 1.9 earnings per share for the current year.

Nordstrom Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 18th. Stockholders of record on Tuesday, September 3rd were issued a dividend of $0.19 per share. The ex-dividend date was Tuesday, September 3rd. This represents a $0.76 annualized dividend and a dividend yield of 3.30%. Nordstrom’s payout ratio is 41.53%.

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.