AQR Capital Management LLC Reduces Stock Position in Nordstrom, Inc. (NYSE:JWN)

AQR Capital Management LLC trimmed its holdings in shares of Nordstrom, Inc. (NYSE:JWN) by 60.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 638,756 shares of the specialty retailer’s stock after selling 990,477 shares during the quarter. AQR Capital Management LLC owned 0.39% of Nordstrom worth $13,452,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the business. Vanguard Group Inc. raised its position in 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. Victory Capital Management Inc. increased its position in shares of Nordstrom by 1.7% during the 2nd quarter. Victory Capital Management Inc. now owns 3,371,988 shares of the specialty retailer’s stock valued at $71,554,000 after purchasing an additional 57,546 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in Nordstrom by 4.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,136,639 shares of the specialty retailer’s stock valued at $66,557,000 after buying an additional 137,094 shares during the period. Schroder Investment Management Group lifted its position in Nordstrom by 44.9% in the fourth quarter. Schroder Investment Management Group now owns 2,648,637 shares of the specialty retailer’s stock worth $48,867,000 after buying an additional 820,390 shares during the last quarter. Finally, American Century Companies Inc. boosted its stake in Nordstrom by 66.2% during the second quarter. American Century Companies Inc. now owns 1,661,227 shares of the specialty retailer’s stock worth $35,251,000 after buying an additional 661,769 shares during the period. Institutional investors own 88.73% of the company’s stock.

Analysts Set New Price Targets

JWN has been the subject of several analyst reports. StockNews.com upgraded shares of Nordstrom from a “hold” rating to a “buy” rating in a report on Thursday, August 8th. Telsey Advisory Group raised their price objective on shares of Nordstrom from $23.00 to $24.00 and gave the stock a “market perform” rating in a research note on Wednesday, August 28th. The Goldman Sachs Group upped their target price on Nordstrom from $19.00 to $21.00 and gave the company a “neutral” rating in a research note on Wednesday, August 28th. JPMorgan Chase & Co. raised their price target on Nordstrom from $19.00 to $20.00 and gave the stock an “underweight” rating in a research note on Wednesday, August 28th. Finally, TD Cowen upped their price objective on Nordstrom from $24.00 to $25.00 and gave the company a “hold” rating in a research report on Wednesday, August 28th. Three investment analysts have rated the stock with a sell rating, ten have given a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $20.23.

Nordstrom Stock Down 3.5 %

Shares of Nordstrom stock opened at $21.70 on Wednesday. The company has a debt-to-equity ratio of 2.76, a current ratio of 1.07 and a quick ratio of 0.41. The stock has a market cap of $3.55 billion, a price-to-earnings ratio of 11.86 and a beta of 2.61. The firm’s 50-day moving average is $22.15 and its two-hundred day moving average is $21.16. Nordstrom, Inc. has a 1 year low of $12.88 and a 1 year high of $24.03.

Nordstrom (NYSE:JWN) last released its quarterly earnings data on Tuesday, August 27th. The specialty retailer reported $0.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.71 by $0.25. The firm had revenue of $3.89 billion for the quarter, compared to the consensus estimate of $3.88 billion. Nordstrom had a negative net margin of 1.44% and a negative return on equity of 21.26%. The company’s quarterly revenue was up 3.2% on a year-over-year basis. During the same period last year, the firm earned $0.84 earnings per share. As a group, research analysts expect that Nordstrom, Inc. will post 1.9 earnings per share for the current fiscal year.

Nordstrom Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 18th. Investors of record on Tuesday, September 3rd were paid a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 3.50%. The ex-dividend date of this dividend was Tuesday, September 3rd. Nordstrom’s dividend payout ratio (DPR) is currently 41.53%.

Insider Activity at Nordstrom

In other Nordstrom news, COO Alexis Depree sold 20,000 shares of the business’s stock in a transaction dated Tuesday, September 24th. The shares were sold at an average price of $23.20, for a total value of $464,000.00. Following the completion of the transaction, the chief operating officer now directly owns 169,331 shares in the company, valued at $3,928,479.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 5.78% of the stock is owned by corporate 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.