Truist Financial Corp Has $554,000 Holdings in Nordstrom, Inc. (NYSE:JWN)

Truist Financial Corp lessened its position in shares of Nordstrom, Inc. (NYSE:JWN) by 24.3% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 26,109 shares of the specialty retailer’s stock after selling 8,361 shares during the period. Truist Financial Corp’s holdings in Nordstrom were worth $554,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also made changes to their positions in the company. American Century Companies Inc. boosted its holdings in shares of Nordstrom by 66.2% in the 2nd 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 in the last quarter. Vanguard Group Inc. raised its stake in Nordstrom by 5.7% during the first quarter. Vanguard Group Inc. now owns 10,653,007 shares of the specialty retailer’s stock worth $215,936,000 after acquiring an additional 579,001 shares in the last quarter. Marshall Wace LLP lifted its holdings in shares of Nordstrom by 38.4% in the second quarter. Marshall Wace LLP now owns 1,479,414 shares of the specialty retailer’s stock worth $31,393,000 after acquiring an additional 410,152 shares during the last quarter. NewSquare Capital LLC acquired a new stake in shares of Nordstrom in the 2nd quarter valued at approximately $7,783,000. Finally, Ceredex Value Advisors LLC bought a new stake in shares of Nordstrom during the 2nd quarter valued at approximately $7,310,000. Institutional investors and hedge funds own 88.73% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on JWN. StockNews.com upgraded shares of Nordstrom from a “hold” rating to a “buy” rating in a report on Thursday, August 8th. KeyCorp downgraded Nordstrom from an “overweight” rating to a “sector weight” rating in a research report on Thursday, September 26th. JPMorgan Chase & Co. upped their price objective on Nordstrom from $19.00 to $20.00 and gave the company an “underweight” rating in a research note on Wednesday, August 28th. Bank of America lifted their target price on shares of Nordstrom from $18.00 to $20.00 and gave the stock an “underperform” rating in a research report on Wednesday, August 28th. Finally, TD Cowen upped their price target on shares of Nordstrom from $24.00 to $25.00 and gave the company a “hold” rating in a research report on Wednesday, August 28th. Three equities research analysts have rated the stock with a sell rating, ten have given a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $20.23.

Nordstrom Stock Performance

Shares of JWN stock opened at $24.08 on Wednesday. The company has a quick ratio of 0.41, a current ratio of 1.07 and a debt-to-equity ratio of 2.76. Nordstrom, Inc. has a 52 week low of $12.88 and a 52 week high of $24.19. The firm has a 50 day moving average of $22.23 and a 200-day moving average of $21.40. The company has a market cap of $3.94 billion, a price-to-earnings ratio of 13.16 and a beta of 2.60.

Nordstrom (NYSE:JWN) last announced its quarterly earnings data on Tuesday, August 27th. The specialty retailer reported $0.96 earnings per share for the quarter, beating the consensus estimate of $0.71 by $0.25. The firm had revenue of $3.89 billion for the quarter, compared to analyst estimates of $3.88 billion. Nordstrom had a negative net margin of 1.44% and a negative return on equity of 21.26%. The business’s quarterly revenue was up 3.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.84 earnings per share. On average, equities analysts forecast that Nordstrom, Inc. will post 1.89 earnings per share for the current year.

Nordstrom Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 18th. Stockholders of record on Tuesday, September 3rd were given a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 3.16%. The ex-dividend date was Tuesday, September 3rd. Nordstrom’s payout ratio is 41.53%.

Insider Buying and Selling

In other Nordstrom news, COO Alexis Depree sold 20,000 shares of the company’s stock in a transaction on Tuesday, September 24th. The shares were 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 in the company, valued at approximately $3,928,479.20. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 5.78% of the stock is owned by company 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.