Nordstrom, Inc. (NYSE:JWN) Stock Position Trimmed by Citigroup Inc.

Citigroup Inc. trimmed its stake in shares of Nordstrom, Inc. (NYSE:JWN) by 5.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 174,085 shares of the specialty retailer’s stock after selling 9,425 shares during the quarter. Citigroup Inc. owned about 0.11% of Nordstrom worth $3,915,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Cyndeo Wealth Partners LLC acquired a new position in shares of Nordstrom in the 3rd quarter worth approximately $6,248,000. Olympiad Research LP acquired a new position in shares of Nordstrom in the 3rd quarter worth approximately $508,000. Point72 DIFC Ltd acquired a new position in shares of Nordstrom in the 2nd quarter worth approximately $1,174,000. Comerica Bank grew its stake in shares of Nordstrom by 59.9% in the 1st quarter. Comerica Bank now owns 75,806 shares of the specialty retailer’s stock worth $1,537,000 after purchasing an additional 28,411 shares during the last quarter. Finally, American Century Companies Inc. increased its position in shares of Nordstrom by 66.2% in the second quarter. American Century Companies Inc. now owns 1,661,227 shares of the specialty retailer’s stock worth $35,251,000 after acquiring an additional 661,769 shares in the last quarter. 88.73% of the stock is currently owned by institutional investors.

Nordstrom Trading Up 1.4 %

Shares of Nordstrom stock opened at $23.19 on Wednesday. The stock has a market capitalization of $3.81 billion, a P/E ratio of 14.77 and a beta of 2.56. Nordstrom, Inc. has a 12-month low of $15.08 and a 12-month high of $24.99. The company has a quick ratio of 0.35, a current ratio of 1.14 and a debt-to-equity ratio of 2.65. The company has a 50-day simple moving average of $22.85 and a 200 day simple moving average of $22.28.

Nordstrom (NYSE:JWN) last posted its quarterly earnings data on Tuesday, November 26th. The specialty retailer reported $0.33 earnings per share for the quarter, topping the consensus estimate of $0.22 by $0.11. The company had revenue of $3.35 billion during the quarter, compared to analyst estimates of $3.34 billion. Nordstrom had a negative net margin of 1.57% and a negative return on equity of 18.04%. The company’s revenue was up 4.6% on a year-over-year basis. During the same quarter last year, the business posted $0.25 earnings per share. Research analysts expect that Nordstrom, Inc. will post 1.93 earnings per share for the current fiscal year.

Nordstrom Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Tuesday, December 3rd will be given a $0.19 dividend. The ex-dividend date is Tuesday, December 3rd. This represents a $0.76 annualized dividend and a yield of 3.28%. Nordstrom’s payout ratio is 48.41%.

Insider Buying and Selling at Nordstrom

In other Nordstrom news, COO Alexis Depree sold 20,000 shares of Nordstrom stock in a transaction on Tuesday, September 24th. The stock was 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 owns 169,331 shares in the company, valued at approximately $3,928,479.20. The trade was a 10.56 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 5.78% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on JWN shares. TD Cowen lifted their target price on shares of Nordstrom from $24.00 to $25.00 and gave the stock a “hold” rating in a research report on Wednesday, August 28th. Barclays upgraded shares of Nordstrom from an “underweight” rating to an “equal weight” rating and lifted their target price for the company from $18.00 to $23.00 in a research note on Thursday, September 5th. JPMorgan Chase & Co. lifted their target price on shares of 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 boosted their price objective on shares of Nordstrom from $20.00 to $22.00 and gave the stock an “underperform” rating in a research note on Wednesday, November 27th. Finally, Telsey Advisory Group boosted their price objective on shares of Nordstrom from $24.00 to $26.00 and gave the stock a “market perform” rating in a research note on Wednesday, November 27th. Three research analysts have rated the stock with a sell rating, ten have issued a hold rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $21.29.

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.