Principal Financial Group Inc. Sells 1,015 Shares of Nordstrom, Inc. (NYSE:JWN)

Principal Financial Group Inc. lessened its holdings in shares of Nordstrom, Inc. (NYSE:JWN) by 0.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 222,644 shares of the specialty retailer’s stock after selling 1,015 shares during the quarter. Principal Financial Group Inc. owned approximately 0.13% of Nordstrom worth $5,377,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in JWN. Venturi Wealth Management LLC grew its stake in Nordstrom by 355.9% in the third quarter. Venturi Wealth Management LLC now owns 1,272 shares of the specialty retailer’s stock worth $29,000 after purchasing an additional 993 shares during the period. Spire Wealth Management grew its stake in Nordstrom by 90.9% in the fourth quarter. Spire Wealth Management now owns 2,100 shares of the specialty retailer’s stock worth $51,000 after purchasing an additional 1,000 shares during the period. KBC Group NV grew its stake in Nordstrom by 36.5% in the fourth quarter. KBC Group NV now owns 4,816 shares of the specialty retailer’s stock worth $116,000 after purchasing an additional 1,287 shares during the period. Blue Trust Inc. grew its stake in Nordstrom by 51.9% in the fourth quarter. Blue Trust Inc. now owns 5,832 shares of the specialty retailer’s stock worth $131,000 after purchasing an additional 1,993 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. grew its stake in Nordstrom by 42.2% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 8,250 shares of the specialty retailer’s stock worth $183,000 after purchasing an additional 2,450 shares during the period. Institutional investors own 88.73% of the company’s stock.

Nordstrom Stock Down 0.1 %

JWN stock opened at $24.26 on Tuesday. Nordstrom, Inc. has a fifty-two week low of $16.78 and a fifty-two week high of $24.99. The business’s 50-day moving average is $24.22 and its two-hundred day moving average is $23.28. The company has a debt-to-equity ratio of 2.65, a quick ratio of 0.35 and a current ratio of 1.14. The company has a market cap of $4.00 billion, a price-to-earnings ratio of 15.45 and a beta of 2.51.

Nordstrom Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 26th. Shareholders of record on Tuesday, March 11th will be issued a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 3.13%. The ex-dividend date is Tuesday, March 11th. Nordstrom’s dividend payout ratio is 48.41%.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Telsey Advisory Group reaffirmed a “market perform” rating and issued a $24.00 price target on shares of Nordstrom in a research note on Tuesday, February 25th. Argus cut Nordstrom from a “buy” rating to a “sell” rating in a research note on Monday, December 30th. Bank of America increased their target price on Nordstrom from $20.00 to $22.00 and gave the stock an “underperform” rating in a research note on Wednesday, November 27th. Citigroup increased their target price on Nordstrom from $22.00 to $23.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 19th. Finally, Barclays increased their target price on Nordstrom from $23.00 to $24.00 and gave the stock an “equal weight” rating in a research note on Thursday, January 16th. Three analysts have rated the stock with a sell rating, eleven have issued a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $22.17.

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.