Nordstrom, Inc. (NYSE:JWN) Shares Sold by Truist Financial Corp

Truist Financial Corp lessened its position in shares of Nordstrom, Inc. (NYSE:JWN) by 43.6% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 12,357 shares of the specialty retailer’s stock after selling 9,554 shares during the quarter. Truist Financial Corp’s holdings in Nordstrom were worth $298,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the company. Quantinno Capital Management LP grew its position in shares of Nordstrom by 49.3% during the third quarter. Quantinno Capital Management LP now owns 145,146 shares of the specialty retailer’s stock worth $3,264,000 after acquiring an additional 47,923 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Nordstrom by 17.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,422,856 shares of the specialty retailer’s stock valued at $32,000,000 after buying an additional 208,193 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Nordstrom by 29.7% during the third quarter. JPMorgan Chase & Co. now owns 388,796 shares of the specialty retailer’s stock worth $8,744,000 after buying an additional 89,114 shares during the period. Point72 Asset Management L.P. grew its holdings in shares of Nordstrom by 190.1% during the third quarter. Point72 Asset Management L.P. now owns 59,678 shares of the specialty retailer’s stock worth $1,342,000 after buying an additional 39,104 shares during the last quarter. Finally, Sanctuary Advisors LLC increased its position in Nordstrom by 160.9% in the 3rd quarter. Sanctuary Advisors LLC now owns 51,071 shares of the specialty retailer’s stock valued at $1,187,000 after acquiring an additional 31,498 shares during the period. Institutional investors and hedge funds own 88.73% of the company’s stock.

Nordstrom Stock Performance

JWN opened at $24.35 on Thursday. Nordstrom, Inc. has a 1-year low of $16.78 and a 1-year high of $24.99. The stock has a market cap of $4.02 billion, a P/E ratio of 15.51 and a beta of 2.51. The stock’s 50 day simple moving average is $24.23 and its 200 day simple moving average is $23.30. The company has a debt-to-equity ratio of 2.65, a current ratio of 1.14 and a quick ratio of 0.35.

Nordstrom (NYSE:JWN) last announced its quarterly earnings results on Tuesday, March 4th. The specialty retailer reported $1.10 earnings per share for the quarter, beating analysts’ consensus estimates of $0.90 by $0.20. The business had revenue of $4.32 billion during the quarter, compared to analysts’ expectations of $4.32 billion. Nordstrom had a negative return on equity of 18.04% and a negative net margin of 1.57%. As a group, equities analysts anticipate that Nordstrom, Inc. will post 1.97 EPS for the current fiscal year.

Nordstrom Announces Dividend

The firm also recently declared 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 annualized dividend and a dividend yield of 3.12%. The ex-dividend date is Tuesday, March 11th. Nordstrom’s dividend payout ratio (DPR) is presently 48.41%.

Wall Street Analysts Forecast Growth

JWN has been the topic of several analyst reports. UBS Group upgraded Nordstrom from a “sell” rating to a “neutral” rating and lifted their target price for the company from $14.50 to $24.00 in a research note on Friday, January 10th. Bank of America lifted their price objective on shares of Nordstrom from $20.00 to $22.00 and gave the company an “underperform” rating in a research report on Wednesday, November 27th. Telsey Advisory Group reissued a “market perform” rating and issued a $24.00 price objective on shares of Nordstrom in a research note on Wednesday. Barclays raised their target price on shares of Nordstrom from $23.00 to $24.00 and gave the stock an “equal weight” rating in a research note on Thursday, January 16th. Finally, Citigroup boosted their price target on shares of Nordstrom from $22.00 to $23.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 19th. Three equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $22.17.

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.