Bank of New York Mellon Corp Trims Stock Position in Nordstrom, Inc. (NYSE:JWN)

Bank of New York Mellon Corp lessened its holdings in Nordstrom, Inc. (NYSE:JWN) by 13.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,332,677 shares of the specialty retailer’s stock after selling 214,029 shares during the period. Bank of New York Mellon Corp owned about 0.81% of Nordstrom worth $32,184,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Quantinno Capital Management LP increased its stake in shares of Nordstrom by 49.3% in the 3rd quarter. Quantinno Capital Management LP now owns 145,146 shares of the specialty retailer’s stock valued at $3,264,000 after purchasing an additional 47,923 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Nordstrom by 17.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,422,856 shares of the specialty retailer’s stock valued at $32,000,000 after purchasing an additional 208,193 shares in the last quarter. JPMorgan Chase & Co. increased its stake in shares of Nordstrom by 29.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 388,796 shares of the specialty retailer’s stock valued at $8,744,000 after purchasing an additional 89,114 shares in the last quarter. Point72 Asset Management L.P. increased its stake in shares of Nordstrom by 190.1% in the 3rd quarter. Point72 Asset Management L.P. now owns 59,678 shares of the specialty retailer’s stock valued at $1,342,000 after purchasing an additional 39,104 shares in the last quarter. Finally, Sanctuary Advisors LLC increased its stake in shares of 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 purchasing an additional 31,498 shares in the last quarter. Hedge funds and other institutional investors own 88.73% of the company’s stock.

Analyst Ratings Changes

A number of analysts have issued reports on JWN shares. Barclays boosted their target price on Nordstrom from $23.00 to $24.00 and gave the company an “equal weight” rating in a research report on Thursday, January 16th. StockNews.com began coverage on Nordstrom in a research report on Friday. They set a “buy” rating on the stock. Argus lowered Nordstrom from a “buy” rating to a “sell” rating in a report on Monday, December 30th. Evercore ISI upped their price objective on shares of Nordstrom from $22.00 to $24.00 and gave the company an “in-line” rating in a research note on Monday, January 13th. Finally, Bank of America increased their target price 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. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $22.90.

Nordstrom Trading Up 0.3 %

Shares of JWN opened at $24.46 on Friday. The company has a debt-to-equity ratio of 2.65, a current ratio of 1.14 and a quick ratio of 0.35. The firm has a 50 day simple moving average of $24.24 and a 200-day simple moving average of $23.33. 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 $4.04 billion, a price-to-earnings ratio of 15.58 and a beta of 2.60.

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

Nordstrom Dividend Announcement

The business 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. The ex-dividend date of this dividend is Tuesday, March 11th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 3.11%. Nordstrom’s dividend payout ratio (DPR) is presently 44.19%.

About Nordstrom

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.