Arizona State Retirement System Has $582,000 Stake in Nordstrom, Inc. (NYSE:JWN)

Arizona State Retirement System lowered its holdings in shares of Nordstrom, Inc. (NYSE:JWN) by 5.4% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 27,423 shares of the specialty retailer’s stock after selling 1,575 shares during the quarter. Arizona State Retirement System’s holdings in Nordstrom were worth $582,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the business. Vanguard Group Inc. lifted its holdings in shares of Nordstrom by 5.7% during the 1st quarter. Vanguard Group Inc. now owns 10,653,007 shares of the specialty retailer’s stock valued at $215,936,000 after purchasing an additional 579,001 shares in the last quarter. Victory Capital Management Inc. lifted its holdings in shares of Nordstrom by 1.7% during the 2nd quarter. Victory Capital Management Inc. now owns 3,371,988 shares of the specialty retailer’s stock valued at $71,554,000 after purchasing an additional 57,546 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Nordstrom by 64.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,829,662 shares of the specialty retailer’s stock valued at $52,212,000 after purchasing an additional 1,104,604 shares in the last quarter. Schroder Investment Management Group lifted its holdings in shares of Nordstrom by 44.9% during the 4th quarter. Schroder Investment Management Group now owns 2,648,637 shares of the specialty retailer’s stock valued at $48,867,000 after purchasing an additional 820,390 shares in the last quarter. Finally, Norges Bank bought a new position in shares of Nordstrom during the 4th quarter valued at about $23,572,000. Institutional investors own 88.73% of the company’s stock.

Nordstrom Stock Performance

Shares of NYSE JWN opened at $22.54 on Tuesday. The company has a debt-to-equity ratio of 2.76, a current ratio of 1.07 and a quick ratio of 0.41. The stock’s fifty day moving average price is $22.19 and its two-hundred day moving average price is $20.86. Nordstrom, Inc. has a one year low of $12.88 and a one year high of $24.03. The firm has a market cap of $3.69 billion, a price-to-earnings ratio of 12.32, a P/E/G ratio of 2.38 and a beta of 2.61.

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, topping the consensus estimate of $0.71 by $0.25. Nordstrom had a negative return on equity of 21.26% and a negative net margin of 1.44%. The business had revenue of $3.89 billion during the quarter, compared to the consensus estimate of $3.88 billion. During the same period in the prior year, the company earned $0.84 EPS. Nordstrom’s revenue for the quarter was up 3.2% on a year-over-year basis. On average, equities analysts forecast that Nordstrom, Inc. will post 1.9 EPS for the current year.

Nordstrom Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 18th. Shareholders of record on Tuesday, September 3rd will be given a $0.19 dividend. The ex-dividend date is Tuesday, September 3rd. This represents a $0.76 annualized dividend and a yield of 3.37%. Nordstrom’s dividend payout ratio is presently 41.53%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Bank of America lifted their price objective on Nordstrom from $18.00 to $20.00 and gave the company an “underperform” rating in a report on Wednesday, August 28th. BMO Capital Markets boosted their target price on Nordstrom from $20.00 to $22.00 and gave the company a “market perform” rating in a research note on Wednesday, August 28th. JPMorgan Chase & Co. boosted their target price on Nordstrom from $19.00 to $20.00 and gave the company an “underweight” rating in a research note on Wednesday, August 28th. Barclays upgraded Nordstrom from an “underweight” rating to an “equal weight” rating and boosted their target price for the company from $18.00 to $23.00 in a research note on Thursday, September 5th. Finally, Telsey Advisory Group boosted their target price on Nordstrom from $23.00 to $24.00 and gave the company a “market perform” rating in a research note on Wednesday, August 28th. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $20.23.

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.