Royce & Associates LP Sells 509,220 Shares of Nordstrom, Inc. (NYSE:JWN)

Royce & Associates LP decreased its holdings in shares of Nordstrom, Inc. (NYSE:JWN) by 80.1% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 126,590 shares of the specialty retailer’s stock after selling 509,220 shares during the period. Royce & Associates LP owned 0.08% of Nordstrom worth $2,847,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of JWN. Venturi Wealth Management LLC raised its holdings in shares of Nordstrom by 355.9% during the third quarter. Venturi Wealth Management LLC now owns 1,272 shares of the specialty retailer’s stock valued at $29,000 after acquiring an additional 993 shares in the last quarter. Atlas Capital Advisors LLC increased its position in Nordstrom by 101.8% during the 2nd quarter. Atlas Capital Advisors LLC now owns 1,491 shares of the specialty retailer’s stock valued at $32,000 after purchasing an additional 752 shares during the period. Rothschild Investment LLC bought a new position in Nordstrom in the 2nd quarter worth $39,000. Blue Trust Inc. lifted its position in shares of Nordstrom by 10,045.8% in the 2nd quarter. Blue Trust Inc. now owns 2,435 shares of the specialty retailer’s stock worth $49,000 after purchasing an additional 2,411 shares during the period. Finally, Point72 Hong Kong Ltd bought a new stake in shares of Nordstrom during the 2nd quarter valued at about $71,000. Hedge funds and other institutional investors own 88.73% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. StockNews.com upgraded shares of Nordstrom from a “hold” rating to a “buy” rating in a report on Thursday, August 8th. BMO Capital Markets raised 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. Bank of America lifted their price target on Nordstrom from $18.00 to $20.00 and gave the company an “underperform” rating in a research report on Wednesday, August 28th. JPMorgan Chase & Co. increased their price objective on Nordstrom from $19.00 to $20.00 and gave the stock an “underweight” rating in a report on Wednesday, August 28th. Finally, KeyCorp cut shares of Nordstrom from an “overweight” rating to a “sector weight” rating in a report on Thursday, September 26th. Three research analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, Nordstrom presently has an average rating of “Hold” and a consensus target price of $20.33.

Insider Transactions at Nordstrom

In other Nordstrom news, COO Alexis Depree sold 20,000 shares of the company’s stock in a transaction dated 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 sale, the chief operating officer now owns 169,331 shares in the company, valued at $3,928,479.20. This represents a 10.56 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 5.78% of the company’s stock.

Nordstrom Stock Performance

Shares of JWN opened at $22.31 on Tuesday. The firm has a market capitalization of $3.66 billion, a P/E ratio of 13.05 and a beta of 2.59. The company has a debt-to-equity ratio of 2.76, a current ratio of 1.07 and a quick ratio of 0.41. Nordstrom, Inc. has a one year low of $13.68 and a one year high of $24.93. The business has a fifty day moving average of $22.74 and a 200 day moving average of $22.07.

Nordstrom (NYSE:JWN) last released its quarterly earnings results on Tuesday, August 27th. The specialty retailer reported $0.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 previous year, the company posted $0.84 EPS. The business’s quarterly revenue was up 3.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that Nordstrom, Inc. will post 1.91 EPS for the current year.

Nordstrom Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 18th. Shareholders of record on Tuesday, September 3rd were given a $0.19 dividend. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $0.76 annualized dividend and a yield of 3.41%. Nordstrom’s payout ratio is presently 44.44%.

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.