Teachers Retirement System of The State of Kentucky Decreases Position in Nordstrom, Inc. (NYSE:JWN)

Teachers Retirement System of The State of Kentucky reduced its position in shares of Nordstrom, Inc. (NYSE:JWN) by 58.9% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 38,422 shares of the specialty retailer’s stock after selling 55,148 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Nordstrom were worth $864,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in JWN. Victory Capital Management Inc. boosted its stake in shares of Nordstrom by 1.7% in the second quarter. Victory Capital Management Inc. now owns 3,371,988 shares of the specialty retailer’s stock worth $71,554,000 after acquiring an additional 57,546 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in Nordstrom by 4.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,136,639 shares of the specialty retailer’s stock valued at $66,557,000 after purchasing an additional 137,094 shares in the last quarter. American Century Companies Inc. boosted its stake in Nordstrom by 66.2% during the 2nd quarter. American Century Companies Inc. now owns 1,661,227 shares of the specialty retailer’s stock worth $35,251,000 after purchasing an additional 661,769 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Nordstrom by 0.3% during the third quarter. Geode Capital Management LLC now owns 1,625,616 shares of the specialty retailer’s stock worth $36,570,000 after buying an additional 5,407 shares in the last quarter. Finally, Marshall Wace LLP lifted its stake in shares of Nordstrom by 38.4% in the second quarter. Marshall Wace LLP now owns 1,479,414 shares of the specialty retailer’s stock worth $31,393,000 after buying an additional 410,152 shares in the last quarter. Institutional investors and hedge funds own 88.73% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. BMO Capital Markets upped their price objective on shares of Nordstrom from $20.00 to $22.00 and gave the company a “market perform” rating in a research note on Wednesday, August 28th. Evercore ISI increased their price target on Nordstrom from $20.00 to $22.00 and gave the company an “in-line” rating in a report on Wednesday, November 27th. JPMorgan Chase & Co. upped their target price on Nordstrom from $19.00 to $20.00 and gave the company an “underweight” rating in a report on Wednesday, August 28th. TD Cowen lifted their price target on Nordstrom from $24.00 to $25.00 and gave the stock a “hold” rating in a report on Wednesday, August 28th. Finally, Citigroup boosted their price target on shares of Nordstrom from $22.00 to $23.00 and gave the company a “neutral” rating in a research report on Tuesday, November 19th. Three analysts have rated the stock with a sell rating, ten have issued a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $21.29.

Nordstrom Price Performance

Nordstrom stock opened at $22.89 on Thursday. The company’s 50 day simple moving average is $23.10 and its 200-day simple moving average is $22.40. The company has a debt-to-equity ratio of 2.65, a quick ratio of 0.35 and a current ratio of 1.14. Nordstrom, Inc. has a 1 year low of $16.63 and a 1 year high of $24.99. The company has a market capitalization of $3.77 billion, a price-to-earnings ratio of 14.58 and a beta of 2.56.

Nordstrom (NYSE:JWN) last announced its earnings results on Tuesday, November 26th. The specialty retailer reported $0.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.22 by $0.11. Nordstrom had a negative return on equity of 18.04% and a negative net margin of 1.57%. The company had revenue of $3.35 billion for the quarter, compared to analyst estimates of $3.34 billion. During the same quarter in the previous year, the company earned $0.25 earnings per share. The firm’s quarterly revenue was up 4.6% compared to the same quarter last year. As a group, equities research analysts expect that Nordstrom, Inc. will post 1.94 earnings per share for the current year.

Nordstrom Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 18th. Investors of record on Tuesday, December 3rd were issued a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 3.32%. The ex-dividend date of this dividend was Tuesday, December 3rd. Nordstrom’s dividend payout ratio (DPR) is 48.41%.

Insider Buying and Selling at Nordstrom

In other Nordstrom news, COO Alexis Depree sold 20,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 24th. The shares were sold at an average price of $23.20, for a total value of $464,000.00. Following the completion of the transaction, the chief operating officer now owns 169,331 shares of the company’s stock, valued at $3,928,479.20. This trade represents a 10.56 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 5.78% of the stock is currently owned by corporate insiders.

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.