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

Bank of New York Mellon Corp reduced its position in Nordstrom, Inc. (NYSE:JWN - Free Report) by 13.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,332,677 shares of the specialty retailer's stock after selling 214,029 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.81% of Nordstrom worth $32,184,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Creative Planning raised its stake in Nordstrom by 22.9% during the 3rd quarter. Creative Planning now owns 12,025 shares of the specialty retailer's stock valued at $270,000 after purchasing an additional 2,238 shares during the period. State of Alaska Department of Revenue grew its holdings in Nordstrom by 7.3% during the 3rd quarter. State of Alaska Department of Revenue now owns 11,236 shares of the specialty retailer's stock valued at $252,000 after buying an additional 760 shares in the last quarter. Janney Montgomery Scott LLC raised its position in shares of Nordstrom by 314.8% during the third quarter. Janney Montgomery Scott LLC now owns 55,316 shares of the specialty retailer's stock valued at $1,244,000 after buying an additional 41,981 shares during the last quarter. Covestor Ltd lifted its holdings in shares of Nordstrom by 69.2% in the third quarter. Covestor Ltd now owns 13,428 shares of the specialty retailer's stock worth $302,000 after buying an additional 5,494 shares in the last quarter. Finally, Crossmark Global Holdings Inc. purchased a new position in shares of Nordstrom in the third quarter worth $835,000. 88.73% of the stock is owned by hedge funds and other institutional investors.

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Wall Street Analyst Weigh In

A number of analysts have issued reports on JWN shares. Argus downgraded shares of Nordstrom from a "buy" rating to a "sell" rating in a report on Monday, December 30th. Bank of America lifted their target price on Nordstrom from $20.00 to $22.00 and gave the stock an "underperform" rating in a report on Wednesday, November 27th. Telsey Advisory Group reissued a "market perform" rating and set a $24.00 price target on shares of Nordstrom in a research note on Wednesday, March 5th. Citigroup lifted their price objective on Nordstrom from $22.00 to $23.00 and gave the stock a "neutral" rating in a research note on Tuesday, November 19th. Finally, Barclays upped their price objective on Nordstrom from $23.00 to $24.00 and gave the stock an "equal weight" rating in a report on Thursday, January 16th. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and one has issued a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $22.90.

Nordstrom Trading Down 0.1 %

NYSE:JWN traded down $0.02 during midday trading on Wednesday, hitting $24.22. 3,360,993 shares of the company traded hands, compared to its average volume of 2,372,138. The firm has a market capitalization of $4.00 billion, a P/E ratio of 15.42 and a beta of 2.60. The firm's fifty day moving average is $24.25 and its 200-day moving average is $23.39. Nordstrom, Inc. has a 12-month low of $16.78 and a 12-month high of $24.99. The company has a current ratio of 1.14, a quick ratio of 0.35 and a debt-to-equity ratio of 2.65.

Nordstrom (NYSE:JWN - Get Free Report) last announced its earnings results on Tuesday, March 4th. The specialty retailer reported $1.10 earnings per share for the quarter, beating the consensus estimate 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 business had revenue of $4.32 billion for the quarter, compared to the consensus estimate of $4.32 billion. On average, sell-side analysts predict that Nordstrom, Inc. will post 1.97 EPS for the current year.

Nordstrom Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 26th. Shareholders of record on Tuesday, March 11th will be paid a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 3.14%. The ex-dividend date is Tuesday, March 11th. Nordstrom's payout ratio is currently 44.19%.

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.