BNP Paribas Financial Markets Sells 118,492 Shares of Nordstrom, Inc. (NYSE:JWN)

BNP Paribas Financial Markets trimmed its stake in Nordstrom, Inc. (NYSE:JWN - Free Report) by 51.8% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 110,412 shares of the specialty retailer's stock after selling 118,492 shares during the quarter. BNP Paribas Financial Markets owned approximately 0.07% of Nordstrom worth $2,483,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the company. Tidal Investments LLC acquired a new stake in shares of Nordstrom during the 1st quarter worth $419,000. Comerica Bank grew its holdings in shares of Nordstrom by 59.9% during the 1st quarter. Comerica Bank now owns 75,806 shares of the specialty retailer's stock valued at $1,537,000 after purchasing an additional 28,411 shares during the last quarter. Wedmont Private Capital acquired a new position in Nordstrom during the 2nd quarter worth approximately $250,000. Blue Trust Inc. lifted its stake in Nordstrom by 10,045.8% in the 2nd quarter. Blue Trust Inc. now owns 2,435 shares of the specialty retailer's stock valued at $49,000 after purchasing an additional 2,411 shares during the last quarter. Finally, Raymond James & Associates boosted its position in Nordstrom by 2.0% in the second quarter. Raymond James & Associates now owns 91,157 shares of the specialty retailer's stock valued at $1,934,000 after buying an additional 1,747 shares in the last quarter. 88.73% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on JWN shares. Evercore ISI raised their price objective on Nordstrom from $20.00 to $22.00 and gave the company an "in-line" rating in a report on Wednesday, November 27th. Bank of America boosted their price objective 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. UBS Group upped their price target on Nordstrom from $13.00 to $14.50 and gave the company a "sell" rating in a research report on Wednesday, November 27th. KeyCorp downgraded shares of Nordstrom from an "overweight" rating to a "sector weight" rating in a research report on Thursday, September 26th. Finally, TD Cowen upped their target price on Nordstrom from $24.00 to $25.00 and gave the company a "hold" rating in a research report on Wednesday, August 28th. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $21.29.

Insider Buying and Selling at Nordstrom

In other news, COO Alexis Depree sold 20,000 shares of the stock in a transaction on Tuesday, September 24th. The stock was sold at an average price of $23.20, for a total transaction of $464,000.00. Following the transaction, the chief operating officer now directly owns 169,331 shares of the company's stock, valued at $3,928,479.20. This represents a 10.56 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 5.78% of the company's stock.

Nordstrom Price Performance

NYSE JWN traded down $0.27 on Friday, reaching $23.19. 2,047,537 shares of the company's stock traded hands, compared to its average volume of 2,311,537. The stock has a market cap of $3.81 billion, a PE ratio of 14.78 and a beta of 2.56. The stock has a 50-day simple moving average of $22.92 and a 200 day simple moving average of $22.31. Nordstrom, Inc. has a 12 month low of $15.12 and a 12 month high of $24.99. The company has a debt-to-equity ratio of 2.65, a current ratio of 1.14 and a quick ratio of 0.35.

Nordstrom (NYSE:JWN - Get Free Report) last announced its quarterly earnings results on Tuesday, November 26th. The specialty retailer reported $0.33 EPS for the quarter, topping 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 business had revenue of $3.35 billion for the quarter, compared to analysts' expectations of $3.34 billion. During the same period in the previous year, the firm earned $0.25 EPS. The business's quarterly revenue was up 4.6% on a year-over-year basis. As a group, research analysts predict that Nordstrom, Inc. will post 1.93 earnings per share for the current year.

Nordstrom Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Tuesday, December 3rd will be paid a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 3.28%. The ex-dividend date of this dividend is Tuesday, December 3rd. Nordstrom's payout ratio is currently 48.41%.

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.