Point72 Asset Management L.P. Purchases 39,104 Shares of Nordstrom, Inc. (NYSE:JWN)

Point72 Asset Management L.P. boosted its holdings in Nordstrom, Inc. (NYSE:JWN - Free Report) by 190.1% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 59,678 shares of the specialty retailer's stock after acquiring an additional 39,104 shares during the quarter. Point72 Asset Management L.P.'s holdings in Nordstrom were worth $1,342,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Charles Schwab Investment Management Inc. lifted its holdings in shares of Nordstrom by 17.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,422,856 shares of the specialty retailer's stock valued at $32,000,000 after purchasing an additional 208,193 shares in the last quarter. Cyndeo Wealth Partners LLC purchased a new position in Nordstrom in the 3rd quarter worth about $6,248,000. Olympiad Research LP bought a new position in Nordstrom during the 3rd quarter valued at about $508,000. Point72 DIFC Ltd purchased a new stake in shares of Nordstrom during the 2nd quarter valued at about $1,174,000. Finally, American Century Companies Inc. boosted its holdings in shares of Nordstrom by 66.2% during the 2nd quarter. American Century Companies Inc. now owns 1,661,227 shares of the specialty retailer's stock valued at $35,251,000 after acquiring an additional 661,769 shares during the last quarter. 88.73% of the stock is owned by institutional investors.

Analyst Ratings Changes

JWN has been the topic of a number of research analyst reports. JPMorgan Chase & Co. increased their price objective on shares of Nordstrom from $19.00 to $20.00 and gave the company an "underweight" rating in a research report on Wednesday, August 28th. TD Cowen increased their price target on Nordstrom from $24.00 to $25.00 and gave the company a "hold" rating in a report on Wednesday, August 28th. UBS Group lifted their price objective on Nordstrom from $13.00 to $14.50 and gave the stock a "sell" rating in a report on Wednesday, November 27th. Evercore ISI upped their price objective on Nordstrom from $20.00 to $22.00 and gave the company an "in-line" rating in a research report on Wednesday, November 27th. Finally, KeyCorp cut Nordstrom from an "overweight" rating to a "sector weight" rating in a research report on Thursday, September 26th. Three equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and one has assigned a buy rating to the company's stock. According to MarketBeat, Nordstrom has an average rating of "Hold" and an average price target of $21.29.

Insider Buying and Selling

In related news, COO Alexis Depree sold 20,000 shares of the company's stock in a transaction on Tuesday, September 24th. The shares were sold at an average price of $23.20, for a total transaction of $464,000.00. Following the completion of the transaction, the chief operating officer now owns 169,331 shares in the company, valued at approximately $3,928,479.20. This represents a 10.56 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 5.78% of the stock is currently owned by company insiders.

Nordstrom Stock Performance

Nordstrom stock remained flat at $22.96 during midday trading on Wednesday. 2,015,501 shares of the company traded hands, compared to its average volume of 3,038,413. The company has a quick ratio of 0.35, a current ratio of 1.14 and a debt-to-equity ratio of 2.65. Nordstrom, Inc. has a one year low of $15.97 and a one year high of $24.99. The stock has a market capitalization of $3.79 billion, a P/E ratio of 14.62 and a beta of 2.56. The stock has a 50-day moving average of $22.98 and a two-hundred day moving average of $22.35.

Nordstrom (NYSE:JWN - Get Free Report) last announced its quarterly earnings data on Tuesday, November 26th. The specialty retailer reported $0.33 EPS for the quarter, beating the consensus estimate of $0.22 by $0.11. The firm had revenue of $3.35 billion for the quarter, compared to the consensus estimate of $3.34 billion. Nordstrom had a negative net margin of 1.57% and a negative return on equity of 18.04%. The company's revenue was up 4.6% on a year-over-year basis. During the same period last year, the firm earned $0.25 EPS. As a group, equities research analysts predict that Nordstrom, Inc. will post 1.93 earnings per share for the current fiscal year.

Nordstrom Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders 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 dividend yield of 3.31%. The ex-dividend date of this dividend is Tuesday, December 3rd. Nordstrom's dividend payout ratio (DPR) is 48.41%.

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.