Principal Financial Group Inc. Decreases Holdings in Nordstrom, Inc. (NYSE:JWN)

Principal Financial Group Inc. lowered its position in shares of Nordstrom, Inc. (NYSE:JWN - Free Report) by 31.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 223,659 shares of the specialty retailer's stock after selling 102,692 shares during the period. Principal Financial Group Inc. owned 0.14% of Nordstrom worth $5,030,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Quantinno Capital Management LP raised its holdings in Nordstrom by 49.3% during the third quarter. Quantinno Capital Management LP now owns 145,146 shares of the specialty retailer's stock worth $3,264,000 after purchasing an additional 47,923 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Nordstrom by 17.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,422,856 shares of the specialty retailer's stock valued at $32,000,000 after buying an additional 208,193 shares during the last quarter. Point72 Asset Management L.P. raised its stake in Nordstrom by 190.1% during the 3rd quarter. Point72 Asset Management L.P. now owns 59,678 shares of the specialty retailer's stock worth $1,342,000 after acquiring an additional 39,104 shares in the last quarter. Sanctuary Advisors LLC lifted its position in Nordstrom by 160.9% in the third quarter. Sanctuary Advisors LLC now owns 51,071 shares of the specialty retailer's stock valued at $1,187,000 after acquiring an additional 31,498 shares during the last quarter. Finally, Cyndeo Wealth Partners LLC acquired a new position in Nordstrom in the third quarter valued at $6,248,000. Hedge funds and other institutional investors own 88.73% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on JWN. Argus cut Nordstrom from a "buy" rating to a "sell" rating in a research report on Monday. Citigroup lifted their price target on Nordstrom from $22.00 to $23.00 and gave the stock a "neutral" rating in a research report on Tuesday, November 19th. Telsey Advisory Group decreased their price objective on Nordstrom from $26.00 to $24.00 and set a "market perform" rating for the company in a report on Tuesday, December 24th. Barclays raised shares of Nordstrom from an "underweight" rating to an "equal weight" rating and lifted their target price for the company from $18.00 to $23.00 in a report on Thursday, September 5th. Finally, KeyCorp cut shares of Nordstrom from an "overweight" rating to a "sector weight" rating in a research note on Thursday, September 26th. Four analysts have rated the stock with a sell rating, ten have given a hold rating and one has issued a buy rating to the company's stock. Based on data from MarketBeat.com, Nordstrom currently has a consensus rating of "Hold" and an average price target of $21.13.

Nordstrom Trading Up 0.1 %

Shares of NYSE:JWN traded up $0.02 during midday trading on Friday, reaching $24.17. The company's stock had a trading volume of 4,662,905 shares, compared to its average volume of 4,469,553. The business has a 50 day moving average price of $23.30 and a 200 day moving average price of $22.61. Nordstrom, Inc. has a 1 year low of $16.63 and a 1 year high of $24.99. The firm has a market cap of $3.99 billion, a price-to-earnings ratio of 15.40 and a beta of 2.56. 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 (NYSE:JWN - Get Free Report) last posted its quarterly earnings data on Tuesday, November 26th. The specialty retailer reported $0.33 EPS for the quarter, beating analysts' consensus estimates of $0.22 by $0.11. Nordstrom had a negative net margin of 1.57% and a negative return on equity of 18.04%. The company had revenue of $3.35 billion during the quarter, compared to the consensus estimate of $3.34 billion. During the same quarter in the prior year, the company posted $0.25 EPS. The company's quarterly revenue was up 4.6% compared to the same quarter last year. Research analysts forecast that Nordstrom, Inc. will post 1.94 EPS for the current year.

Nordstrom Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, December 18th. Shareholders of record on Tuesday, December 3rd were given a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 3.14%. The ex-dividend date of this dividend was Tuesday, December 3rd. Nordstrom's dividend payout ratio (DPR) is presently 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.