Thrivent Financial for Lutherans Trims Stock Position in Nordstrom, Inc. (NYSE:JWN)

Thrivent Financial for Lutherans trimmed its position in shares of Nordstrom, Inc. (NYSE:JWN - Free Report) by 76.3% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 22,885 shares of the specialty retailer's stock after selling 73,527 shares during the quarter. Thrivent Financial for Lutherans' holdings in Nordstrom were worth $515,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in JWN. American Century Companies Inc. boosted its holdings 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 valued at $35,251,000 after acquiring an additional 661,769 shares during the period. Marshall Wace LLP boosted its stake in shares of Nordstrom by 38.4% during the second quarter. Marshall Wace LLP now owns 1,479,414 shares of the specialty retailer's stock valued at $31,393,000 after purchasing an additional 410,152 shares during the period. NewSquare Capital LLC bought a new position in shares of Nordstrom in the second quarter worth about $7,783,000. Axiom Advisory LLC increased its stake in Nordstrom by 46.0% in the 3rd quarter. Axiom Advisory LLC now owns 1,100,864 shares of the specialty retailer's stock worth $24,456,000 after buying an additional 346,994 shares during the period. Finally, Ceredex Value Advisors LLC bought a new stake in Nordstrom during the 2nd quarter valued at about $7,310,000. Hedge funds and other institutional investors own 88.73% of the company's stock.

Nordstrom Stock Down 1.2 %

NYSE:JWN traded down $0.29 during midday trading on Friday, reaching $23.17. 1,001,967 shares of the stock traded hands, compared to its average volume of 3,043,651. The business has a 50-day moving average of $22.90 and a two-hundred day moving average of $22.30. 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 12-month low of $15.12 and a 12-month high of $24.99. The stock has a market capitalization of $3.80 billion, a PE ratio of 14.95 and a beta of 2.56.

Nordstrom (NYSE:JWN - Get Free Report) last issued 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. Nordstrom had a negative return on equity of 18.04% and a negative net margin of 1.57%. The firm had revenue of $3.35 billion during the quarter, compared to analyst estimates of $3.34 billion. During the same quarter in the prior year, the business posted $0.25 EPS. The business's revenue for the quarter was up 4.6% compared to the same quarter last year. On average, equities analysts forecast that Nordstrom, Inc. will post 1.93 earnings per share for the current fiscal year.

Nordstrom Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Tuesday, December 3rd will be issued a dividend of $0.19 per share. The ex-dividend date of this dividend is Tuesday, December 3rd. This represents a $0.76 annualized dividend and a dividend yield of 3.28%. Nordstrom's dividend payout ratio (DPR) is currently 48.41%.

Insider Activity at Nordstrom

In other Nordstrom news, COO Alexis Depree sold 20,000 shares of the business's stock in a transaction dated Tuesday, September 24th. The stock was sold at an average price of $23.20, for a total transaction of $464,000.00. Following the sale, the chief operating officer now owns 169,331 shares in the company, valued at approximately $3,928,479.20. The trade was a 10.56 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 5.78% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

JWN has been the topic of a number of research analyst reports. Bank of America upped their target price 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. Barclays upgraded Nordstrom from an "underweight" rating to an "equal weight" rating and raised their price objective for the stock from $18.00 to $23.00 in a report on Thursday, September 5th. Citigroup upped their target price on Nordstrom from $22.00 to $23.00 and gave the stock a "neutral" rating in a report on Tuesday, November 19th. StockNews.com lowered Nordstrom from a "strong-buy" rating to a "buy" rating in a research note on Thursday. Finally, Telsey Advisory Group lifted their price objective on Nordstrom from $24.00 to $26.00 and gave the company a "market perform" rating in a report on Wednesday, November 27th. Three investment 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.com, Nordstrom presently has a consensus rating of "Hold" and an average target price of $21.29.

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.