Wedge Capital Management L L P NC Sells 39,243 Shares of Nordstrom, Inc. (NYSE:JWN)

Wedge Capital Management L L P NC lessened its stake in shares of Nordstrom, Inc. (NYSE:JWN - Free Report) by 33.6% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 77,643 shares of the specialty retailer's stock after selling 39,243 shares during the period. Wedge Capital Management L L P NC's holdings in Nordstrom were worth $1,648,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Norges Bank acquired a new position in shares of Nordstrom during the 4th quarter worth approximately $23,572,000. Capstone Investment Advisors LLC raised its position in Nordstrom by 185.0% during the first quarter. Capstone Investment Advisors LLC now owns 211,471 shares of the specialty retailer's stock worth $4,287,000 after acquiring an additional 137,271 shares in the last quarter. Boulder Hill Capital Management LP bought a new stake in Nordstrom during the fourth quarter worth $2,065,000. Jump Financial LLC lifted its stake in Nordstrom by 83.9% in the fourth quarter. Jump Financial LLC now owns 150,200 shares of the specialty retailer's stock valued at $2,771,000 after acquiring an additional 68,529 shares during the last quarter. Finally, Nomura Holdings Inc. grew its position in shares of Nordstrom by 152.2% in the 4th quarter. Nomura Holdings Inc. now owns 169,604 shares of the specialty retailer's stock valued at $3,129,000 after acquiring an additional 102,361 shares during the period. 88.73% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have recently issued reports on JWN. Bank of America upped their target price on shares of Nordstrom from $15.00 to $18.00 and gave the company an "underperform" rating in a report on Friday, May 31st. Telsey Advisory Group raised their price objective on Nordstrom from $19.00 to $23.00 and gave the company a "market perform" rating in a research report on Tuesday, July 9th. Evercore ISI lifted their target price on Nordstrom from $17.00 to $19.00 and gave the stock an "in-line" rating in a research note on Friday, May 31st. Barclays increased their price target on Nordstrom from $15.00 to $18.00 and gave the company an "underweight" rating in a research note on Friday, May 31st. Finally, StockNews.com raised shares of Nordstrom from a "hold" rating to a "buy" rating in a research report on Thursday, August 8th. Five equities research analysts have rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $17.75.

Nordstrom Stock Performance

Shares of Nordstrom stock traded up $0.29 during trading on Friday, reaching $22.78. The company's stock had a trading volume of 2,128,665 shares, compared to its average volume of 3,377,741. The company has a quick ratio of 0.36, a current ratio of 1.03 and a debt-to-equity ratio of 3.13. The business's 50-day moving average price is $21.85 and its 200-day moving average price is $20.45. Nordstrom, Inc. has a 52 week low of $12.88 and a 52 week high of $24.03. The firm has a market cap of $3.73 billion, a PE ratio of 12.37, a P/E/G ratio of 2.55 and a beta of 2.62.

Nordstrom (NYSE:JWN - Get Free Report) last issued its quarterly earnings data on Thursday, May 30th. The specialty retailer reported ($0.24) earnings per share for the quarter, missing the consensus estimate of ($0.08) by ($0.16). Nordstrom had a negative return on equity of 26.45% and a negative net margin of 1.35%. The business had revenue of $3.34 billion during the quarter, compared to analyst estimates of $3.19 billion. During the same quarter last year, the firm earned $0.07 EPS. Nordstrom's revenue for the quarter was up 4.8% compared to the same quarter last year. Equities analysts forecast that Nordstrom, Inc. will post 1.79 earnings per share for the current year.

Nordstrom Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 19th. Shareholders of record on Tuesday, June 4th were paid a dividend of $0.19 per share. The ex-dividend date of this dividend was Tuesday, June 4th. This represents a $0.76 dividend on an annualized basis and a yield of 3.34%. Nordstrom's dividend payout ratio (DPR) is presently 41.53%.

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.