Barington Capital Group L.P. Cuts Stock Holdings in Nordstrom, Inc. (NYSE:JWN)

Barington Capital Group L.P. reduced its stake in Nordstrom, Inc. (NYSE:JWN - Free Report) by 75.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,000 shares of the specialty retailer's stock after selling 30,000 shares during the quarter. Nordstrom comprises approximately 0.2% of Barington Capital Group L.P.'s portfolio, making the stock its 13th biggest holding. Barington Capital Group L.P.'s holdings in Nordstrom were worth $212,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Aveo Capital Partners LLC raised its position in shares of Nordstrom by 11.6% during the 4th quarter. Aveo Capital Partners LLC now owns 57,941 shares of the specialty retailer's stock valued at $1,069,000 after buying an additional 6,013 shares in the last quarter. Norges Bank purchased a new position in shares of Nordstrom in the 4th quarter worth about $23,572,000. Franklin Resources Inc. boosted its holdings in shares of Nordstrom by 24.7% in the 4th quarter. Franklin Resources Inc. now owns 84,039 shares of the specialty retailer's stock worth $1,551,000 after purchasing an additional 16,625 shares in the last quarter. Stephens Inc. AR raised its holdings in shares of Nordstrom by 7.0% during the 4th quarter. Stephens Inc. AR now owns 145,169 shares of the specialty retailer's stock valued at $2,678,000 after buying an additional 9,466 shares in the last quarter. Finally, Schroder Investment Management Group raised its holdings in shares of Nordstrom by 44.9% during the 4th quarter. Schroder Investment Management Group now owns 2,648,637 shares of the specialty retailer's stock valued at $48,867,000 after buying an additional 820,390 shares in the last quarter. 88.73% of the stock is currently owned by institutional investors.

Nordstrom Stock Performance

Shares of JWN stock opened at $22.20 on Friday. The firm has a market capitalization of $3.63 billion, a price-to-earnings ratio of 12.13 and a beta of 2.61. The stock has a fifty day moving average of $22.14 and a 200 day moving average of $21.08. Nordstrom, Inc. has a 52 week low of $12.88 and a 52 week high of $24.03. The company has a quick ratio of 0.41, a current ratio of 1.07 and a debt-to-equity ratio of 2.76.

Nordstrom (NYSE:JWN - Get Free Report) last posted its earnings results on Tuesday, August 27th. The specialty retailer reported $0.96 EPS for the quarter, topping the consensus estimate of $0.71 by $0.25. Nordstrom had a negative net margin of 1.44% and a negative return on equity of 21.26%. The firm had revenue of $3.89 billion during the quarter, compared to analysts' expectations of $3.88 billion. During the same period last year, the company posted $0.84 EPS. The company's quarterly revenue was up 3.2% compared to the same quarter last year. As a group, research analysts expect that Nordstrom, Inc. will post 1.9 earnings per share for the current year.

Nordstrom Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 18th. Stockholders of record on Tuesday, September 3rd were paid a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 3.42%. The ex-dividend date of this dividend was Tuesday, September 3rd. Nordstrom's payout ratio is presently 41.53%.

Insider Activity at Nordstrom

In other Nordstrom news, COO Alexis Depree sold 20,000 shares of the firm's 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 completion of the transaction, the chief operating officer now owns 169,331 shares of the company's stock, valued at $3,928,479.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 5.78% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

JWN has been the topic of a number of recent research reports. BMO Capital Markets increased their price target on shares of Nordstrom from $20.00 to $22.00 and gave the company a "market perform" rating in a research report on Wednesday, August 28th. JPMorgan Chase & Co. lifted their target price on shares of Nordstrom from $19.00 to $20.00 and gave the stock an "underweight" rating in a research report on Wednesday, August 28th. Telsey Advisory Group upped their price target on shares of Nordstrom from $23.00 to $24.00 and gave the company a "market perform" rating in a research report on Wednesday, August 28th. Bank of America raised their price objective on Nordstrom from $18.00 to $20.00 and gave the company an "underperform" rating in a research note on Wednesday, August 28th. Finally, TD Cowen boosted their target price on Nordstrom from $24.00 to $25.00 and gave the company a "hold" rating in a research note on Wednesday, August 28th. Three investment analysts have rated the stock with a sell rating, ten have issued a hold rating and one has given a buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $20.23.

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.

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