Royce & Associates LP Sells 509,220 Shares of Nordstrom, Inc. (NYSE:JWN)

Royce & Associates LP lowered its holdings in Nordstrom, Inc. (NYSE:JWN - Free Report) by 80.1% 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 126,590 shares of the specialty retailer's stock after selling 509,220 shares during the period. Royce & Associates LP owned about 0.08% of Nordstrom worth $2,847,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Venturi Wealth Management LLC grew its stake in shares of Nordstrom by 355.9% in the third quarter. Venturi Wealth Management LLC now owns 1,272 shares of the specialty retailer's stock valued at $29,000 after buying an additional 993 shares in the last quarter. Atlas Capital Advisors LLC raised its holdings in shares of Nordstrom by 101.8% in the 2nd quarter. Atlas Capital Advisors LLC now owns 1,491 shares of the specialty retailer's stock valued at $32,000 after purchasing an additional 752 shares during the period. Rothschild Investment LLC acquired a new stake in Nordstrom in the 2nd quarter valued at about $39,000. Blue Trust Inc. grew its holdings in Nordstrom by 10,045.8% during the second quarter. Blue Trust Inc. now owns 2,435 shares of the specialty retailer's stock worth $49,000 after purchasing an additional 2,411 shares during the period. Finally, Point72 Hong Kong Ltd bought a new position in Nordstrom during the second quarter worth about $71,000. Institutional investors own 88.73% of the company's stock.

Nordstrom Stock Up 1.6 %

JWN stock traded up $0.36 during mid-day trading on Tuesday, reaching $22.66. 1,373,482 shares of the company traded hands, compared to its average volume of 3,047,279. Nordstrom, Inc. has a fifty-two week low of $13.68 and a fifty-two week high of $24.93. The firm's 50 day moving average price is $22.74 and its 200 day moving average price is $22.09. The company has a quick ratio of 0.41, a current ratio of 1.07 and a debt-to-equity ratio of 2.76. The stock has a market cap of $3.72 billion, a price-to-earnings ratio of 13.25 and a beta of 2.59.

Nordstrom (NYSE:JWN - Get Free Report) last released its earnings results on Tuesday, August 27th. The specialty retailer reported $0.96 earnings per share for the quarter, beating analysts' consensus estimates 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 the consensus estimate of $3.88 billion. During the same period in the prior year, the firm earned $0.84 EPS. The company's revenue was up 3.2% compared to the same quarter last year. As a group, equities research analysts predict that Nordstrom, Inc. will post 1.91 EPS for the current fiscal year.

Nordstrom Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 18th. Stockholders of record on Tuesday, September 3rd were paid a dividend of $0.19 per share. The ex-dividend date was Tuesday, September 3rd. This represents a $0.76 annualized dividend and a dividend yield of 3.35%. Nordstrom's payout ratio is 44.44%.

Insider Activity

In other Nordstrom news, COO Alexis Depree sold 20,000 shares of the firm's stock in a transaction on Tuesday, September 24th. The shares were sold at an average price of $23.20, for a total value of $464,000.00. Following the completion of the transaction, the chief operating officer now directly owns 169,331 shares of the company's stock, valued at $3,928,479.20. This trade represents a 10.56 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 5.78% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on JWN shares. TD Cowen lifted their price objective on shares of Nordstrom from $24.00 to $25.00 and gave the stock a "hold" rating in a research report on Wednesday, August 28th. JPMorgan Chase & Co. lifted their price objective on shares of Nordstrom from $19.00 to $20.00 and gave the stock an "underweight" rating in a research note on Wednesday, August 28th. Telsey Advisory Group boosted their price objective on shares of Nordstrom from $23.00 to $24.00 and gave the company a "market perform" rating in a report on Wednesday, August 28th. KeyCorp cut shares of Nordstrom from an "overweight" rating to a "sector weight" rating in a report on Thursday, September 26th. Finally, Bank of America increased their target price on Nordstrom from $18.00 to $20.00 and gave the stock an "underperform" rating in a report on Wednesday, August 28th. Three equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has given a buy rating to the company. According to data from MarketBeat, Nordstrom has an average rating of "Hold" and an average target price of $20.58.

Nordstrom Company 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.