Teachers Retirement System of The State of Kentucky Decreases Stock Position in Nordstrom, Inc. (NYSE:JWN)

Teachers Retirement System of The State of Kentucky decreased its holdings in Nordstrom, Inc. (NYSE:JWN - Free Report) by 58.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 38,422 shares of the specialty retailer's stock after selling 55,148 shares during the period. Teachers Retirement System of The State of Kentucky's holdings in Nordstrom were worth $864,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of JWN. Geode Capital Management LLC lifted its position in Nordstrom by 0.3% during the third quarter. Geode Capital Management LLC now owns 1,625,616 shares of the specialty retailer's stock valued at $36,570,000 after purchasing an additional 5,407 shares during the period. MML Investors Services LLC raised its stake in Nordstrom by 24.7% during the 3rd quarter. MML Investors Services LLC now owns 20,097 shares of the specialty retailer's stock valued at $452,000 after buying an additional 3,981 shares during the last quarter. Orion Portfolio Solutions LLC bought a new position in shares of Nordstrom during the 3rd quarter valued at $215,000. XTX Topco Ltd boosted its stake in shares of Nordstrom by 87.9% in the 3rd quarter. XTX Topco Ltd now owns 40,353 shares of the specialty retailer's stock worth $908,000 after buying an additional 18,881 shares during the last quarter. Finally, Whitebox Advisors LLC grew its holdings in shares of Nordstrom by 4.3% in the third quarter. Whitebox Advisors LLC now owns 108,957 shares of the specialty retailer's stock worth $2,450,000 after acquiring an additional 4,500 shares during the period. 88.73% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

JWN has been the topic of a number of recent research reports. UBS Group increased their target price on Nordstrom from $13.00 to $14.50 and gave the company a "sell" rating in a report on Wednesday, November 27th. Barclays raised shares of 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. TD Cowen upped their target price on shares of Nordstrom from $24.00 to $25.00 and gave the company a "hold" rating in a report on Wednesday, August 28th. Evercore ISI lifted their price target on shares of Nordstrom from $20.00 to $22.00 and gave the stock an "in-line" rating in a research note on Wednesday, November 27th. Finally, StockNews.com lowered Nordstrom from a "strong-buy" rating to a "buy" rating in a research note on Thursday, December 5th. 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 stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $21.29.

Insider Buying and Selling at Nordstrom

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

Nordstrom Price Performance

JWN stock traded up $1.17 during midday trading on Thursday, hitting $24.06. The company's stock had a trading volume of 3,197,142 shares, compared to its average volume of 3,014,603. 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, Inc. has a 12 month low of $16.63 and a 12 month high of $24.99. The company has a 50 day moving average of $23.10 and a two-hundred day moving average of $22.40. The firm has a market capitalization of $3.97 billion, a price-to-earnings ratio of 15.32 and a beta of 2.56.

Nordstrom (NYSE:JWN - Get Free Report) last posted its earnings results on Tuesday, November 26th. The specialty retailer reported $0.33 earnings per share for the quarter, beating the consensus estimate of $0.22 by $0.11. The company had revenue of $3.35 billion during the quarter, compared to analysts' expectations of $3.34 billion. Nordstrom had a negative net margin of 1.57% and a negative return on equity of 18.04%. Nordstrom's quarterly revenue was up 4.6% on a year-over-year basis. During the same period last year, the company posted $0.25 earnings per share. On average, analysts expect 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. Investors of record on Tuesday, December 3rd were paid a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 3.16%. The ex-dividend date was Tuesday, December 3rd. Nordstrom's payout ratio is presently 48.41%.

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.