BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp reduced its stake in shares of Nordstrom, Inc. (NYSE:JWN) by 32.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 80,343 shares of the specialty retailer’s stock after selling 37,933 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Nordstrom were worth $3,745,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently modified their holdings of JWN. Oregon Public Employees Retirement Fund raised its position in Nordstrom by 4,156.2% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 2,898,862 shares of the specialty retailer’s stock worth $62,000 after acquiring an additional 2,830,753 shares in the last quarter. We Are One Seven LLC bought a new stake in Nordstrom in the fourth quarter worth about $92,000. Quantamental Technologies LLC bought a new stake in Nordstrom in the fourth quarter worth about $97,000. Federated Investors Inc. PA raised its position in Nordstrom by 22.4% in the third quarter. Federated Investors Inc. PA now owns 1,639 shares of the specialty retailer’s stock worth $98,000 after acquiring an additional 300 shares in the last quarter. Finally, Captrust Financial Advisors raised its position in Nordstrom by 426.1% in the third quarter. Captrust Financial Advisors now owns 2,099 shares of the specialty retailer’s stock worth $126,000 after acquiring an additional 1,700 shares in the last quarter. Institutional investors and hedge funds own 60.50% of the company’s stock.
Shares of JWN opened at $44.46 on Friday. The stock has a market capitalization of $7.44 billion, a P/E ratio of 12.52, a P/E/G ratio of 1.97 and a beta of 0.54. Nordstrom, Inc. has a 1-year low of $43.04 and a 1-year high of $67.75. The company has a debt-to-equity ratio of 3.07, a quick ratio of 0.41 and a current ratio of 1.00.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 26th. Investors of record on Monday, March 11th will be paid a $0.37 dividend. The ex-dividend date of this dividend is Friday, March 8th. This represents a $1.48 dividend on an annualized basis and a yield of 3.33%. Nordstrom’s dividend payout ratio is currently 41.69%.
In related news, insider Erik B. Nordstrom sold 1,169 shares of Nordstrom stock in a transaction dated Monday, February 25th. The stock was sold at an average price of $44.70, for a total value of $52,254.30. Following the transaction, the insider now owns 2,671,406 shares of the company’s stock, valued at approximately $119,411,848.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Erik B. Nordstrom sold 17,762 shares of Nordstrom stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $44.07, for a total value of $782,771.34. Following the completion of the transaction, the insider now directly owns 2,653,314 shares in the company, valued at approximately $116,931,547.98. The disclosure for this sale can be found here. Company insiders own 7.05% of the company’s stock.
JWN has been the topic of several research reports. Zacks Investment Research cut shares of Nordstrom from a “buy” rating to a “hold” rating in a research report on Monday, November 19th. Guggenheim reiterated a “hold” rating on shares of Nordstrom in a research report on Thursday, November 15th. JPMorgan Chase & Co. cut shares of Nordstrom from a “neutral” rating to an “underweight” rating in a research report on Wednesday, January 16th. Wolfe Research reiterated a “peer perform” rating and issued a $44.00 price target (down from $53.00) on shares of Nordstrom in a research report on Thursday, January 17th. Finally, Piper Jaffray Companies set a $44.00 price target on shares of Nordstrom and gave the stock a “hold” rating in a research report on Friday, March 1st. Three investment analysts have rated the stock with a sell rating, fourteen have given a hold rating and four have assigned a buy rating to the stock. Nordstrom presently has an average rating of “Hold” and a consensus price target of $52.79.
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Nordstrom Company Profile
Nordstrom, Inc, a fashion retailer, provides apparel, shoes, cosmetics, and accessories for women, men, young adults, and children. The company operates in two segments, Retail and Credit. The Retail segment offers a range of brand name and private label merchandise through various channels, including Nordstrom branded full-line stores and online store at Nordstrom.com; Nordstrom Rack stores; Nordstromrack.com and HauteLook; Trunk Club clubhouses and TrunkClub.com; Jeffrey boutiques; and clearance stores that operate under the Last Chance name.
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