Raymond James Financial Services Advisors Inc. Sells 3,904 Shares of Nordstrom, Inc. (NYSE:JWN)

Raymond James Financial Services Advisors Inc. trimmed its position in shares of Nordstrom, Inc. (NYSE:JWN) by 28.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 10,026 shares of the specialty retailer’s stock after selling 3,904 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in Nordstrom were worth $185,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in JWN. DekaBank Deutsche Girozentrale acquired a new stake in Nordstrom during the third quarter valued at approximately $45,000. Impact Partnership Wealth LLC bought a new stake in shares of Nordstrom during the 3rd quarter valued at $115,000. Rowlandmiller & PARTNERS.ADV bought a new stake in shares of Nordstrom during the 4th quarter valued at $119,000. Gallacher Capital Management LLC bought a new stake in shares of Nordstrom during the 3rd quarter valued at $166,000. Finally, AE Wealth Management LLC bought a new stake in shares of Nordstrom in the 3rd quarter valued at $168,000. 88.73% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

JWN has been the subject of a number of research analyst reports. Barclays upped their target price on shares of Nordstrom from $14.00 to $15.00 and gave the stock an “underweight” rating in a research note on Wednesday, March 6th. JPMorgan Chase & Co. raised their target price on shares of Nordstrom from $14.00 to $15.00 and gave the stock an “underweight” rating in a report on Wednesday, March 6th. Citigroup reduced their price target on shares of Nordstrom from $21.00 to $20.00 and set a “neutral” rating on the stock in a research report on Wednesday, March 6th. Bank of America raised their target price on shares of Nordstrom from $13.00 to $15.00 and gave the company an “underperform” rating in a research report on Wednesday, March 6th. Finally, Piper Sandler lifted their price target on shares of Nordstrom from $17.00 to $20.00 and gave the stock a “neutral” rating in a report on Wednesday, March 6th. Five investment analysts have rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $16.54.

Nordstrom Trading Down 2.4 %

NYSE:JWN opened at $19.24 on Thursday. Nordstrom, Inc. has a one year low of $12.88 and a one year high of $23.53. The company has a market cap of $3.14 billion, a PE ratio of 24.05, a PEG ratio of 2.13 and a beta of 2.59. The firm has a 50-day moving average of $19.22 and a 200-day moving average of $17.48. The company has a debt-to-equity ratio of 3.08, a current ratio of 1.02 and a quick ratio of 0.41.

Nordstrom (NYSE:JWN) last released its quarterly earnings results on Tuesday, March 5th. The specialty retailer reported $0.96 earnings per share for the quarter, topping the consensus estimate of $0.90 by $0.06. Nordstrom had a net margin of 0.91% and a return on equity of 49.30%. The business had revenue of $4.29 billion for the quarter, compared to analysts’ expectations of $4.38 billion. During the same period in the previous year, the company earned $0.74 earnings per share. The firm’s revenue for the quarter was up 2.2% compared to the same quarter last year. As a group, equities research analysts expect that Nordstrom, Inc. will post 1.81 EPS for the current fiscal year.

Nordstrom Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 27th. Investors of record on Tuesday, March 12th were issued a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 3.95%. The ex-dividend date was Monday, March 11th. Nordstrom’s dividend payout ratio (DPR) is presently 95.00%.

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.