Cohen Klingenstein LLC Sells 4,000 Shares of Nordstrom, Inc. (NYSE:JWN)

Cohen Klingenstein LLC trimmed its position in shares of Nordstrom, Inc. (NYSE:JWN) by 25.3% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 11,790 shares of the specialty retailer’s stock after selling 4,000 shares during the period. Cohen Klingenstein LLC’s holdings in Nordstrom were worth $285,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Hennessy Advisors Inc. bought a new position in Nordstrom in the 4th quarter valued at approximately $56,026,000. Verition Fund Management LLC boosted its holdings in shares of Nordstrom by 147.4% during the 3rd quarter. Verition Fund Management LLC now owns 1,218,365 shares of the specialty retailer’s stock valued at $27,401,000 after acquiring an additional 725,803 shares in the last quarter. Marshall Wace LLP grew its position in Nordstrom by 38.4% during the 2nd quarter. Marshall Wace LLP now owns 1,479,414 shares of the specialty retailer’s stock worth $31,393,000 after acquiring an additional 410,152 shares during the last quarter. Axiom Advisory LLC increased its holdings in Nordstrom by 46.0% in the 3rd quarter. Axiom Advisory LLC now owns 1,100,864 shares of the specialty retailer’s stock worth $24,456,000 after purchasing an additional 346,994 shares in the last quarter. Finally, Cyndeo Wealth Partners LLC bought a new stake in shares of Nordstrom in the 3rd quarter valued at $6,248,000. 88.73% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. Citigroup increased their target price on shares of Nordstrom from $22.00 to $23.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 19th. UBS Group raised shares of Nordstrom from a “sell” rating to a “neutral” rating and upped their price objective for the stock from $14.50 to $24.00 in a research report on Friday, January 10th. Telsey Advisory Group reaffirmed a “market perform” rating and issued a $24.00 target price on shares of Nordstrom in a report on Monday, January 13th. Bank of America boosted their price target on shares of Nordstrom from $20.00 to $22.00 and gave the stock an “underperform” rating in a report on Wednesday, November 27th. Finally, KeyCorp lowered shares of Nordstrom from an “overweight” rating to a “sector weight” rating in a research report on Thursday, September 26th. Three analysts have rated the stock with a sell rating, eleven have given a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, Nordstrom currently has an average rating of “Hold” and an average price target of $22.17.

Nordstrom Price Performance

JWN opened at $24.12 on Friday. The stock has a market capitalization of $3.98 billion, a P/E ratio of 15.36 and a beta of 2.52. Nordstrom, Inc. has a 12-month low of $16.78 and a 12-month high of $24.99. The stock has a 50-day moving average price of $23.55 and a 200-day moving average price of $22.80. The company has a current ratio of 1.14, a quick ratio of 0.35 and a debt-to-equity ratio of 2.65.

Nordstrom (NYSE:JWN) last released its earnings results on Tuesday, November 26th. The specialty retailer reported $0.33 EPS for the quarter, beating the consensus estimate of $0.22 by $0.11. The company had revenue of $3.35 billion for the quarter, compared to analyst estimates of $3.34 billion. Nordstrom had a negative net margin of 1.57% and a negative return on equity of 18.04%. The firm’s quarterly revenue was up 4.6% compared to the same quarter last year. During the same quarter last year, the firm earned $0.25 EPS. Equities analysts predict that Nordstrom, Inc. will post 1.95 earnings per share for the current fiscal year.

Nordstrom Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, December 18th. Stockholders of record on Tuesday, December 3rd were paid a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 3.15%. The ex-dividend date of this dividend was Tuesday, December 3rd. Nordstrom’s dividend payout ratio (DPR) is presently 48.41%.

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.