Nordstrom, Inc. (JWN) Shares Sold by Texas Permanent School Fund

Texas Permanent School Fund trimmed its position in Nordstrom, Inc. (NYSE:JWN) by 11.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 22,886 shares of the specialty retailer’s stock after selling 2,846 shares during the quarter. Texas Permanent School Fund’s holdings in Nordstrom were worth $1,067,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the company. Vanguard Group Inc raised its stake in shares of Nordstrom by 1.5% in the third quarter. Vanguard Group Inc now owns 12,462,906 shares of the specialty retailer’s stock worth $745,406,000 after purchasing an additional 178,581 shares during the last quarter. BlackRock Inc. raised its stake in shares of Nordstrom by 6.4% in the fourth quarter. BlackRock Inc. now owns 10,496,455 shares of the specialty retailer’s stock worth $489,241,000 after purchasing an additional 630,899 shares during the last quarter. Boston Partners raised its stake in shares of Nordstrom by 57.5% in the fourth quarter. Boston Partners now owns 6,346,355 shares of the specialty retailer’s stock worth $295,804,000 after purchasing an additional 2,318,179 shares during the last quarter. JPMorgan Chase & Co. raised its stake in shares of Nordstrom by 1.2% in the third quarter. JPMorgan Chase & Co. now owns 5,721,385 shares of the specialty retailer’s stock worth $342,197,000 after purchasing an additional 66,655 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund raised its stake in shares of 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 purchasing an additional 2,830,753 shares during the last quarter. Hedge funds and other institutional investors own 60.50% of the company’s stock.

Nordstrom stock opened at $43.74 on Friday. The stock has a market cap of $7.32 billion, a P/E ratio of 12.32, a P/E/G ratio of 1.97 and a beta of 0.54. Nordstrom, Inc. has a 52 week low of $43.04 and a 52 week high of $67.75. The company has a current ratio of 1.00, a quick ratio of 0.41 and a debt-to-equity ratio of 3.07.

Nordstrom (NYSE:JWN) last posted its earnings results on Thursday, February 28th. The specialty retailer reported $1.48 EPS for the quarter, topping the consensus estimate of $1.42 by $0.06. Nordstrom had a return on equity of 57.14% and a net margin of 3.56%. During the same quarter last year, the business earned $1.20 EPS. Research analysts anticipate that Nordstrom, Inc. will post 3.76 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 26th. Shareholders of record on Monday, March 11th will be issued a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 3.38%. The ex-dividend date is Friday, March 8th. Nordstrom’s payout ratio is currently 41.69%.

In other Nordstrom news, insider Erik B. Nordstrom sold 1,169 shares of the firm’s stock in a transaction that occurred on Monday, February 25th. The stock was sold at an average price of $44.70, for a total value of $52,254.30. Following the sale, the insider now directly owns 2,671,406 shares of the company’s stock, valued at $119,411,848.20. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Erik B. Nordstrom sold 17,762 shares of the firm’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $44.07, for a total value of $782,771.34. Following the completion of the sale, the insider now directly owns 2,653,314 shares in the company, valued at $116,931,547.98. The disclosure for this sale can be found here. 7.05% of the stock is currently owned by company insiders.

Several brokerages have recently issued reports on JWN. Piper Jaffray Companies set a $44.00 price objective on Nordstrom and gave the stock a “hold” rating in a research note on Friday, March 1st. Bank of America set a $48.00 price objective on Nordstrom and gave the stock a “sell” rating in a research note on Friday, March 1st. Deutsche Bank reduced their price objective on Nordstrom from $51.00 to $49.00 and set a “hold” rating for the company in a research note on Friday, March 1st. Citigroup raised their price objective on Nordstrom from $45.00 to $48.00 and gave the stock a “neutral” rating in a research note on Friday, March 1st. Finally, Guggenheim reaffirmed a “hold” rating on shares of Nordstrom in a report on Thursday, February 28th. Three investment analysts have rated the stock with a sell rating, fourteen have given a hold rating and four have issued a buy rating to the company’s stock. The stock 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.

See Also: Average Daily Trade Volume – ADTV

Institutional Ownership by Quarter for Nordstrom (NYSE:JWN)

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