Truist Financial Corp Has $2.57 Million Holdings in Nordstrom, Inc. (NYSE:JWN)

Truist Financial Corp cut its stake in shares of Nordstrom, Inc. (NYSE:JWN) by 3.3% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 97,163 shares of the specialty retailer’s stock after selling 3,358 shares during the period. Truist Financial Corp’s holdings in Nordstrom were worth $2,570,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Kovitz Investment Group Partners LLC increased its holdings in shares of Nordstrom by 12.0% during the third quarter. Kovitz Investment Group Partners LLC now owns 156,192 shares of the specialty retailer’s stock worth $4,131,000 after buying an additional 16,785 shares in the last quarter. Amalgamated Bank increased its holdings in shares of Nordstrom by 566.7% during the second quarter. Amalgamated Bank now owns 90,772 shares of the specialty retailer’s stock worth $3,320,000 after buying an additional 77,157 shares in the last quarter. Stephens Inc. AR increased its holdings in shares of Nordstrom by 47.0% during the third quarter. Stephens Inc. AR now owns 68,163 shares of the specialty retailer’s stock worth $1,803,000 after buying an additional 21,782 shares in the last quarter. Cinctive Capital Management LP increased its holdings in shares of Nordstrom by 31.2% during the second quarter. Cinctive Capital Management LP now owns 65,707 shares of the specialty retailer’s stock worth $2,403,000 after buying an additional 15,641 shares in the last quarter. Finally, LPL Financial LLC increased its holdings in shares of Nordstrom by 36.7% during the second quarter. LPL Financial LLC now owns 63,256 shares of the specialty retailer’s stock worth $2,313,000 after buying an additional 16,977 shares in the last quarter. Institutional investors own 57.73% of the company’s stock.

In other Nordstrom news, Director Bradley D. Tilden acquired 22,000 shares of the business’s stock in a transaction on Friday, November 26th. The shares were acquired at an average price of $21.27 per share, with a total value of $467,940.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 5.52% of the stock is currently owned by insiders.

JWN stock opened at $22.26 on Friday. The stock’s fifty day simple moving average is $24.82 and its two-hundred day simple moving average is $28.94. The company has a current ratio of 0.92, a quick ratio of 0.22 and a debt-to-equity ratio of 7.94. Nordstrom, Inc. has a 1-year low of $18.94 and a 1-year high of $46.45. The stock has a market cap of $3.55 billion, a P/E ratio of 556.50, a P/E/G ratio of 3.04 and a beta of 2.41.

Nordstrom (NYSE:JWN) last posted its quarterly earnings data on Tuesday, November 23rd. The specialty retailer reported $0.39 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.56 by ($0.17). Nordstrom had a return on equity of 27.68% and a net margin of 0.08%. The business had revenue of $3.64 billion during the quarter, compared to analysts’ expectations of $3.54 billion. During the same period in the prior year, the firm posted $0.22 EPS. The firm’s revenue for the quarter was up 17.7% on a year-over-year basis. As a group, analysts forecast that Nordstrom, Inc. will post 1.28 earnings per share for the current fiscal year.

Several brokerages have recently issued reports on JWN. Deutsche Bank Aktiengesellschaft lowered their price target on shares of Nordstrom from $37.00 to $27.00 and set a “hold” rating for the company in a report on Monday, November 29th. Evercore ISI decreased their price objective on Nordstrom from $45.00 to $35.00 and set an “outperform” rating for the company in a report on Wednesday, November 24th. Telsey Advisory Group decreased their price objective on Nordstrom from $36.00 to $27.00 and set a “market perform” rating for the company in a report on Wednesday, November 24th. Credit Suisse Group decreased their price objective on Nordstrom from $34.00 to $26.00 and set a “neutral” rating for the company in a report on Wednesday, November 24th. Finally, Morgan Stanley decreased their price objective on Nordstrom from $27.00 to $22.00 and set an “underweight” rating for the company in a report on Friday, November 26th. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $29.15.

About Nordstrom

Nordstrom, Inc engages in the manufacture and trade of clothes, shoes, and accessories. It operates through Retail; and Corporate/Other. The Retail segment comprises selection of high-quality, brand-name, and private label merchandise, which includes apparel, shoes, cosmetics, and accessories for women, men, young adults, and children.

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Institutional Ownership by Quarter for Nordstrom (NYSE:JWN)

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