Mutual of America Capital Management LLC Sells 8,421 Shares of Nordstrom, Inc. (NYSE:JWN)

Mutual of America Capital Management LLC lessened its holdings in Nordstrom, Inc. (NYSE:JWNGet Rating) by 8.3% during the 2nd quarter, Holdings Channel.com reports. The firm owned 93,284 shares of the specialty retailer’s stock after selling 8,421 shares during the period. Mutual of America Capital Management LLC’s holdings in Nordstrom were worth $1,971,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the business. Vanguard Group Inc. lifted its stake in shares of Nordstrom by 1.6% in the 1st quarter. Vanguard Group Inc. now owns 10,276,748 shares of the specialty retailer’s stock worth $278,603,000 after purchasing an additional 160,514 shares during the period. State Street Corp lifted its stake in shares of Nordstrom by 5.5% in the 1st quarter. State Street Corp now owns 4,552,284 shares of the specialty retailer’s stock worth $124,245,000 after purchasing an additional 239,120 shares during the period. Renaissance Technologies LLC lifted its stake in shares of Nordstrom by 240.8% in the 1st quarter. Renaissance Technologies LLC now owns 1,988,500 shares of the specialty retailer’s stock worth $53,908,000 after purchasing an additional 1,405,000 shares during the period. Disciplined Growth Investors Inc. MN lifted its stake in shares of Nordstrom by 1.4% in the 1st quarter. Disciplined Growth Investors Inc. MN now owns 1,609,386 shares of the specialty retailer’s stock worth $43,630,000 after purchasing an additional 21,510 shares during the period. Finally, GW&K Investment Management LLC lifted its stake in shares of Nordstrom by 7.3% in the 1st quarter. GW&K Investment Management LLC now owns 1,065,687 shares of the specialty retailer’s stock worth $28,891,000 after purchasing an additional 72,373 shares during the period. Institutional investors own 59.36% of the company’s stock.

Nordstrom Trading Down 4.2 %

JWN stock opened at $21.69 on Thursday. The firm has a fifty day moving average price of $19.52 and a 200 day moving average price of $21.55. Nordstrom, Inc. has a fifty-two week low of $16.14 and a fifty-two week high of $29.59. The company has a debt-to-equity ratio of 4.30, a quick ratio of 0.34 and a current ratio of 1.01. The firm has a market cap of $3.45 billion, a PE ratio of 8.61, a price-to-earnings-growth ratio of 1.53 and a beta of 2.17.

Nordstrom (NYSE:JWNGet Rating) last posted its earnings results on Tuesday, November 22nd. The specialty retailer reported $0.20 earnings per share for the quarter, beating analysts’ consensus estimates of $0.14 by $0.06. Nordstrom had a net margin of 2.60% and a return on equity of 70.36%. The firm had revenue of $3.50 billion during the quarter, compared to analyst estimates of $3.49 billion. During the same period last year, the firm posted $0.39 earnings per share. Nordstrom’s revenue for the quarter was down 3.8% compared to the same quarter last year. Sell-side analysts anticipate that Nordstrom, Inc. will post 2.32 earnings per share for the current fiscal year.

Nordstrom Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 14th. Shareholders of record on Tuesday, November 29th will be paid a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 3.50%. The ex-dividend date of this dividend is Monday, November 28th. Nordstrom’s payout ratio is 30.16%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on JWN shares. Piper Sandler lowered their price objective on shares of Nordstrom from $28.00 to $26.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 24th. Morgan Stanley decreased their target price on shares of Nordstrom from $19.00 to $18.00 and set an “underweight” rating on the stock in a research note on Wednesday, August 24th. Barclays decreased their target price on shares of Nordstrom from $21.00 to $18.00 and set an “underweight” rating on the stock in a research note on Thursday, August 25th. Credit Suisse Group decreased their target price on shares of Nordstrom from $21.00 to $20.00 and set a “neutral” rating on the stock in a research note on Wednesday. Finally, Citigroup decreased their target price on shares of Nordstrom from $22.00 to $21.00 in a research note on Wednesday, August 24th. Four research analysts have rated the stock with a sell rating, nine have issued a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $24.00.

About Nordstrom

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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; TrunkClub.com; Nordstrom.ca; Nordstrom stores; Nordstrom Rack stores; Nordstrom Locals; Nordstromrack.com and HauteLook; clearance stores under the Last Chance name; Trunk Club clubhouses; and Jeffrey boutiques.

See Also

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Institutional Ownership by Quarter for Nordstrom (NYSE:JWN)

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