Truist Financial Corp Lowers Stock Holdings in Nordstrom, Inc. (NYSE:JWN)

Truist Financial Corp reduced its position in shares of Nordstrom, Inc. (NYSE:JWNGet Rating) by 70.7% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 29,634 shares of the specialty retailer’s stock after selling 71,360 shares during the period. Truist Financial Corp’s holdings in Nordstrom were worth $495,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of JWN. Renaissance Technologies LLC boosted its position in shares of Nordstrom by 240.8% during the first quarter. Renaissance Technologies LLC now owns 1,988,500 shares of the specialty retailer’s stock worth $53,908,000 after buying an additional 1,405,000 shares during the period. Bank of America Corp DE boosted its position in shares of Nordstrom by 204.5% during the first quarter. Bank of America Corp DE now owns 772,038 shares of the specialty retailer’s stock worth $20,930,000 after buying an additional 518,510 shares during the period. Trexquant Investment LP purchased a new position in shares of Nordstrom during the second quarter worth $7,400,000. International Assets Investment Management LLC purchased a new position in shares of Nordstrom during the second quarter worth $202,000. Finally, State Street Corp boosted its position in shares of Nordstrom by 5.5% during the first quarter. State Street Corp now owns 4,552,284 shares of the specialty retailer’s stock worth $124,245,000 after buying an additional 239,120 shares during the period. 66.41% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Credit Suisse Group decreased their target price on Nordstrom from $20.00 to $17.00 and set a “neutral” rating for the company in a report on Friday. Citigroup decreased their target price on Nordstrom from $21.00 to $17.00 and set a “neutral” rating for the company in a report on Friday. JPMorgan Chase & Co. decreased their target price on Nordstrom from $15.00 to $13.00 and set an “underweight” rating for the company in a report on Friday. BMO Capital Markets decreased their target price on Nordstrom from $23.00 to $20.00 and set a “market perform” rating for the company in a report on Friday. Finally, Evercore ISI cut their price target on Nordstrom from $25.00 to $16.00 and set an “in-line” rating on the stock in a research note on Friday. Five equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $18.63.

Nordstrom Stock Up 7.2 %

JWN opened at $18.73 on Tuesday. The business’s 50-day simple moving average is $18.24 and its 200-day simple moving average is $19.65. The company has a debt-to-equity ratio of 4.71, a quick ratio of 0.24 and a current ratio of 0.99. Nordstrom, Inc. has a one year low of $15.52 and a one year high of $29.59. The stock has a market capitalization of $3.00 billion, a P/E ratio of 9.37, a price-to-earnings-growth ratio of 0.62 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 EPS for the quarter, topping analysts’ consensus estimates of $0.14 by $0.06. Nordstrom had a return on equity of 58.09% and a net margin of 2.08%. The business had revenue of $3.50 billion for the quarter, compared to analysts’ expectations of $3.49 billion. During the same quarter in the previous year, the firm earned $0.39 earnings per share. The business’s revenue was down 3.8% compared to the same quarter last year. Analysts anticipate that Nordstrom, Inc. will post 1.6 EPS for the current year.

Nordstrom Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 14th. Investors of record on Tuesday, November 29th were given a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 4.06%. The ex-dividend date of this dividend was Monday, November 28th. Nordstrom’s dividend payout ratio (DPR) is presently 38.00%.

Nordstrom Profile

(Get Rating)

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

See Also

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Institutional Ownership by Quarter for Nordstrom (NYSE:JWN)

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