Cambridge Investment Research Advisors Inc. Trims Stock Holdings in Nordstrom, Inc. (NYSE:JWN)

Cambridge Investment Research Advisors Inc. cut its holdings in shares of Nordstrom, Inc. (NYSE:JWN – Get Rating) by 18.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 29,521 shares of the specialty retailer’s stock after selling 6,763 shares during the period. Cambridge Investment Research Advisors Inc.’s holdings in Nordstrom were worth $476,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Van ECK Associates Corp purchased a new stake in Nordstrom during the fourth quarter worth about $196,000. Swiss National Bank boosted its holdings in shares of Nordstrom by 2.1% in the fourth quarter. Swiss National Bank now owns 270,100 shares of the specialty retailer’s stock valued at $4,359,000 after acquiring an additional 5,500 shares during the period. Russell Investments Group Ltd. boosted its holdings in shares of Nordstrom by 91.5% in the fourth quarter. Russell Investments Group Ltd. now owns 128,521 shares of the specialty retailer’s stock valued at $2,074,000 after acquiring an additional 61,402 shares during the period. Arizona State Retirement System boosted its holdings in shares of Nordstrom by 4.1% in the fourth quarter. Arizona State Retirement System now owns 31,564 shares of the specialty retailer’s stock valued at $509,000 after acquiring an additional 1,243 shares during the period. Finally, Duality Advisers LP acquired a new stake in shares of Nordstrom in the fourth quarter valued at approximately $2,826,000. 66.41% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on JWN shares. StockNews.com assumed coverage on Nordstrom in a report on Thursday, May 18th. They issued a “hold” rating for the company. Credit Suisse Group restated a “neutral” rating and set a $17.00 price target on shares of Nordstrom in a research note on Friday, March 3rd. Gordon Haskett upgraded Nordstrom from a “reduce” rating to a “hold” rating and set a $22.00 price target for the company in a research note on Friday, February 3rd. Argus upgraded Nordstrom from a “hold” rating to a “buy” rating and set a $23.00 price target for the company in a research note on Wednesday, March 8th. Finally, Barclays reduced their target price on Nordstrom from $16.00 to $14.00 in a report on Tuesday, May 2nd. Four investment analysts have rated the stock with a sell rating, ten have issued a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $18.75.

Nordstrom Stock Performance

JWN stock opened at $15.40 on Friday. The firm has a market cap of $2.49 billion, a P/E ratio of 10.20, a P/E/G ratio of 1.41 and a beta of 2.21. The stock’s 50 day simple moving average is $15.76 and its 200 day simple moving average is $17.97. The company has a current ratio of 1.07, a quick ratio of 0.42 and a debt-to-equity ratio of 3.86. Nordstrom, Inc. has a 12-month low of $14.02 and a 12-month high of $27.72.

Nordstrom (NYSE:JWN – Get Rating) last issued its quarterly earnings data on Thursday, March 2nd. The specialty retailer reported $0.74 EPS for the quarter, topping analysts’ consensus estimates of $0.65 by $0.09. Nordstrom had a return on equity of 42.08% and a net margin of 1.58%. The firm had revenue of $4.20 billion during the quarter, compared to the consensus estimate of $4.33 billion. During the same period in the prior year, the business earned $1.23 EPS. The firm’s revenue was down 4.2% on a year-over-year basis. As a group, equities research analysts predict that Nordstrom, Inc. will post 1.93 EPS for the current year.

Nordstrom Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 14th. Stockholders of record on Tuesday, May 30th will be issued a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 4.94%. The ex-dividend date is Friday, May 26th. Nordstrom’s dividend payout ratio is 50.33%.

Nordstrom Company Profile

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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.