Mutual of America Capital Management LLC Trims Stock Position in Nordstrom, Inc. (NYSE:JWN)

Mutual of America Capital Management LLC lowered its position in shares of Nordstrom, Inc. (NYSE:JWNGet Rating) by 8.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 93,284 shares of the specialty retailer’s stock after selling 8,421 shares during the period. Mutual of America Capital Management LLC owned 0.06% of Nordstrom worth $1,971,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Vanguard Group Inc. grew its stake in 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 buying an additional 160,514 shares in the last quarter. State Street Corp grew its stake in 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 buying an additional 239,120 shares in the last quarter. Renaissance Technologies LLC grew its stake in 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 buying an additional 1,405,000 shares in the last quarter. Disciplined Growth Investors Inc. MN grew its stake in 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 buying an additional 21,510 shares in the last quarter. Finally, GW&K Investment Management LLC grew its stake in 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 buying an additional 72,373 shares in the last quarter. Hedge funds and other institutional investors own 59.36% of the company’s stock.

Analyst Ratings Changes

JWN has been the subject of a number of research reports. Telsey Advisory Group cut their price target on shares of Nordstrom from $28.00 to $25.00 and set a “market perform” rating for the company in a research note on Wednesday, August 24th. Piper Sandler lowered their price objective on shares of Nordstrom from $28.00 to $26.00 and set an “overweight” rating for the company in a report on Wednesday, August 24th. Morgan Stanley lowered their price objective on shares of Nordstrom from $19.00 to $18.00 and set an “underweight” rating for the company in a report on Wednesday, August 24th. Credit Suisse Group lowered their price objective on shares of Nordstrom from $21.00 to $20.00 and set a “neutral” rating for the company in a report on Wednesday. Finally, Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Nordstrom from $23.00 to $22.00 and set a “hold” rating for the company in a report on Monday, November 14th. Four investment analysts have rated the stock with a sell rating, nine have issued a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $24.00.

Nordstrom Stock Down 4.2 %

Shares of NYSE JWN opened at $21.69 on Thursday. The company has a current ratio of 1.01, a quick ratio of 0.34 and a debt-to-equity ratio of 4.30. Nordstrom, Inc. has a 12 month low of $16.14 and a 12 month high of $29.59. The firm has a market capitalization 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. The firm has a fifty day simple moving average of $19.52 and a two-hundred day simple moving average of $21.55.

Nordstrom (NYSE:JWNGet Rating) last issued its quarterly earnings data on Tuesday, November 22nd. The specialty retailer reported $0.20 EPS for the quarter, topping the consensus estimate of $0.14 by $0.06. Nordstrom had a net margin of 2.60% and a return on equity of 70.36%. The business had revenue of $3.50 billion during the quarter, compared to analyst estimates of $3.49 billion. During the same period in the prior year, the business earned $0.39 EPS. The company’s revenue for the quarter was down 3.8% on a year-over-year basis. Equities analysts expect that Nordstrom, Inc. will post 2.32 earnings per share for the current year.

Nordstrom Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 14th. Stockholders of record on Tuesday, November 29th will be given a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 3.50%. The ex-dividend date of this dividend is Monday, November 28th. Nordstrom’s dividend payout ratio is presently 30.16%.

Nordstrom Company Profile

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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

Institutional Ownership by Quarter for Nordstrom (NYSE:JWN)

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