Nordstrom, Inc. (NYSE:JWN) Shares Sold by Hsbc Holdings PLC

Hsbc Holdings PLC lessened its stake in shares of Nordstrom, Inc. (NYSE:JWN) by 96.3% in the second quarter, Holdings Channel.com reports. The fund owned 12,114 shares of the specialty retailer’s stock after selling 318,057 shares during the quarter. Hsbc Holdings PLC’s holdings in Nordstrom were worth $257,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Capstone Investment Advisors LLC lifted its holdings in shares of Nordstrom by 185.0% during the first quarter. Capstone Investment Advisors LLC now owns 211,471 shares of the specialty retailer’s stock valued at $4,287,000 after purchasing an additional 137,271 shares during the last quarter. Nomura Holdings Inc. lifted its stake in Nordstrom by 152.2% during the fourth quarter. Nomura Holdings Inc. now owns 169,604 shares of the specialty retailer’s stock valued at $3,129,000 after buying an additional 102,361 shares in the last quarter. Verition Fund Management LLC boosted its holdings in shares of Nordstrom by 347.2% in the fourth quarter. Verition Fund Management LLC now owns 309,299 shares of the specialty retailer’s stock worth $5,707,000 after buying an additional 240,134 shares during the period. Vanguard Group Inc. boosted its holdings in shares of Nordstrom by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 10,074,006 shares of the specialty retailer’s stock worth $185,865,000 after buying an additional 46,980 shares during the period. Finally, Mitsubishi UFJ Trust & Banking Corp increased its position in shares of Nordstrom by 2.1% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 199,586 shares of the specialty retailer’s stock worth $4,024,000 after acquiring an additional 4,187 shares in the last quarter. 88.73% of the stock is owned by institutional investors.

Nordstrom Stock Performance

JWN stock opened at $21.97 on Friday. The firm has a 50 day moving average of $22.16 and a two-hundred day moving average of $21.23. Nordstrom, Inc. has a 12 month low of $12.88 and a 12 month high of $24.03. The company has a market capitalization of $3.60 billion, a price-to-earnings ratio of 12.01 and a beta of 2.60. The company has a quick ratio of 0.41, a current ratio of 1.07 and a debt-to-equity ratio of 2.76.

Nordstrom (NYSE:JWN) last issued its quarterly earnings data on Tuesday, August 27th. The specialty retailer reported $0.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.71 by $0.25. Nordstrom had a negative net margin of 1.44% and a negative return on equity of 21.26%. The firm had revenue of $3.89 billion during the quarter, compared to analysts’ expectations of $3.88 billion. During the same period in the prior year, the company posted $0.84 earnings per share. Nordstrom’s revenue for the quarter was up 3.2% on a year-over-year basis. As a group, equities analysts anticipate that Nordstrom, Inc. will post 1.9 EPS for the current fiscal year.

Nordstrom Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 18th. Investors of record on Tuesday, September 3rd were paid a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 3.46%. The ex-dividend date of this dividend was Tuesday, September 3rd. Nordstrom’s payout ratio is 41.53%.

Insider Buying and Selling

In other Nordstrom news, COO Alexis Depree sold 20,000 shares of the stock in a transaction that occurred on Tuesday, September 24th. The stock was sold at an average price of $23.20, for a total transaction of $464,000.00. Following the transaction, the chief operating officer now owns 169,331 shares in the company, valued at $3,928,479.20. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 5.78% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on the stock. BMO Capital Markets raised their price objective on shares of Nordstrom from $20.00 to $22.00 and gave the stock a “market perform” rating in a research note on Wednesday, August 28th. Bank of America raised their target price on Nordstrom from $18.00 to $20.00 and gave the stock an “underperform” rating in a research report on Wednesday, August 28th. KeyCorp lowered Nordstrom from an “overweight” rating to a “sector weight” rating in a research report on Thursday, September 26th. Barclays upgraded Nordstrom from an “underweight” rating to an “equal weight” rating and raised their price objective for the stock from $18.00 to $23.00 in a research report on Thursday, September 5th. Finally, TD Cowen upped their target price on Nordstrom from $24.00 to $25.00 and gave the company a “hold” rating in a report on Wednesday, August 28th. Three equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, Nordstrom presently has a consensus rating of “Hold” and a consensus target price of $20.23.

Nordstrom Company Profile

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; Nordstrom.ca; Nordstrom stores; Nordstrom Rack stores; Nordstrom Locals; ASOS; Nordstromrack.com; mobile application; and clearance stores under the Last Chance name.