New York State Teachers Retirement System Reduces Position in Nordstrom, Inc. (NYSE:JWN)

New York State Teachers Retirement System lessened its holdings in shares of Nordstrom, Inc. (NYSE:JWN) by 13.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 111,735 shares of the specialty retailer’s stock after selling 17,500 shares during the period. New York State Teachers Retirement System owned about 0.07% of Nordstrom worth $2,062,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of JWN. Sowell Financial Services LLC boosted its holdings in shares of Nordstrom by 6.6% in the fourth quarter. Sowell Financial Services LLC now owns 17,097 shares of the specialty retailer’s stock valued at $315,000 after purchasing an additional 1,053 shares during the period. Oak Thistle LLC purchased a new stake in shares of Nordstrom in the fourth quarter valued at approximately $642,000. Raymond James & Associates boosted its holdings in shares of Nordstrom by 2.4% in the fourth quarter. Raymond James & Associates now owns 93,076 shares of the specialty retailer’s stock valued at $1,717,000 after purchasing an additional 2,148 shares during the period. Premier Path Wealth Partners LLC purchased a new stake in shares of Nordstrom in the fourth quarter valued at approximately $1,081,000. Finally, Rowlandmiller & PARTNERS.ADV purchased a new stake in shares of Nordstrom in the fourth quarter valued at approximately $119,000. Hedge funds and other institutional investors own 88.73% of the company’s stock.

Nordstrom Stock Performance

Shares of JWN stock opened at $17.72 on Wednesday. The business’s fifty day simple moving average is $19.26 and its 200-day simple moving average is $17.31. The company has a market cap of $2.89 billion, a PE ratio of 22.14, a PEG ratio of 2.16 and a beta of 2.59. The company has a current ratio of 1.02, a quick ratio of 0.41 and a debt-to-equity ratio of 3.08. Nordstrom, Inc. has a 12-month low of $12.88 and a 12-month high of $23.53.

Nordstrom (NYSE:JWN) last released its earnings results on Tuesday, March 5th. The specialty retailer reported $0.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.90 by $0.06. Nordstrom had a return on equity of 49.30% and a net margin of 0.91%. The firm had revenue of $4.29 billion for the quarter, compared to the consensus estimate of $4.38 billion. During the same period in the prior year, the firm earned $0.74 EPS. The firm’s revenue was up 2.2% on a year-over-year basis. Analysts expect that Nordstrom, Inc. will post 1.81 earnings per share for the current fiscal year.

Nordstrom Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 27th. Investors of record on Tuesday, March 12th were given a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 4.29%. The ex-dividend date of this dividend was Monday, March 11th. Nordstrom’s payout ratio is 95.00%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on JWN. Bank of America boosted their price target on Nordstrom from $13.00 to $15.00 and gave the company an “underperform” rating in a report on Wednesday, March 6th. Jefferies Financial Group restated a “hold” rating and set a $17.00 target price (down previously from $18.00) on shares of Nordstrom in a report on Thursday, March 7th. Barclays upped their target price on Nordstrom from $14.00 to $15.00 and gave the stock an “underweight” rating in a report on Wednesday, March 6th. Citigroup lowered their target price on Nordstrom from $21.00 to $20.00 and set a “neutral” rating for the company in a report on Wednesday, March 6th. Finally, StockNews.com upgraded Nordstrom from a “hold” rating to a “buy” rating in a report on Thursday, March 14th. Five research analysts have rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $16.54.

Nordstrom 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.