Allspring Global Investments Holdings LLC Sells 12,921 Shares of Nordstrom, Inc. (NYSE:JWN)

Allspring Global Investments Holdings LLC trimmed its stake in Nordstrom, Inc. (NYSE:JWN) by 70.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,376 shares of the specialty retailer’s stock after selling 12,921 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Nordstrom were worth $99,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. AE Wealth Management LLC bought a new position in shares of Nordstrom during the 3rd quarter worth approximately $168,000. Commonwealth Equity Services LLC lifted its holdings in shares of Nordstrom by 14.1% during the 3rd quarter. Commonwealth Equity Services LLC now owns 217,449 shares of the specialty retailer’s stock valued at $3,249,000 after purchasing an additional 26,942 shares during the last quarter. New York State Teachers Retirement System boosted its position in shares of Nordstrom by 3.5% in the 3rd quarter. New York State Teachers Retirement System now owns 129,235 shares of the specialty retailer’s stock worth $1,931,000 after purchasing an additional 4,389 shares in the last quarter. Strs Ohio acquired a new stake in shares of Nordstrom in the 3rd quarter worth $718,000. Finally, Silverleafe Capital Partners LLC purchased a new position in Nordstrom during the 3rd quarter worth $2,000,000. 88.73% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. Piper Sandler upped their price target on shares of Nordstrom from $17.00 to $20.00 and gave the company a “neutral” rating in a research note on Wednesday, March 6th. Barclays raised their target price on Nordstrom from $14.00 to $15.00 and gave the stock an “underweight” rating in a research note on Wednesday, March 6th. Telsey Advisory Group reissued a “market perform” rating and issued a $19.00 price objective on shares of Nordstrom in a report on Friday, April 19th. JPMorgan Chase & Co. lifted 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. Finally, Jefferies Financial Group reiterated a “hold” rating and issued a $17.00 price target (down previously from $18.00) on shares of Nordstrom in a report on Thursday, March 7th. Five investment analysts have rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $16.54.

Nordstrom Stock Performance

JWN opened at $19.43 on Tuesday. The stock has a market cap of $3.17 billion, a P/E ratio of 24.29, a P/E/G ratio of 2.17 and a beta of 2.59. The company has a debt-to-equity ratio of 3.08, a current ratio of 1.02 and a quick ratio of 0.41. The firm has a fifty day moving average price of $19.16 and a 200 day moving average price of $17.60. Nordstrom, Inc. has a 1 year low of $12.88 and a 1 year high of $23.53.

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

Nordstrom Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 27th. Stockholders of record on Tuesday, March 12th were paid a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 3.91%. The ex-dividend date of this dividend was Monday, March 11th. Nordstrom’s payout ratio is 95.00%.

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.