Renaissance Technologies LLC Decreases Stock Holdings in Nordstrom, Inc. (NYSE:JWN)

Renaissance Technologies LLC decreased its holdings in shares of Nordstrom, Inc. (NYSE:JWN) by 21.2% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,027,500 shares of the specialty retailer’s stock after selling 276,500 shares during the quarter. Renaissance Technologies LLC’s holdings in Nordstrom were worth $32,736,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in JWN. Geode Capital Management LLC raised its stake in Nordstrom by 5.1% during the fourth quarter. Geode Capital Management LLC now owns 1,650,673 shares of the specialty retailer’s stock valued at $76,815,000 after purchasing an additional 80,459 shares in the last quarter. SG Americas Securities LLC raised its stake in Nordstrom by 164.7% during the first quarter. SG Americas Securities LLC now owns 19,317 shares of the specialty retailer’s stock valued at $857,000 after purchasing an additional 49,191 shares in the last quarter. Victory Capital Management Inc. raised its stake in Nordstrom by 420.5% during the first quarter. Victory Capital Management Inc. now owns 202,201 shares of the specialty retailer’s stock valued at $8,974,000 after purchasing an additional 163,357 shares in the last quarter. Nissay Asset Management Corp Japan ADV raised its stake in Nordstrom by 4.8% during the first quarter. Nissay Asset Management Corp Japan ADV now owns 10,865 shares of the specialty retailer’s stock valued at $482,000 after purchasing an additional 499 shares in the last quarter. Finally, Mn Services Vermogensbeheer B.V. increased its position in Nordstrom by 1.6% during the first quarter. Mn Services Vermogensbeheer B.V. now owns 64,077 shares of the specialty retailer’s stock valued at $2,844,000 after acquiring an additional 1,000 shares during the last quarter. 64.63% of the stock is currently owned by institutional investors.

In related news, insider Christine Deputy sold 1,906 shares of the company’s stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $28.53, for a total value of $54,378.18. Following the completion of the sale, the insider now directly owns 56,913 shares of the company’s stock, valued at $1,623,727.89. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 5.21% of the stock is owned by corporate insiders.

A number of research analysts have weighed in on JWN shares. Robert W. Baird cut their price objective on shares of Nordstrom from $45.00 to $38.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 22nd. JPMorgan Chase & Co. cut their price objective on shares of Nordstrom from $40.00 to $35.00 and set an “underweight” rating on the stock in a research report on Wednesday, May 22nd. KeyCorp cut their price objective on shares of Nordstrom from $52.00 to $48.00 and set an “overweight” rating on the stock in a research report on Thursday, August 22nd. Piper Jaffray Companies cut their price objective on shares of Nordstrom from $40.00 to $33.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 22nd. Finally, Deutsche Bank cut their price objective on shares of Nordstrom from $47.00 to $36.00 and set a “hold” rating on the stock in a research report on Wednesday, May 22nd. Five equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and one has issued a buy rating to the company. Nordstrom has an average rating of “Hold” and an average target price of $38.19.

Shares of NYSE JWN traded up $0.37 during mid-day trading on Friday, reaching $34.99. The company had a trading volume of 156,176 shares, compared to its average volume of 7,296,206. The business’s 50-day moving average is $29.39 and its 200-day moving average is $36.04. The company has a current ratio of 0.79, a quick ratio of 0.35 and a debt-to-equity ratio of 5.39. The stock has a market cap of $5.30 billion, a price-to-earnings ratio of 9.86, a price-to-earnings-growth ratio of 1.71 and a beta of 0.70. Nordstrom, Inc. has a 52 week low of $25.01 and a 52 week high of $67.75.

Nordstrom (NYSE:JWN) last posted its quarterly earnings results on Wednesday, August 21st. The specialty retailer reported $0.90 EPS for the quarter, topping the Zacks’ consensus estimate of $0.76 by $0.14. The firm had revenue of $3.87 billion for the quarter, compared to analysts’ expectations of $3.92 billion. Nordstrom had a net margin of 3.17% and a return on equity of 62.11%. The business’s revenue for the quarter was down 4.8% on a year-over-year basis. During the same period in the prior year, the business posted $0.95 earnings per share. As a group, equities research analysts forecast that Nordstrom, Inc. will post 3.34 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Friday, August 30th will be paid a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 4.23%. The ex-dividend date is Thursday, August 29th. Nordstrom’s dividend payout ratio (DPR) is presently 41.69%.

Nordstrom Company Profile

Nordstrom, Inc, a fashion retailer, provides apparel, shoes, cosmetics, and accessories 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 full-line stores and online store at Nordstrom.com; Nordstrom Rack stores; Nordstromrack.com and HauteLook; Jeffrey boutiques; clearance stores that operate under the Last Chance name; Trunk Club clubhouses and TrunkClub.com; and Nordstrom Locals.

Recommended Story: What is Depreciation?

Want to see what other hedge funds are holding JWN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Nordstrom, Inc. (NYSE:JWN).

Institutional Ownership by Quarter for Nordstrom (NYSE:JWN)

Receive News & Ratings for Nordstrom Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Nordstrom and related companies with MarketBeat.com's FREE daily email newsletter.