BlackRock Inc. Sells 639,725 Shares of Nordstrom, Inc. (NYSE:JWN)

BlackRock Inc. reduced its holdings in shares of Nordstrom, Inc. (NYSE:JWN) by 6.1% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,856,730 shares of the specialty retailer’s stock after selling 639,725 shares during the quarter. BlackRock Inc. owned approximately 6.36% of Nordstrom worth $437,443,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also bought and sold shares of JWN. Oregon Public Employees Retirement Fund boosted its position in shares of Nordstrom by 4,156.2% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 2,898,862 shares of the specialty retailer’s stock worth $62,000 after acquiring an additional 2,830,753 shares during the last quarter. Boston Partners boosted its position in shares of Nordstrom by 57.5% in the fourth quarter. Boston Partners now owns 6,346,355 shares of the specialty retailer’s stock worth $295,804,000 after acquiring an additional 2,318,179 shares during the last quarter. JPMorgan Chase & Co. boosted its position in shares of Nordstrom by 23.0% in the first quarter. JPMorgan Chase & Co. now owns 7,339,382 shares of the specialty retailer’s stock worth $325,721,000 after acquiring an additional 1,374,779 shares during the last quarter. Norges Bank acquired a new stake in shares of Nordstrom in the fourth quarter worth approximately $55,352,000. Finally, Unigestion Holding SA boosted its position in shares of Nordstrom by 533.8% in the fourth quarter. Unigestion Holding SA now owns 651,325 shares of the specialty retailer’s stock worth $30,358,000 after acquiring an additional 548,553 shares during the last quarter. Hedge funds and other institutional investors own 62.30% of the company’s stock.

In related news, insider Christine Deputy sold 4,812 shares of the company’s stock in a transaction on Friday, June 14th. The stock was sold at an average price of $32.59, for a total value of $156,823.08. Following the completion of the transaction, the insider now directly owns 60,056 shares in the company, valued at $1,957,225.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Peter E. Nordstrom sold 3,380 shares of the company’s stock in a transaction on Monday, June 10th. The shares were sold at an average price of $32.46, for a total value of $109,714.80. Following the completion of the transaction, the insider now owns 2,530,989 shares of the company’s stock, valued at $82,155,902.94. The disclosure for this sale can be found here. 5.21% of the stock is currently owned by corporate insiders.

JWN has been the topic of a number of recent research reports. ValuEngine cut shares of Nordstrom from a “sell” rating to a “strong sell” rating in a research report on Monday, April 29th. Zacks Investment Research lowered shares of Nordstrom from a “buy” rating to a “hold” rating in a research note on Monday, May 13th. Gordon Haskett upgraded shares of Nordstrom from a “reduce” rating to a “hold” rating and set a $33.71 price objective on the stock in a research note on Thursday, June 20th. Bank of America dropped their price objective on shares of Nordstrom from $40.00 to $32.00 and set an “underperform” rating on the stock in a research note on Wednesday, May 22nd. Finally, Robert W. Baird dropped their price objective on shares of Nordstrom from $45.00 to $38.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 22nd. Five investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and two have given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $42.11.

Shares of JWN traded down $0.37 during trading hours on Monday, reaching $31.49. The company’s stock had a trading volume of 4,895,549 shares, compared to its average volume of 3,456,620. The company has a market cap of $4.87 billion, a price-to-earnings ratio of 8.87, a price-to-earnings-growth ratio of 1.59 and a beta of 0.65. The firm has a 50 day moving average of $33.86. Nordstrom, Inc. has a 1-year low of $30.55 and a 1-year high of $67.75. The company has a current ratio of 0.76, a quick ratio of 0.24 and a debt-to-equity ratio of 6.34.

Nordstrom (NYSE:JWN) last announced its quarterly earnings results on Tuesday, May 21st. The specialty retailer reported $0.23 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.43 by ($0.20). The firm had revenue of $3.44 billion during the quarter, compared to the consensus estimate of $3.54 billion. Nordstrom had a net margin of 3.27% and a return on equity of 58.16%. During the same period in the previous year, the firm posted $0.51 EPS. Equities research analysts anticipate that Nordstrom, Inc. will post 3.34 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 18th. Stockholders of record on Monday, June 3rd were given a $0.37 dividend. The ex-dividend date was Friday, May 31st. This represents a $1.48 annualized dividend and a dividend yield of 4.70%. Nordstrom’s dividend payout ratio is 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.

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Institutional Ownership by Quarter for Nordstrom (NYSE:JWN)

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