Renaissance Technologies LLC Reduces Holdings in Nordstrom, Inc. (NYSE:JWN)
Renaissance Technologies LLC reduced its holdings in shares of Nordstrom, Inc. (NYSE:JWN) by 21.2% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,027,500 shares of the specialty retailer’s stock after selling 276,500 shares during the period. Renaissance Technologies LLC owned 0.66% of Nordstrom worth $32,736,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also modified their holdings of JWN. Geode Capital Management LLC lifted its position in Nordstrom by 5.1% during the 4th quarter. Geode Capital Management LLC now owns 1,650,673 shares of the specialty retailer’s stock valued at $76,815,000 after acquiring an additional 80,459 shares during the period. SG Americas Securities LLC increased its stake in Nordstrom by 164.7% during the 1st 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. increased its stake in Nordstrom by 420.5% during the 1st 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 increased its stake in Nordstrom by 4.8% during the 1st 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 stake in Nordstrom by 1.6% during the 1st quarter. Mn Services Vermogensbeheer B.V. now owns 64,077 shares of the specialty retailer’s stock valued at $2,844,000 after purchasing an additional 1,000 shares in the last quarter. 64.63% of the stock is owned by institutional investors.
Shares of JWN stock traded up $0.37 during trading hours 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 has a fifty day moving average price of $29.39 and a 200-day moving average price of $36.04. Nordstrom, Inc. has a one year low of $25.01 and a one year high of $67.75. The firm has a market cap of $5.30 billion, a PE ratio of 9.86, a price-to-earnings-growth ratio of 1.71 and a beta of 0.70. The company has a debt-to-equity ratio of 5.39, a quick ratio of 0.35 and a current ratio of 0.79.
The business also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Friday, August 30th will be paid a $0.37 dividend. The ex-dividend date of this dividend is Thursday, August 29th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 4.23%. Nordstrom’s dividend payout ratio is presently 41.69%.
A number of analysts have weighed in on JWN shares. Zacks Investment Research lowered shares of Nordstrom from a “hold” rating to a “strong sell” rating in a research note on Friday, May 24th. KeyCorp reduced their price objective on shares of Nordstrom from $52.00 to $48.00 and set an “overweight” rating for the company in a research note on Thursday, August 22nd. Telsey Advisory Group reduced their price objective on shares of Nordstrom from $35.00 to $32.00 and set a “market perform” rating for the company in a research note on Thursday, August 22nd. Gordon Haskett upgraded shares of Nordstrom from a “reduce” rating to a “hold” rating and set a $33.71 price objective for the company in a research note on Thursday, June 20th. Finally, Goldman Sachs Group lowered shares of Nordstrom from a “neutral” rating to a “sell” rating and reduced their price objective for the company from $37.00 to $30.00 in a research note on Thursday, June 27th. Five equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and one has issued a buy rating to the company. Nordstrom has a consensus rating of “Hold” and a consensus price target of $38.19.
In other news, insider Christine Deputy sold 1,906 shares of Nordstrom stock in a transaction that occurred on 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 in the company, valued at $1,623,727.89. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 5.21% of the company’s stock.
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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