Nordstrom, Inc. (NYSE:JWN) Shares Bought by Point72 DIFC Ltd

Point72 DIFC Ltd boosted its position in shares of Nordstrom, Inc. (NYSE:JWN) by 17.4% in the third quarter, HoldingsChannel.com reports. The fund owned 64,960 shares of the specialty retailer’s stock after acquiring an additional 9,613 shares during the quarter. Point72 DIFC Ltd’s holdings in Nordstrom were worth $1,461,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Cyndeo Wealth Partners LLC acquired a new stake in Nordstrom during the 3rd quarter worth about $6,248,000. Charles Schwab Investment Management Inc. lifted its holdings in shares of Nordstrom by 17.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,422,856 shares of the specialty retailer’s stock valued at $32,000,000 after buying an additional 208,193 shares during the period. Olympiad Research LP acquired a new position in shares of Nordstrom in the 3rd quarter valued at about $508,000. Comerica Bank lifted its holdings in shares of Nordstrom by 59.9% in the 1st quarter. Comerica Bank now owns 75,806 shares of the specialty retailer’s stock valued at $1,537,000 after buying an additional 28,411 shares during the period. Finally, American Century Companies Inc. lifted its holdings in shares of Nordstrom by 66.2% in the 2nd quarter. American Century Companies Inc. now owns 1,661,227 shares of the specialty retailer’s stock valued at $35,251,000 after buying an additional 661,769 shares during the period. Institutional investors and hedge funds own 88.73% of the company’s stock.

Insider Activity

In related news, COO Alexis Depree sold 20,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 24th. The stock was sold at an average price of $23.20, for a total value of $464,000.00. Following the transaction, the chief operating officer now directly owns 169,331 shares in the company, valued at approximately $3,928,479.20. This represents a 10.56 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 5.78% of the company’s stock.

Wall Street Analyst Weigh In

JWN has been the subject of several analyst reports. Telsey Advisory Group boosted their price objective on Nordstrom from $24.00 to $26.00 and gave the company a “market perform” rating in a report on Wednesday, November 27th. UBS Group boosted their price objective on Nordstrom from $13.00 to $14.50 and gave the company a “sell” rating in a report on Wednesday, November 27th. StockNews.com cut Nordstrom from a “strong-buy” rating to a “buy” rating in a report on Thursday. BMO Capital Markets upped their price target on Nordstrom from $20.00 to $22.00 and gave the stock a “market perform” rating in a report on Wednesday, August 28th. Finally, TD Cowen upped their price target on Nordstrom from $24.00 to $25.00 and gave the stock a “hold” rating in a report on Wednesday, August 28th. Three equities research analysts have rated the stock with a sell rating, ten have given a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, Nordstrom has an average rating of “Hold” and an average price target of $21.29.

Nordstrom Price Performance

JWN stock opened at $23.99 on Thursday. The company has a debt-to-equity ratio of 2.65, a current ratio of 1.14 and a quick ratio of 0.35. The business has a 50 day simple moving average of $22.88 and a 200-day simple moving average of $22.29. The firm has a market capitalization of $3.94 billion, a PE ratio of 15.28 and a beta of 2.56. Nordstrom, Inc. has a 1 year low of $15.08 and a 1 year high of $24.99.

Nordstrom (NYSE:JWN) last posted its quarterly earnings results on Tuesday, November 26th. The specialty retailer reported $0.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.22 by $0.11. The business had revenue of $3.35 billion during the quarter, compared to analyst estimates of $3.34 billion. Nordstrom had a negative return on equity of 18.04% and a negative net margin of 1.57%. The business’s revenue was up 4.6% compared to the same quarter last year. During the same period in the prior year, the business earned $0.25 earnings per share. Equities research analysts anticipate that Nordstrom, Inc. will post 1.93 earnings per share for the current fiscal year.

Nordstrom Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Tuesday, December 3rd will be given a $0.19 dividend. The ex-dividend date is Tuesday, December 3rd. This represents a $0.76 dividend on an annualized basis and a dividend yield of 3.17%. Nordstrom’s dividend payout ratio (DPR) is presently 48.41%.

About Nordstrom

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.