IFP Advisors Inc Sells 5,169 Shares of Nordstrom, Inc. (NYSE:JWN)

IFP Advisors Inc trimmed its position in shares of Nordstrom, Inc. (NYSE:JWN) by 27.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 13,668 shares of the specialty retailer’s stock after selling 5,169 shares during the period. IFP Advisors Inc’s holdings in Nordstrom were worth $332,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of JWN. Hennessy Advisors Inc. bought a new stake in Nordstrom during the fourth quarter valued at about $56,026,000. Verition Fund Management LLC lifted its stake in shares of Nordstrom by 147.4% in the third quarter. Verition Fund Management LLC now owns 1,218,365 shares of the specialty retailer’s stock valued at $27,401,000 after buying an additional 725,803 shares during the period. Hotchkis & Wiley Capital Management LLC bought a new stake in shares of Nordstrom in the third quarter valued at about $6,171,000. Charles Schwab Investment Management Inc. lifted its stake in shares of Nordstrom by 17.1% in the third 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. Finally, JPMorgan Chase & Co. lifted its stake in shares of Nordstrom by 29.7% in the third quarter. JPMorgan Chase & Co. now owns 388,796 shares of the specialty retailer’s stock valued at $8,744,000 after buying an additional 89,114 shares during the period. 88.73% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on JWN shares. Bank of America increased their target price on shares of Nordstrom from $20.00 to $22.00 and gave the company an “underperform” rating in a research note on Wednesday, November 27th. UBS Group upgraded shares of Nordstrom from a “sell” rating to a “neutral” rating and increased their target price for the company from $14.50 to $24.00 in a research note on Friday, January 10th. Telsey Advisory Group reiterated a “market perform” rating and issued a $24.00 target price on shares of Nordstrom in a research note on Tuesday, February 25th. Barclays increased their target price on shares of Nordstrom from $23.00 to $24.00 and gave the company an “equal weight” rating in a research note on Thursday, January 16th. Finally, Citigroup increased their target price on shares of Nordstrom from $22.00 to $23.00 and gave the company a “neutral” rating in a research note on Tuesday, November 19th. Three research analysts have rated the stock with a sell rating, eleven have issued a hold rating and one has issued a buy rating to the stock. According to MarketBeat, Nordstrom presently has an average rating of “Hold” and an average target price of $22.17.

Nordstrom Stock Performance

NYSE JWN opened at $24.29 on Friday. The firm has a market cap of $4.01 billion, a price-to-earnings ratio of 15.47 and a beta of 2.51. The company has a 50 day moving average of $24.22 and a 200-day moving average of $23.26. The company has a current ratio of 1.14, a quick ratio of 0.35 and a debt-to-equity ratio of 2.65. Nordstrom, Inc. has a 1-year low of $16.78 and a 1-year high of $24.99.

Nordstrom Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 26th. Stockholders of record on Tuesday, March 11th will be issued a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 3.13%. The ex-dividend date of this dividend is Tuesday, March 11th. Nordstrom’s payout ratio is 48.41%.

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.