Kovitz Investment Group Partners LLC Sells 3,818 Shares of Nordstrom, Inc. (NYSE:JWN)

Kovitz Investment Group Partners LLC lessened its holdings in shares of Nordstrom, Inc. (NYSE:JWN) by 2.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 171,584 shares of the specialty retailer’s stock after selling 3,818 shares during the quarter. Kovitz Investment Group Partners LLC owned approximately 0.10% of Nordstrom worth $3,876,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of the business. Atlas Capital Advisors LLC lifted its position in Nordstrom by 101.8% during the second quarter. Atlas Capital Advisors LLC now owns 1,491 shares of the specialty retailer’s stock valued at $32,000 after purchasing an additional 752 shares in the last quarter. State of Alaska Department of Revenue increased its position in Nordstrom by 7.3% in the third quarter. State of Alaska Department of Revenue now owns 11,236 shares of the specialty retailer’s stock worth $252,000 after buying an additional 760 shares in the last quarter. Stephens Inc. AR raised its stake in shares of Nordstrom by 0.5% in the third quarter. Stephens Inc. AR now owns 153,061 shares of the specialty retailer’s stock worth $3,442,000 after buying an additional 805 shares during the period. CWM LLC lifted its position in shares of Nordstrom by 28.7% during the 3rd quarter. CWM LLC now owns 3,628 shares of the specialty retailer’s stock valued at $82,000 after buying an additional 810 shares in the last quarter. Finally, Venturi Wealth Management LLC grew its stake in shares of Nordstrom by 355.9% during the 3rd quarter. Venturi Wealth Management LLC now owns 1,272 shares of the specialty retailer’s stock valued at $29,000 after acquiring an additional 993 shares during the period. Institutional investors own 88.73% of the company’s stock.

Insider Transactions at Nordstrom

In other news, COO Alexis Depree sold 20,000 shares of the firm’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 completion of the sale, the chief operating officer now directly owns 169,331 shares of the company’s stock, valued at $3,928,479.20. This trade represents a 10.56 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 5.78% of the company’s stock.

Analyst Upgrades and Downgrades

JWN has been the topic of a number of recent analyst reports. Evercore ISI raised their target price on shares of Nordstrom from $20.00 to $22.00 and gave the stock an “in-line” rating in a research note on Wednesday, November 27th. Barclays raised shares of Nordstrom from an “underweight” rating to an “equal weight” rating and increased their price objective for the stock from $18.00 to $23.00 in a research note on Thursday, September 5th. JPMorgan Chase & Co. lifted their target price on shares of Nordstrom from $19.00 to $20.00 and gave the company an “underweight” rating in a research note on Wednesday, August 28th. Citigroup increased their price target on Nordstrom from $22.00 to $23.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 19th. Finally, 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 research report on Wednesday, November 27th. Three equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $21.29.

Nordstrom Price Performance

Shares of Nordstrom stock opened at $23.19 on Monday. The firm has a market cap of $3.81 billion, a PE ratio of 14.77 and a beta of 2.56. The stock has a 50 day moving average of $22.92 and a 200 day moving average of $22.33. 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 12 month low of $15.12 and a 12 month high of $24.99.

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

Nordstrom Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Tuesday, December 3rd will be paid 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 3.28%. Nordstrom’s payout ratio is currently 48.41%.

Nordstrom 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.