Coldstream Capital Management Inc. Trims Holdings in Nordstrom, Inc. (NYSE:JWN)

Coldstream Capital Management Inc. lessened its stake in Nordstrom, Inc. (NYSE:JWN) by 8.4% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 9,952 shares of the specialty retailer’s stock after selling 917 shares during the period. Coldstream Capital Management Inc.’s holdings in Nordstrom were worth $224,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Verition Fund Management LLC grew its holdings in Nordstrom by 147.4% during the 3rd quarter. Verition Fund Management LLC now owns 1,218,365 shares of the specialty retailer’s stock worth $27,401,000 after acquiring an additional 725,803 shares in the last quarter. American Century Companies Inc. lifted its position in shares of Nordstrom by 66.2% during the second quarter. American Century Companies Inc. now owns 1,661,227 shares of the specialty retailer’s stock worth $35,251,000 after purchasing an additional 661,769 shares during the last quarter. Marshall Wace LLP grew its stake in Nordstrom by 38.4% in the second quarter. Marshall Wace LLP now owns 1,479,414 shares of the specialty retailer’s stock worth $31,393,000 after purchasing an additional 410,152 shares in the last quarter. NewSquare Capital LLC bought a new stake in Nordstrom in the second quarter valued at about $7,783,000. Finally, Axiom Advisory LLC increased its holdings in Nordstrom by 46.0% in the third quarter. Axiom Advisory LLC now owns 1,100,864 shares of the specialty retailer’s stock valued at $24,456,000 after buying an additional 346,994 shares during the last quarter. 88.73% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, COO Alexis Depree sold 20,000 shares of the stock in a transaction that occurred on Tuesday, September 24th. The shares were sold at an average price of $23.20, for a total value of $464,000.00. Following the completion of the transaction, the chief operating officer now directly owns 169,331 shares in the company, valued at $3,928,479.20. This trade 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. Corporate insiders own 5.78% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have commented on JWN. Telsey Advisory Group increased their target price on Nordstrom from $24.00 to $26.00 and gave the stock a “market perform” rating in a report on Wednesday, November 27th. StockNews.com cut Nordstrom from a “strong-buy” rating to a “buy” rating in a research note on Thursday, December 5th. UBS Group lifted their price objective on shares of Nordstrom from $13.00 to $14.50 and gave the stock a “sell” rating in a report on Wednesday, November 27th. Bank of America increased their target price on shares of Nordstrom from $20.00 to $22.00 and gave the stock an “underperform” rating in a report on Wednesday, November 27th. Finally, Evercore ISI lifted their price target on shares of Nordstrom from $20.00 to $22.00 and gave the company an “in-line” rating in a report on Wednesday, November 27th. Three analysts have rated the stock with a sell rating, ten have issued a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, Nordstrom currently has a consensus rating of “Hold” and an average price target of $21.29.

Nordstrom Trading Up 0.8 %

Shares of NYSE:JWN opened at $23.36 on Tuesday. The company has a quick ratio of 0.35, a current ratio of 1.14 and a debt-to-equity ratio of 2.65. The company’s 50-day moving average price is $23.05 and its 200 day moving average price is $22.39. The company has a market cap of $3.85 billion, a PE ratio of 14.88 and a beta of 2.56. Nordstrom, Inc. has a fifty-two week low of $16.63 and a fifty-two week high of $24.99.

Nordstrom (NYSE:JWN) last released its quarterly earnings results on Tuesday, November 26th. The specialty retailer reported $0.33 earnings per share 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 company had revenue of $3.35 billion for the quarter, compared to analysts’ expectations of $3.34 billion. During the same quarter in the previous year, the company posted $0.25 earnings per share. The business’s revenue for the quarter was up 4.6% compared to the same quarter last year. Sell-side analysts anticipate that Nordstrom, Inc. will post 1.94 earnings per share for the current year.

Nordstrom Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Tuesday, December 3rd will be paid a $0.19 dividend. The ex-dividend date of this dividend is Tuesday, December 3rd. This represents a $0.76 annualized dividend and a dividend yield of 3.25%. Nordstrom’s payout ratio is 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.