NN Investment Partners Holdings N.V. Sells 6,432 Shares of Nordstrom, Inc. (JWN)

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NN Investment Partners Holdings N.V. lowered its stake in Nordstrom, Inc. (NYSE:JWN) by 30.5% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 14,688 shares of the specialty retailer’s stock after selling 6,432 shares during the period. NN Investment Partners Holdings N.V.’s holdings in Nordstrom were worth $878,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of JWN. Bank of Montreal Can purchased a new stake in shares of Nordstrom in the 2nd quarter worth approximately $50,353,000. United Services Automobile Association grew its stake in shares of Nordstrom by 1,958.0% in the 2nd quarter. United Services Automobile Association now owns 889,797 shares of the specialty retailer’s stock worth $46,074,000 after buying an additional 846,560 shares during the last quarter. Millennium Management LLC grew its stake in shares of Nordstrom by 199.1% in the 2nd quarter. Millennium Management LLC now owns 945,422 shares of the specialty retailer’s stock worth $48,954,000 after buying an additional 629,307 shares during the last quarter. BlackRock Inc. grew its stake in shares of Nordstrom by 7.1% in the 2nd quarter. BlackRock Inc. now owns 8,931,836 shares of the specialty retailer’s stock worth $462,490,000 after buying an additional 592,278 shares during the last quarter. Finally, Worldquant Millennium Quantitative Strategies LLC purchased a new stake in shares of Nordstrom in the 2nd quarter worth approximately $24,713,000. Institutional investors own 55.85% of the company’s stock.

In related news, insider Christine Deputy sold 11,534 shares of the firm’s stock in a transaction on Monday, September 10th. The stock was sold at an average price of $65.87, for a total value of $759,744.58. Following the transaction, the insider now directly owns 76,463 shares of the company’s stock, valued at approximately $5,036,617.81. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP Robert Sari sold 8,795 shares of the firm’s stock in a transaction on Wednesday, October 10th. The stock was sold at an average price of $62.50, for a total value of $549,687.50. Following the completion of the transaction, the vice president now directly owns 14,960 shares in the company, valued at $935,000. The disclosure for this sale can be found here. Insiders have sold a total of 208,275 shares of company stock worth $13,048,270 over the last three months. Insiders own 7.05% of the company’s stock.

JWN has been the topic of several recent analyst reports. Royal Bank of Canada set a $55.00 target price on Nordstrom and gave the company a “hold” rating in a research note on Friday, August 17th. Goldman Sachs Group initiated coverage on Nordstrom in a research note on Monday, September 3rd. They set a “buy” rating and a $73.00 target price on the stock. Nomura increased their target price on Nordstrom from $53.00 to $54.00 and gave the company a “neutral” rating in a research note on Thursday, July 12th. Wedbush upgraded Nordstrom from a “neutral” rating to an “outperform” rating and increased their target price for the company from $55.00 to $75.00 in a research note on Tuesday, October 30th. Finally, Credit Suisse Group increased their target price on Nordstrom from $50.00 to $52.00 and gave the company a “neutral” rating in a research note on Wednesday, July 11th. Three analysts have rated the stock with a sell rating, thirteen have issued a hold rating and seven have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $56.50.

NYSE JWN opened at $67.46 on Wednesday. The firm has a market cap of $11.21 billion, a PE ratio of 22.79, a PEG ratio of 3.10 and a beta of 0.59. The company has a current ratio of 1.10, a quick ratio of 0.54 and a debt-to-equity ratio of 2.35. Nordstrom, Inc. has a 1-year low of $37.79 and a 1-year high of $67.75.

Nordstrom (NYSE:JWN) last released its quarterly earnings results on Thursday, August 16th. The specialty retailer reported $0.95 earnings per share for the quarter, beating the consensus estimate of $0.84 by $0.11. The firm had revenue of $3.98 billion for the quarter, compared to analysts’ expectations of $3.96 billion. Nordstrom had a return on equity of 56.00% and a net margin of 3.24%. The company’s revenue was up 7.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.65 EPS. As a group, analysts forecast that Nordstrom, Inc. will post 3.57 EPS for the current fiscal year.

Nordstrom declared that its Board of Directors has approved a share buyback program on Wednesday, August 22nd that authorizes the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization authorizes the specialty retailer to repurchase up to 14.4% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s board believes its shares are undervalued.

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Nordstrom Company Profile

Nordstrom, Inc, a fashion retailer, provides apparel, shoes, cosmetics, and accessories for women, men, young adults, and children in the United States and Canada. The company operates in two segments, Retail and Credit. The Retail segment offers a range of brand name and private label merchandise through various channels, including Nordstrom branded full-line stores and online store at Nordstrom.com; Nordstrom Rack stores; Nordstromrack.com and HauteLook; Trunk Club clubhouses and TrunkClub.com; Jeffrey boutiques; and clearance stores that operate under the Last Chance name.

See Also: How can you know how many shares are floating?

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Institutional Ownership by Quarter for Nordstrom (NYSE:JWN)

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