Clifford Swan Investment Counsel LLC Lowers Stake in Nordstrom, Inc. (NYSE:JWN)

Clifford Swan Investment Counsel LLC lowered its holdings in shares of Nordstrom, Inc. (NYSE:JWN) by 3.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 56,897 shares of the specialty retailer’s stock after selling 2,290 shares during the period. Clifford Swan Investment Counsel LLC’s holdings in Nordstrom were worth $1,207,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Register Financial Advisors LLC bought a new stake in Nordstrom during the 1st quarter valued at about $30,000. Atlas Capital Advisors LLC raised its holdings in Nordstrom by 101.8% in the 2nd quarter. Atlas Capital Advisors LLC now owns 1,491 shares of the specialty retailer’s stock worth $32,000 after acquiring an additional 752 shares during the last quarter. Rothschild Investment LLC bought a new position in Nordstrom in the 2nd quarter valued at approximately $39,000. Spire Wealth Management boosted its stake in Nordstrom by 100.0% during the 1st quarter. Spire Wealth Management now owns 2,200 shares of the specialty retailer’s stock valued at $45,000 after purchasing an additional 1,100 shares during the last quarter. Finally, Blue Trust Inc. boosted its stake in Nordstrom by 10,045.8% during the 2nd quarter. Blue Trust Inc. now owns 2,435 shares of the specialty retailer’s stock valued at $49,000 after purchasing an additional 2,411 shares during the last quarter. Hedge funds and other institutional investors own 88.73% of the company’s stock.

Nordstrom Stock Down 3.2 %

Shares of JWN opened at $22.08 on Tuesday. The firm has a fifty day moving average price of $22.11 and a 200-day moving average price of $20.81. The company has a current ratio of 1.07, a quick ratio of 0.41 and a debt-to-equity ratio of 2.76. The firm has a market capitalization of $3.63 billion, a P/E ratio of 12.07, a P/E/G ratio of 2.48 and a beta of 2.61. Nordstrom, Inc. has a 12-month low of $12.88 and a 12-month high of $24.03.

Nordstrom (NYSE:JWN) last announced its quarterly earnings data on Tuesday, August 27th. The specialty retailer reported $0.96 earnings per share for the quarter, beating analysts’ consensus estimates of $0.71 by $0.25. The company had revenue of $3.89 billion during the quarter, compared to analyst estimates of $3.88 billion. Nordstrom had a negative net margin of 1.44% and a negative return on equity of 21.26%. The firm’s revenue for the quarter was up 3.2% on a year-over-year basis. During the same quarter last year, the business posted $0.84 EPS. Equities research analysts expect that Nordstrom, Inc. will post 1.89 earnings per share for the current year.

Nordstrom Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 18th. Investors of record on Tuesday, September 3rd will be paid a $0.19 dividend. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $0.76 annualized dividend and a yield of 3.44%. Nordstrom’s dividend payout ratio (DPR) is currently 41.53%.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the stock. Bank of America upped their target price on shares of Nordstrom from $18.00 to $20.00 and gave the company an “underperform” rating in a research note on Wednesday, August 28th. Barclays upgraded shares of Nordstrom from an “underweight” rating to an “equal weight” rating and increased their price objective for the company from $18.00 to $23.00 in a research report on Thursday, September 5th. Telsey Advisory Group lifted their target price on shares of Nordstrom from $23.00 to $24.00 and gave the stock a “market perform” rating in a research report on Wednesday, August 28th. TD Cowen increased their price target on Nordstrom from $24.00 to $25.00 and gave the company a “hold” rating in a report on Wednesday, August 28th. Finally, BMO Capital Markets raised their price target on Nordstrom from $20.00 to $22.00 and gave the stock a “market perform” rating in a research note on Wednesday, August 28th. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $20.23.

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.