Sentry Investment Management LLC Decreases Position in Nordstrom, Inc. (JWN)

Sentry Investment Management LLC cut its holdings in Nordstrom, Inc. (NYSE:JWN) by 8.2% during the 1st quarter, HoldingsChannel reports. The fund owned 6,425 shares of the specialty retailer’s stock after selling 574 shares during the quarter. Sentry Investment Management LLC’s holdings in Nordstrom were worth $285,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in JWN. Great Lakes Advisors LLC grew its stake in Nordstrom by 174.9% during the first quarter. Great Lakes Advisors LLC now owns 81,904 shares of the specialty retailer’s stock worth $3,635,000 after buying an additional 52,110 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Nordstrom by 23.0% in the 1st quarter. JPMorgan Chase & Co. now owns 7,339,382 shares of the specialty retailer’s stock valued at $325,721,000 after purchasing an additional 1,374,779 shares in the last quarter. Murphy Pohlad Asset Management LLC boosted its stake in shares of Nordstrom by 15.7% in the 1st quarter. Murphy Pohlad Asset Management LLC now owns 47,050 shares of the specialty retailer’s stock valued at $2,088,000 after purchasing an additional 6,375 shares in the last quarter. Hanson McClain Inc. raised its holdings in Nordstrom by 61.1% in the 1st quarter. Hanson McClain Inc. now owns 1,450 shares of the specialty retailer’s stock valued at $64,000 after buying an additional 550 shares during the last quarter. Finally, Asahi Life Asset Management CO. LTD. bought a new position in Nordstrom in the 1st quarter valued at approximately $198,000. Institutional investors and hedge funds own 62.27% of the company’s stock.

JWN has been the subject of a number of research reports. Deutsche Bank lowered shares of Nordstrom from a “buy” rating to a “hold” rating and set a $43.30 price objective for the company. in a report on Friday, February 22nd. Guggenheim reiterated a “hold” rating on shares of Nordstrom in a report on Thursday, February 28th. Citigroup raised their price objective on shares of Nordstrom from $45.00 to $48.00 and gave the company a “neutral” rating in a report on Friday, March 1st. Bank of America set a $48.00 price objective on shares of Nordstrom and gave the company a “sell” rating in a report on Friday, March 1st. Finally, Piper Jaffray Companies set a $44.00 price objective on shares of Nordstrom and gave the company a “hold” rating in a report on Friday, March 1st. Five research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and three have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $43.73.

Nordstrom stock opened at $33.50 on Monday. The company has a debt-to-equity ratio of 6.34, a current ratio of 0.76 and a quick ratio of 0.24. Nordstrom, Inc. has a 52-week low of $33.75 and a 52-week high of $67.75. The company has a market cap of $5.19 billion, a price-to-earnings ratio of 9.44, a PEG ratio of 1.67 and a beta of 0.48.

Nordstrom (NYSE:JWN) last released its quarterly earnings results on Tuesday, May 21st. The specialty retailer reported $0.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.43 by ($0.20). Nordstrom had a return on equity of 58.16% and a net margin of 3.27%. The firm had revenue of $3.44 billion for the quarter, compared to the consensus estimate of $3.54 billion. During the same quarter in the previous year, the business posted $0.51 EPS. Analysts forecast that Nordstrom, Inc. will post 3.35 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 18th. Shareholders of record on Monday, June 3rd will be issued a dividend of $0.37 per share. The ex-dividend date is Friday, May 31st. This represents a $1.48 annualized dividend and a yield of 4.42%. Nordstrom’s payout ratio is 41.69%.

In other news, insider Ken Worzel sold 17,125 shares of Nordstrom stock in a transaction on Thursday, March 28th. The shares were sold at an average price of $45.00, for a total value of $770,625.00. Following the completion of the sale, the insider now owns 102,588 shares in the company, valued at approximately $4,616,460. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Erik B. Nordstrom sold 17,762 shares of Nordstrom stock in a transaction on Monday, March 11th. The shares were sold at an average price of $44.07, for a total transaction of $782,771.34. Following the completion of the sale, the insider now owns 2,653,314 shares of the company’s stock, valued at approximately $116,931,547.98. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 48,011 shares of company stock valued at $2,112,610. Company insiders own 5.21% of the company’s stock.

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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. It offers a range of brand name and private label merchandise through various channels, such as Nordstrom branded full-line stores and online store at Nordstrom.com; Nordstrom Rack stores; Nordstromrack.com and HauteLook; Jeffrey boutiques; clearance stores that operate under the Last Chance name; Trunk Club clubhouses and TrunkClub.com; and Nordstrom Locals.

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Institutional Ownership by Quarter for Nordstrom (NYSE:JWN)

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