American International Group Inc. Decreases Stock Holdings in Nordstrom, Inc. (NYSE:JWN) (2024)

Posted by Defense World Staff on Jun 26th, 2024

American International Group Inc. lowered its position in shares of Nordstrom, Inc. (NYSE:JWN – Free Report) by 4.0% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 131,175 shares of the specialty retailer’s stock after selling 5,487 shares during the period. American International Group Inc. owned about 0.08% of Nordstrom worth $2,420,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Personal CFO Solutions LLC raised its stake in shares of Nordstrom by 5.7% during the fourth quarter. Personal CFO Solutions LLC now owns 11,882 shares of the specialty retailer’s stock valued at $219,000 after acquiring an additional 636 shares during the last quarter. Envestnet Portfolio Solutions Inc. grew its stake in shares of Nordstrom by 4.5% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 18,604 shares of the specialty retailer’s stock worth $343,000 after purchasing an additional 802 shares during the last quarter. Hexagon Capital Partners LLC grew its stake in shares of Nordstrom by 77.6% in the fourth quarter. Hexagon Capital Partners LLC now owns 1,989 shares of the specialty retailer’s stock worth $37,000 after purchasing an additional 869 shares during the last quarter. Sowell Financial Services LLC grew its stake in shares of Nordstrom by 6.6% in the fourth quarter. Sowell Financial Services LLC now owns 17,097 shares of the specialty retailer’s stock worth $315,000 after purchasing an additional 1,053 shares during the last quarter. Finally, Alps Advisors Inc. grew its stake in shares of Nordstrom by 5.3% in the third quarter. Alps Advisors Inc. now owns 35,352 shares of the specialty retailer’s stock worth $528,000 after purchasing an additional 1,768 shares during the last quarter. Institutional investors own 88.73% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently issued reports on JWN shares. StockNews.com cut Nordstrom from a “buy” rating to a “hold” rating in a research note on Tuesday. Evercore ISI raised their target price on Nordstrom from $17.00 to $19.00 and gave the stock an “in-line” rating in a research note on Friday, May 31st. Jefferies Financial Group reissued a “hold” rating and issued a $17.00 target price (down from $18.00) on shares of Nordstrom in a research note on Thursday, March 7th. Piper Sandler raised their price objective on shares of Nordstrom from $17.00 to $20.00 and gave the stock a “neutral” rating in a report on Wednesday, March 6th. Finally, Barclays raised their price objective on shares of Nordstrom from $15.00 to $18.00 and gave the stock an “underweight” rating in a report on Friday, May 31st. Five investment analysts have rated the stock with a sell rating, seven have issued a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $17.42.

Check Out Our Latest Analysis on JWN

Nordstrom Price Performance

JWN stock opened at $21.09 on Wednesday. The firm has a 50 day moving average price of $20.76 and a 200-day moving average price of $19.50. Nordstrom, Inc. has a 52-week low of $12.88 and a 52-week high of $23.54. The firm has a market capitalization of $3.45 billion, a price-to-earnings ratio of 11.52, a PEG ratio of 2.44 and a beta of 2.58. The company has a debt-to-equity ratio of 3.13, a quick ratio of 0.36 and a current ratio of 1.03.

Nordstrom (NYSE:JWN – Get Free Report) last released its earnings results on Thursday, May 30th. The specialty retailer reported ($0.24) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.08) by ($0.16). Nordstrom had a negative net margin of 1.35% and a negative return on equity of 26.45%. The business had revenue of $3.34 billion for the quarter, compared to analysts’ expectations of $3.19 billion. During the same quarter in the previous year, the business posted $0.07 earnings per share. Nordstrom’s revenue for the quarter was up 4.8% on a year-over-year basis. Equities research analysts forecast that Nordstrom, Inc. will post 1.79 EPS for the current fiscal year.

Nordstrom Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 19th. Investors of record on Tuesday, June 4th were issued a $0.19 dividend. The ex-dividend date was Tuesday, June 4th. This represents a $0.76 dividend on an annualized basis and a yield of 3.60%. Nordstrom’s payout ratio is currently 41.53%.

About Nordstrom

(Free Report)

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.

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