Madison Investment Advisors LLC Makes New Investment in Nordstrom, Inc. (NYSE:JWN)

Madison Investment Advisors LLC purchased a new stake in Nordstrom, Inc. (NYSE:JWN - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 156,000 shares of the specialty retailer's stock, valued at approximately $3,767,000. Madison Investment Advisors LLC owned approximately 0.09% of Nordstrom at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Spire Wealth Management boosted its stake in Nordstrom by 90.9% during the fourth quarter. Spire Wealth Management now owns 2,100 shares of the specialty retailer's stock worth $51,000 after buying an additional 1,000 shares during the last quarter. Wolverine Asset Management LLC purchased a new position in shares of Nordstrom during the 4th quarter worth $63,000. Vestcor Inc acquired a new position in shares of Nordstrom during the 4th quarter valued at about $63,000. KBC Group NV grew its holdings in shares of Nordstrom by 36.5% in the fourth quarter. KBC Group NV now owns 4,816 shares of the specialty retailer's stock valued at $116,000 after purchasing an additional 1,287 shares during the period. Finally, Kentucky Retirement Systems Insurance Trust Fund acquired a new stake in Nordstrom during the fourth quarter worth about $122,000. Institutional investors and hedge funds own 88.73% of the company's stock.

Nordstrom Trading Up 0.3 %

NYSE JWN traded up $0.08 during trading on Wednesday, hitting $24.45. The stock had a trading volume of 1,715,328 shares, compared to its average volume of 2,472,730. 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 has a market capitalization of $4.03 billion, a PE ratio of 15.57 and a beta of 2.60. The firm has a 50 day moving average price of $24.27 and a 200 day moving average price of $23.53. Nordstrom, Inc. has a twelve month low of $17.21 and a twelve month high of $24.99.

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Nordstrom (NYSE:JWN - Get Free Report) last posted its quarterly earnings data on Tuesday, March 4th. The specialty retailer reported $1.10 earnings per share for the quarter, topping analysts' consensus estimates of $0.90 by $0.20. The business had revenue of $4.32 billion for the quarter, compared to analyst estimates of $4.32 billion. Nordstrom had a negative return on equity of 18.04% and a negative net margin of 1.57%. As a group, equities research analysts forecast that Nordstrom, Inc. will post 1.97 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on JWN shares. UBS Group upgraded shares of Nordstrom from a "sell" rating to a "neutral" rating and boosted their target price for the company from $14.50 to $24.00 in a report on Friday, January 10th. Evercore ISI increased their price objective on Nordstrom from $22.00 to $24.00 and gave the stock an "in-line" rating in a research report on Monday, January 13th. Bank of America lifted their target price on Nordstrom from $20.00 to $22.00 and gave the company an "underperform" rating in a research report on Wednesday, November 27th. Telsey Advisory Group reaffirmed a "market perform" rating and issued a $24.00 price target on shares of Nordstrom in a research note on Wednesday, March 5th. Finally, Barclays raised their price objective on Nordstrom from $23.00 to $24.00 and gave the stock an "equal weight" rating in a research report on Thursday, January 16th. Three analysts have rated the stock with a sell rating, nine have given a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, Nordstrom currently has a consensus rating of "Hold" and a consensus price target of $22.90.

Nordstrom Profile

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.