Canada Pension Plan Investment Board Purchases 31,300 Shares of Nordstrom, Inc. (NYSE:JWN)

Canada Pension Plan Investment Board increased its holdings in shares of Nordstrom, Inc. (NYSE:JWN - Free Report) by 10.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 332,500 shares of the specialty retailer's stock after acquiring an additional 31,300 shares during the quarter. Canada Pension Plan Investment Board owned about 0.20% of Nordstrom worth $8,030,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Cooper Creek Partners Management LLC lifted its stake in Nordstrom by 11.0% during the fourth quarter. Cooper Creek Partners Management LLC now owns 3,757,847 shares of the specialty retailer's stock worth $90,752,000 after purchasing an additional 372,024 shares in the last quarter. American Century Companies Inc. boosted its holdings in shares of Nordstrom by 18.3% in the 4th quarter. American Century Companies Inc. now owns 2,912,254 shares of the specialty retailer's stock valued at $70,331,000 after buying an additional 450,539 shares in the last quarter. Hennessy Advisors Inc. purchased a new stake in shares of Nordstrom in the 4th quarter valued at about $56,026,000. Charles Schwab Investment Management Inc. boosted its holdings in shares of Nordstrom by 20.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,712,452 shares of the specialty retailer's stock valued at $41,356,000 after acquiring an additional 289,596 shares during the period. Finally, Marshall Wace LLP boosted its stake in Nordstrom by 1.0% during the 4th quarter. Marshall Wace LLP now owns 1,682,882 shares of the specialty retailer's stock worth $40,642,000 after purchasing an additional 16,003 shares during the period. 88.73% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on JWN. Citigroup reaffirmed a "sell" rating and issued a $22.00 price objective (down previously from $25.00) on shares of Nordstrom in a report on Friday, April 4th. Barclays upped their target price on shares of Nordstrom from $23.00 to $24.00 and gave the company an "equal weight" rating in a report on Thursday, January 16th. UBS Group raised shares of Nordstrom from a "sell" rating to a "neutral" rating and boosted their price objective for the company from $14.50 to $24.00 in a research note on Friday, January 10th. Evercore ISI upped their target price on Nordstrom from $22.00 to $24.00 and gave the stock an "in-line" rating in a research report on Monday, January 13th. Finally, Telsey Advisory Group restated a "market perform" rating and set a $24.00 price objective on shares of Nordstrom in a report on Wednesday, March 5th. Four analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $22.80.

Nordstrom Trading Down 0.3 %

Nordstrom stock traded down $0.07 during trading hours on Friday, reaching $24.16. 3,086,608 shares of the company's stock traded hands, compared to its average volume of 2,605,245. The firm's 50 day moving average is $24.14 and its 200-day moving average is $23.77. The firm has a market capitalization of $4.04 billion, a price-to-earnings ratio of 15.39 and a beta of 2.31. Nordstrom, Inc. has a fifty-two week low of $18.57 and a fifty-two week high of $24.99. The company has a debt-to-equity ratio of 2.65, a quick ratio of 0.35 and a current ratio of 1.14.

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

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.