First Trust Advisors LP increased its holdings in shares of Nordstrom, Inc. (NYSE:JWN - Free Report) by 31.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 783,008 shares of the specialty retailer's stock after purchasing an additional 187,874 shares during the period. First Trust Advisors LP owned 0.47% of Nordstrom worth $18,910,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Canada Pension Plan Investment Board increased its holdings in shares of Nordstrom by 10.4% in the fourth quarter. Canada Pension Plan Investment Board now owns 332,500 shares of the specialty retailer's stock valued at $8,030,000 after purchasing an additional 31,300 shares during the period. Marshall Wace LLP lifted its stake in shares of Nordstrom by 1.0% in the 4th quarter. Marshall Wace LLP now owns 1,682,882 shares of the specialty retailer's stock worth $40,642,000 after acquiring an additional 16,003 shares during the period. GABELLI & Co INVESTMENT ADVISERS INC. purchased a new stake in shares of Nordstrom in the fourth quarter valued at about $1,826,000. Gamco Investors INC. ET AL acquired a new position in shares of Nordstrom during the fourth quarter worth about $333,000. Finally, Gabelli Funds LLC purchased a new position in Nordstrom during the fourth quarter worth about $2,031,000. 88.73% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
JWN has been the topic of several recent analyst reports. Barclays boosted their target price on Nordstrom from $23.00 to $24.00 and gave the stock an "equal weight" rating in a research report on Thursday, January 16th. Evercore ISI boosted their price objective on shares of Nordstrom from $22.00 to $24.00 and gave the stock an "in-line" rating in a research report on Monday, January 13th. UBS Group raised Nordstrom from a "sell" rating to a "neutral" rating and raised their price target for the stock from $14.50 to $24.00 in a research report on Friday, January 10th. Citigroup reissued a "sell" rating and issued a $22.00 price objective (down previously from $25.00) on shares of Nordstrom in a research report on Friday, April 4th. Finally, Telsey Advisory Group reissued a "market perform" rating and issued a $24.00 price target on shares of Nordstrom in a research note on Wednesday, March 5th. Four investment analysts have rated the stock with a sell rating, eight have given a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $22.80.
Check Out Our Latest Analysis on Nordstrom
Nordstrom Stock Performance
JWN traded down $0.08 during trading hours on Tuesday, hitting $24.08. 1,381,161 shares of the stock were exchanged, compared to its average volume of 2,600,806. The stock has a market cap of $4.03 billion, a price-to-earnings ratio of 15.34 and a beta of 2.31. Nordstrom, Inc. has a 12 month low of $18.57 and a 12 month high of $24.99. The stock has a 50-day simple moving average of $24.13 and a 200-day simple moving average of $23.82. The company has a debt-to-equity ratio of 2.65, a current ratio of 1.14 and a quick ratio of 0.35.
Nordstrom (NYSE:JWN - Get Free Report) last released its quarterly earnings data on Tuesday, March 4th. The specialty retailer reported $1.10 earnings per share for the quarter, topping the consensus estimate of $0.90 by $0.20. Nordstrom had a negative net margin of 1.57% and a negative return on equity of 18.04%. The firm had revenue of $4.32 billion for the quarter, compared to analyst estimates of $4.32 billion. Analysts anticipate that Nordstrom, Inc. will post 1.97 earnings per share for the current year.
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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