Franklin Resources Inc. Buys 11,483 Shares of Nordstrom, Inc. (NYSE:JWN)

Franklin Resources Inc. grew its holdings in Nordstrom, Inc. (NYSE:JWN - Free Report) by 22.8% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 61,777 shares of the specialty retailer's stock after acquiring an additional 11,483 shares during the period. Franklin Resources Inc.'s holdings in Nordstrom were worth $1,492,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the business. American Century Companies Inc. raised its holdings in Nordstrom by 18.3% during the fourth 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. acquired a new position in shares of Nordstrom during the 4th quarter valued at about $56,026,000. Charles Schwab Investment Management Inc. raised its stake in shares of Nordstrom by 20.4% in the 4th 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 in the last quarter. Geode Capital Management LLC boosted its position in Nordstrom by 0.3% during the third quarter. Geode Capital Management LLC now owns 1,625,616 shares of the specialty retailer's stock worth $36,570,000 after purchasing an additional 5,407 shares during the period. Finally, Norges Bank acquired a new position in Nordstrom during the fourth quarter valued at approximately $33,480,000. Institutional investors and hedge funds own 88.73% of the company's stock.

Analysts Set New Price Targets

JWN has been the subject of several recent analyst reports. Evercore ISI upped their price objective on shares of Nordstrom from $22.00 to $24.00 and gave the stock an "in-line" rating in a report on Monday, January 13th. Telsey Advisory Group restated a "market perform" rating and set a $24.00 price target on shares of Nordstrom in a report on Wednesday, March 5th. UBS Group upgraded Nordstrom from a "sell" rating to a "neutral" rating and lifted their price objective for the stock from $14.50 to $24.00 in a research note on Friday, January 10th. Barclays increased their target price on Nordstrom from $23.00 to $24.00 and gave the company an "equal weight" rating in a research note on Thursday, January 16th. Finally, StockNews.com initiated coverage on Nordstrom in a research report on Wednesday. They issued a "buy" rating on the stock. Four investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, Nordstrom has a consensus rating of "Hold" and a consensus target price of $22.80.

Nordstrom Price Performance

Shares of NYSE:JWN traded down $0.00 on Friday, hitting $23.86. The stock had a trading volume of 1,779,981 shares, compared to its average volume of 2,592,997. The company has a market capitalization of $3.99 billion, a price-to-earnings ratio of 15.20 and a beta of 2.31. The company has a debt-to-equity ratio of 2.65, a quick ratio of 0.35 and a current ratio of 1.14. The firm's 50 day moving average price is $24.16 and its 200-day moving average price is $23.72. Nordstrom, Inc. has a twelve month low of $18.52 and a twelve month high of $24.99.

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

Nordstrom Company 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.