Gabelli Funds LLC Makes New Investment in Nordstrom, Inc. (NYSE:JWN)

Gabelli Funds LLC bought a new position in Nordstrom, Inc. (NYSE:JWN - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 84,100 shares of the specialty retailer's stock, valued at approximately $2,031,000. Gabelli Funds LLC owned approximately 0.05% of Nordstrom at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in JWN. Cooper Creek Partners Management LLC raised its holdings in Nordstrom by 11.0% in 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. Sterling Capital Management LLC boosted its position in Nordstrom by 57.2% during the fourth quarter. Sterling Capital Management LLC now owns 5,996 shares of the specialty retailer's stock worth $145,000 after acquiring an additional 2,181 shares during the last quarter. Quinn Opportunity Partners LLC boosted its holdings in Nordstrom by 302.5% in the 4th quarter. Quinn Opportunity Partners LLC now owns 189,185 shares of the specialty retailer's stock valued at $4,569,000 after purchasing an additional 142,185 shares during the last quarter. LSV Asset Management boosted its holdings in Nordstrom by 8.8% in the 4th quarter. LSV Asset Management now owns 1,506,689 shares of the specialty retailer's stock valued at $36,387,000 after purchasing an additional 121,700 shares during the last quarter. Finally, CenterBook Partners LP purchased a new stake in Nordstrom during the 4th quarter worth approximately $370,000. 88.73% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

JWN has been the topic of a number of research analyst reports. Evercore ISI lifted 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. Telsey Advisory Group reissued a "market perform" rating and set a $24.00 price target on shares of Nordstrom in a research report on Wednesday, March 5th. Barclays upped their price objective on Nordstrom from $23.00 to $24.00 and gave the stock an "equal weight" rating in a research note on Thursday, January 16th. Citigroup reiterated a "sell" rating and issued a $22.00 target price (down from $25.00) on shares of Nordstrom in a report on Friday, April 4th. Finally, Argus downgraded shares of Nordstrom from a "buy" rating to a "sell" rating in a research report on Monday, December 30th. Four equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has issued a buy rating to the company's stock. According to data from MarketBeat, Nordstrom presently has a consensus rating of "Hold" and a consensus target price of $22.80.

Nordstrom Price Performance

Shares of JWN traded up $0.03 during mid-day trading on Thursday, reaching $24.16. 631,724 shares of the stock traded hands, compared to its average volume of 2,596,612. The company has a current ratio of 1.14, a quick ratio of 0.35 and a debt-to-equity ratio of 2.65. The company has a market cap of $4.04 billion, a price-to-earnings ratio of 15.39 and a beta of 2.31. The firm has a fifty day moving average price of $24.14 and a 200 day moving average price of $23.75. Nordstrom, Inc. has a 1 year low of $18.57 and a 1 year high of $24.99.

Nordstrom (NYSE:JWN - Get Free Report) last posted its quarterly earnings results 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 return on equity of 18.04% and a negative net margin of 1.57%. The firm had revenue of $4.32 billion during the quarter, compared to analysts' expectations of $4.32 billion. As a group, 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.