JPMorgan Chase & Co. Acquires 89,114 Shares of Nordstrom, Inc. (NYSE:JWN)

JPMorgan Chase & Co. lifted its stake in shares of Nordstrom, Inc. (NYSE:JWN - Free Report) by 29.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 388,796 shares of the specialty retailer's stock after purchasing an additional 89,114 shares during the quarter. JPMorgan Chase & Co. owned about 0.24% of Nordstrom worth $8,744,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the company. Venturi Wealth Management LLC increased its holdings in shares of Nordstrom by 355.9% during the third quarter. Venturi Wealth Management LLC now owns 1,272 shares of the specialty retailer's stock valued at $29,000 after acquiring an additional 993 shares in the last quarter. Point72 Hong Kong Ltd acquired a new position in Nordstrom during the second quarter worth $71,000. Blue Trust Inc. lifted its stake in shares of Nordstrom by 57.7% in the third quarter. Blue Trust Inc. now owns 3,839 shares of the specialty retailer's stock valued at $81,000 after buying an additional 1,404 shares in the last quarter. CWM LLC grew its holdings in shares of Nordstrom by 28.7% during the third quarter. CWM LLC now owns 3,628 shares of the specialty retailer's stock valued at $82,000 after buying an additional 810 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale increased its position in shares of Nordstrom by 70.5% during the second quarter. DekaBank Deutsche Girozentrale now owns 5,387 shares of the specialty retailer's stock worth $112,000 after acquiring an additional 2,227 shares in the last quarter. 88.73% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. KeyCorp downgraded Nordstrom from an "overweight" rating to a "sector weight" rating in a research note on Thursday, September 26th. StockNews.com began coverage on Nordstrom in a research report on Friday. They set a "buy" rating on the stock. UBS Group raised Nordstrom from a "sell" rating to a "neutral" rating and increased their price target for the company from $14.50 to $24.00 in a research report on Friday. Bank of America lifted their price objective on shares of Nordstrom from $20.00 to $22.00 and gave the stock an "underperform" rating in a report on Wednesday, November 27th. Finally, Telsey Advisory Group reiterated a "market perform" rating and issued a $24.00 target price on shares of Nordstrom in a report on Monday. Three investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, Nordstrom has a consensus rating of "Hold" and a consensus target price of $22.08.

Nordstrom Stock Performance

Shares of JWN remained flat at $24.15 during midday trading on Tuesday. The stock had a trading volume of 1,686,249 shares, compared to its average volume of 3,925,518. The firm has a market capitalization of $3.99 billion, a P/E ratio of 15.38 and a beta of 2.52. The company has a quick ratio of 0.35, a current ratio of 1.14 and a debt-to-equity ratio of 2.65. Nordstrom, Inc. has a 1 year low of $16.78 and a 1 year high of $24.99. The business has a 50-day moving average price of $23.43 and a 200-day moving average price of $22.74.

Nordstrom (NYSE:JWN - Get Free Report) last released its earnings results on Tuesday, November 26th. The specialty retailer reported $0.33 EPS for the quarter, beating the consensus estimate of $0.22 by $0.11. Nordstrom had a negative net margin of 1.57% and a negative return on equity of 18.04%. The company had revenue of $3.35 billion for the quarter, compared to analyst estimates of $3.34 billion. During the same quarter last year, the firm earned $0.25 EPS. The firm's quarterly revenue was up 4.6% compared to the same quarter last year. Research analysts forecast that Nordstrom, Inc. will post 1.94 EPS for the current fiscal year.

Nordstrom Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 18th. Investors of record on Tuesday, December 3rd were given a dividend of $0.19 per share. The ex-dividend date of this dividend was Tuesday, December 3rd. This represents a $0.76 annualized dividend and a yield of 3.15%. Nordstrom's payout ratio is 48.41%.

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.