KLP Kapitalforvaltning AS Acquires New Stake in Nordstrom, Inc. (NYSE:JWN)

KLP Kapitalforvaltning AS purchased a new stake in Nordstrom, Inc. (NYSE:JWN - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 21,300 shares of the specialty retailer's stock, valued at approximately $514,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Spire Wealth Management grew its stake in shares of Nordstrom by 90.9% in the 4th quarter. Spire Wealth Management now owns 2,100 shares of the specialty retailer's stock valued at $51,000 after buying an additional 1,000 shares during the period. Wolverine Asset Management LLC acquired a new stake in Nordstrom in the fourth quarter valued at approximately $63,000. Vestcor Inc bought a new stake in shares of Nordstrom during the fourth quarter valued at approximately $63,000. KBC Group NV raised its position in shares of Nordstrom by 36.5% during the fourth quarter. KBC Group NV now owns 4,816 shares of the specialty retailer's stock worth $116,000 after purchasing an additional 1,287 shares during the period. Finally, Kentucky Retirement Systems Insurance Trust Fund acquired a new position in shares of Nordstrom during the fourth quarter worth approximately $122,000. 88.73% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have commented on JWN shares. Telsey Advisory Group restated a "market perform" rating and set a $24.00 price target on shares of Nordstrom in a research note on Wednesday, March 5th. Barclays boosted their target price on shares of Nordstrom from $23.00 to $24.00 and gave the stock an "equal weight" rating in a research report on Thursday, January 16th. StockNews.com started coverage on shares of Nordstrom in a research report on Tuesday. They issued a "buy" rating on the stock. Argus lowered Nordstrom from a "buy" rating to a "sell" rating in a report on Monday, December 30th. Finally, Evercore ISI increased their price objective on Nordstrom from $22.00 to $24.00 and gave the stock an "in-line" rating in a research note on Monday, January 13th. Four analysts have rated the stock with a sell rating, eight have given a hold rating and one has assigned a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $22.80.

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Nordstrom Stock Performance

Shares of JWN stock traded down $0.24 during trading on Tuesday, hitting $23.12. The company's stock had a trading volume of 7,087,082 shares, compared to its average volume of 2,582,160. 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 $3.82 billion, a PE ratio of 14.72 and a beta of 2.31. The business has a fifty day moving average of $24.23 and a 200-day moving average of $23.64. Nordstrom, Inc. has a 52 week low of $17.21 and a 52 week high of $24.99.

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

Nordstrom 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.