Norges Bank Makes New Investment in Nordstrom, Inc. (NYSE:JWN)

Norges Bank bought a new stake in shares of Nordstrom, Inc. (NYSE:JWN - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 1,386,319 shares of the specialty retailer's stock, valued at approximately $33,480,000. Norges Bank owned approximately 0.84% of Nordstrom as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the stock. Retirement Systems of Alabama boosted its stake in shares of Nordstrom by 0.4% during the 4th quarter. Retirement Systems of Alabama now owns 117,801 shares of the specialty retailer's stock worth $2,845,000 after purchasing an additional 512 shares during the period. Freestone Capital Holdings LLC boosted its stake in shares of Nordstrom by 3.0% during the 4th quarter. Freestone Capital Holdings LLC now owns 19,252 shares of the specialty retailer's stock worth $465,000 after purchasing an additional 558 shares during the period. Amalgamated Bank boosted its stake in shares of Nordstrom by 1.4% during the 4th quarter. Amalgamated Bank now owns 45,083 shares of the specialty retailer's stock worth $1,089,000 after purchasing an additional 617 shares during the period. Janney Montgomery Scott LLC boosted its stake in shares of Nordstrom by 1.2% during the 4th quarter. Janney Montgomery Scott LLC now owns 55,956 shares of the specialty retailer's stock worth $1,351,000 after purchasing an additional 640 shares during the period. Finally, Wedmont Private Capital boosted its stake in shares of Nordstrom by 6.7% during the 4th quarter. Wedmont Private Capital now owns 11,589 shares of the specialty retailer's stock worth $278,000 after purchasing an additional 723 shares during the period. 88.73% of the stock is owned by hedge funds and other institutional investors.

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Nordstrom Stock Performance

Shares of JWN traded up $0.15 during trading hours on Thursday, hitting $23.96. The stock had a trading volume of 1,800,017 shares, compared to its average volume of 2,612,233. 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 has a 50-day moving average price of $24.21 and a 200 day moving average price of $23.64. Nordstrom, Inc. has a fifty-two week low of $17.21 and a fifty-two week high of $24.99. The firm has a market capitalization of $3.95 billion, a price-to-earnings ratio of 15.26 and a beta of 2.31.

Nordstrom (NYSE:JWN - Get Free Report) last posted its earnings results on Tuesday, March 4th. The specialty retailer reported $1.10 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to analysts' expectations of $4.32 billion. As a group, research analysts anticipate that Nordstrom, Inc. will post 1.97 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on JWN shares. Barclays lifted their price objective on shares of Nordstrom from $23.00 to $24.00 and gave the company an "equal weight" rating in a report on Thursday, January 16th. Telsey Advisory Group reiterated a "market perform" rating and set a $24.00 price objective on shares of Nordstrom in a report on Wednesday, March 5th. StockNews.com started coverage on shares of Nordstrom in a report on Tuesday. They set a "buy" rating for the company. Argus lowered shares of Nordstrom from a "buy" rating to a "sell" rating in a report on Monday, December 30th. Finally, UBS Group upgraded shares of Nordstrom from a "sell" rating to a "neutral" rating and lifted their price objective for the company from $14.50 to $24.00 in a report on Friday, January 10th. 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, Nordstrom has an average rating of "Hold" and an average target price of $22.80.

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.