Proficio Capital Partners LLC Purchases New Holdings in Nordstrom, Inc. (NYSE:JWN)

Proficio Capital Partners LLC acquired a new position in shares of Nordstrom, Inc. (NYSE:JWN - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 15,118 shares of the specialty retailer's stock, valued at approximately $365,000.

Several other institutional investors have also added to or reduced their stakes in the stock. Spire Wealth Management raised 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 purchasing an additional 1,000 shares during the period. Wolverine Asset Management LLC bought a new position in shares of Nordstrom during the fourth quarter worth about $63,000. KBC Group NV raised its position in Nordstrom by 36.5% in the 4th quarter. KBC Group NV now owns 4,816 shares of the specialty retailer's stock valued at $116,000 after buying an additional 1,287 shares during the last quarter. Kentucky Retirement Systems Insurance Trust Fund bought a new stake in Nordstrom in the 4th quarter valued at approximately $122,000. Finally, Blue Trust Inc. lifted its stake in Nordstrom by 51.9% in the 4th quarter. Blue Trust Inc. now owns 5,832 shares of the specialty retailer's stock valued at $131,000 after acquiring an additional 1,993 shares in the last quarter. 88.73% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports 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. UBS Group upgraded shares of Nordstrom from a "sell" rating to a "neutral" rating and lifted their price target for the company from $14.50 to $24.00 in a research note on Friday, January 10th. 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. StockNews.com started coverage on Nordstrom in a report on Sunday, March 23rd. They issued a "buy" rating for the company. Finally, Argus downgraded Nordstrom from a "buy" rating to a "sell" rating in a research report on Monday, December 30th. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $22.90.

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Nordstrom Stock Performance

NYSE:JWN traded up $0.03 on Friday, hitting $24.48. The company's stock had a trading volume of 1,232,669 shares, compared to its average volume of 2,497,045. The company has a current ratio of 1.14, a quick ratio of 0.35 and a debt-to-equity ratio of 2.65. Nordstrom, Inc. has a one year low of $17.21 and a one year high of $24.99. The stock has a fifty day moving average of $24.29 and a two-hundred day moving average of $23.57. The firm has a market capitalization of $4.04 billion, a P/E ratio of 15.59 and a beta of 2.60.

Nordstrom (NYSE:JWN - Get Free Report) last announced its quarterly 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 return on equity of 18.04% and a negative net margin of 1.57%. The business had revenue of $4.32 billion during the quarter, compared to the consensus estimate of $4.32 billion. Research analysts predict that Nordstrom, Inc. will post 1.97 earnings per share for the current year.

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.