Prudential Financial Inc. Has $3.50 Million Stock Position in Nordstrom, Inc. (NYSE:JWN)

Prudential Financial Inc. raised its holdings in Nordstrom, Inc. (NYSE:JWN - Free Report) by 260.1% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 144,839 shares of the specialty retailer's stock after purchasing an additional 104,616 shares during the period. Prudential Financial Inc. owned about 0.09% of Nordstrom worth $3,498,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. KLP Kapitalforvaltning AS bought a new position in Nordstrom during the 4th quarter valued at $514,000. Sei Investments Co. increased its holdings in Nordstrom by 91.5% in the fourth quarter. Sei Investments Co. now owns 52,202 shares of the specialty retailer's stock valued at $1,261,000 after buying an additional 24,944 shares during the last quarter. American Century Companies Inc. raised its stake in Nordstrom by 18.3% during the fourth quarter. American Century Companies Inc. now owns 2,912,254 shares of the specialty retailer's stock valued at $70,331,000 after buying an additional 450,539 shares in the last quarter. Xponance Inc. lifted its holdings in Nordstrom by 47.0% during the 4th quarter. Xponance Inc. now owns 15,574 shares of the specialty retailer's stock worth $376,000 after buying an additional 4,976 shares during the last quarter. Finally, Madison Investment Advisors LLC acquired a new position in shares of Nordstrom in the 4th quarter worth approximately $3,767,000. 88.73% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on JWN shares. Telsey Advisory Group restated a "market perform" rating and set a $24.00 price objective on shares of Nordstrom in a research note on Wednesday, March 5th. StockNews.com initiated coverage on shares of Nordstrom in a research report on Monday. They issued a "buy" rating on the stock. Barclays upped their price target 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. Evercore ISI boosted 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. Finally, UBS Group raised Nordstrom from a "sell" rating to a "neutral" rating and lifted their target price for the stock from $14.50 to $24.00 in a report on Friday, January 10th. Three analysts have rated the stock with a sell rating, nine have given a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $22.90.

Remove Ads

Nordstrom Trading Down 1.9 %

Nordstrom stock traded down $0.46 during midday trading on Thursday, reaching $24.00. The stock had a trading volume of 10,277,339 shares, compared to its average volume of 2,503,296. The firm's fifty day simple moving average is $24.31 and its two-hundred day simple moving average is $23.61. The company has a debt-to-equity ratio of 2.65, a current ratio of 1.14 and a quick ratio of 0.35. Nordstrom, Inc. has a twelve month low of $17.21 and a twelve month high of $24.99. The firm has a market cap of $3.96 billion, a price-to-earnings ratio of 15.28 and a beta of 2.60.

Nordstrom (NYSE:JWN - Get Free Report) last issued its quarterly earnings results on Tuesday, March 4th. The specialty retailer reported $1.10 earnings per share for the quarter, beating analysts' consensus estimates of $0.90 by $0.20. The business had revenue of $4.32 billion for 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%. Equities analysts anticipate that Nordstrom, Inc. will post 1.97 EPS for the current fiscal 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.