Raymond James Financial Inc. Purchases New Stake in Nordstrom, Inc. (NYSE:JWN)

Raymond James Financial Inc. acquired a new stake in Nordstrom, Inc. (NYSE:JWN - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 97,771 shares of the specialty retailer's stock, valued at approximately $2,361,000. Raymond James Financial Inc. owned about 0.06% of Nordstrom at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Spire Wealth Management lifted its stake in shares of Nordstrom by 90.9% during the 4th quarter. Spire Wealth Management now owns 2,100 shares of the specialty retailer's stock worth $51,000 after purchasing an additional 1,000 shares during the period. Wolverine Asset Management LLC acquired a new position in Nordstrom in the fourth quarter valued at $63,000. KBC Group NV lifted its position in 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 buying an additional 1,287 shares during the period. Kentucky Retirement Systems Insurance Trust Fund purchased a new stake in Nordstrom in the 4th quarter valued at about $122,000. Finally, Blue Trust Inc. increased its stake in shares of Nordstrom by 51.9% during 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 during the last quarter. Hedge funds and other institutional investors own 88.73% of the company's stock.

Nordstrom Stock Up 0.0 %

NYSE:JWN traded up $0.01 during trading hours on Wednesday, hitting $24.47. The stock had a trading volume of 1,414,567 shares, compared to its average volume of 2,474,665. The company has a market cap of $4.04 billion, a PE ratio of 15.59 and a beta of 2.60. The business has a 50 day simple moving average of $24.31 and a two-hundred day simple moving average of $23.61. Nordstrom, Inc. has a 1-year low of $17.21 and a 1-year high of $24.99. The company has a current ratio of 1.14, a quick ratio of 0.35 and a debt-to-equity ratio of 2.65.

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Nordstrom (NYSE:JWN - Get Free Report) last released 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. Nordstrom had a negative net margin of 1.57% and a negative return on equity of 18.04%. The business had revenue of $4.32 billion during the quarter, compared to analyst estimates of $4.32 billion. Analysts predict that Nordstrom, Inc. will post 1.97 EPS for the current year.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on JWN. Argus downgraded shares of Nordstrom from a "buy" rating to a "sell" rating in a report on Monday, December 30th. StockNews.com initiated coverage on Nordstrom in a report on Monday. They set a "buy" rating for the company. Barclays boosted their price target on Nordstrom from $23.00 to $24.00 and gave the company an "equal weight" rating in a research report on Thursday, January 16th. UBS Group upgraded Nordstrom from a "sell" rating to a "neutral" rating and upped their price target for the stock from $14.50 to $24.00 in a research note on Friday, January 10th. Finally, Telsey Advisory Group reiterated a "market perform" rating and set a $24.00 target price on shares of Nordstrom in a report on Wednesday, March 5th. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $22.90.

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.