Nordstrom, Inc. (NYSE:JWN) Shares Acquired by Wedge Capital Management L L P NC

Wedge Capital Management L L P NC lifted its position in shares of Nordstrom, Inc. (NYSE:JWN) by 26.0% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 87,184 shares of the specialty retailer’s stock after acquiring an additional 18,013 shares during the period. Wedge Capital Management L L P NC’s holdings in Nordstrom were worth $1,609,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in JWN. Premier Path Wealth Partners LLC acquired a new position in Nordstrom in the 4th quarter valued at about $1,081,000. Wellington Management Group LLP grew its holdings in Nordstrom by 52.9% in the 3rd quarter. Wellington Management Group LLP now owns 363,690 shares of the specialty retailer’s stock valued at $5,434,000 after buying an additional 125,877 shares during the period. Victory Capital Management Inc. grew its holdings in Nordstrom by 48.7% in the 3rd quarter. Victory Capital Management Inc. now owns 2,312,694 shares of the specialty retailer’s stock valued at $34,552,000 after buying an additional 757,000 shares during the period. EP Wealth Advisors LLC grew its holdings in Nordstrom by 120.3% in the 3rd quarter. EP Wealth Advisors LLC now owns 12,027 shares of the specialty retailer’s stock valued at $180,000 after buying an additional 6,567 shares during the period. Finally, CenterBook Partners LP purchased a new stake in Nordstrom in the 3rd quarter valued at about $736,000. Institutional investors and hedge funds own 88.73% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on JWN. Barclays increased their target price on shares of Nordstrom from $14.00 to $15.00 and gave the stock an “underweight” rating in a research report on Wednesday, March 6th. StockNews.com raised shares of Nordstrom from a “hold” rating to a “buy” rating in a research report on Thursday, March 14th. JPMorgan Chase & Co. increased their target price on shares of Nordstrom from $14.00 to $15.00 and gave the stock an “underweight” rating in a research report on Wednesday, March 6th. The Goldman Sachs Group increased their price objective on shares of Nordstrom from $16.00 to $18.00 and gave the company a “neutral” rating in a research report on Wednesday, March 6th. Finally, Jefferies Financial Group reaffirmed a “hold” rating and issued a $17.00 price objective (down previously from $18.00) on shares of Nordstrom in a research report on Thursday, March 7th. Five analysts have rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $16.54.

Nordstrom Stock Performance

Shares of JWN opened at $19.24 on Thursday. The business’s fifty day moving average price is $19.22 and its 200 day moving average price is $17.48. Nordstrom, Inc. has a 12-month low of $12.88 and a 12-month high of $23.53. The stock has a market capitalization of $3.14 billion, a PE ratio of 24.05, a price-to-earnings-growth ratio of 2.23 and a beta of 2.59. The company has a debt-to-equity ratio of 3.08, a current ratio of 1.02 and a quick ratio of 0.41.

Nordstrom (NYSE:JWN) last announced its quarterly earnings data on Tuesday, March 5th. The specialty retailer reported $0.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.90 by $0.06. Nordstrom had a return on equity of 49.30% and a net margin of 0.91%. The firm had revenue of $4.29 billion for the quarter, compared to analysts’ expectations of $4.38 billion. During the same period last year, the business posted $0.74 earnings per share. The firm’s revenue for the quarter was up 2.2% on a year-over-year basis. Equities research analysts forecast that Nordstrom, Inc. will post 1.81 EPS for the current year.

Nordstrom Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 27th. Shareholders of record on Tuesday, March 12th were paid a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 3.95%. The ex-dividend date of this dividend was Monday, March 11th. Nordstrom’s payout ratio is 95.00%.

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.