Raymond James & Associates Has $1.72 Million Position in Nordstrom, Inc. (NYSE:JWN)

Raymond James & Associates raised its position in Nordstrom, Inc. (NYSE:JWN) by 2.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 93,076 shares of the specialty retailer’s stock after acquiring an additional 2,148 shares during the quarter. Raymond James & Associates owned approximately 0.06% of Nordstrom worth $1,717,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in Nordstrom by 1.3% in the third quarter. Vanguard Group Inc. now owns 10,459,699 shares of the specialty retailer’s stock valued at $174,992,000 after acquiring an additional 131,102 shares during the last quarter. BlackRock Inc. lifted its stake in shares of Nordstrom by 1.8% during the 2nd quarter. BlackRock Inc. now owns 10,184,495 shares of the specialty retailer’s stock worth $208,477,000 after buying an additional 182,466 shares during the last quarter. State Street Corp lifted its stake in shares of Nordstrom by 70.0% during the 2nd quarter. State Street Corp now owns 8,640,239 shares of the specialty retailer’s stock worth $176,866,000 after buying an additional 3,556,576 shares during the last quarter. Cooper Creek Partners Management LLC lifted its stake in shares of Nordstrom by 42.4% during the 3rd quarter. Cooper Creek Partners Management LLC now owns 3,908,377 shares of the specialty retailer’s stock worth $58,391,000 after buying an additional 1,163,437 shares during the last quarter. Finally, Victory Capital Management Inc. lifted its stake in shares of Nordstrom by 48.7% during the 3rd quarter. Victory Capital Management Inc. now owns 2,312,694 shares of the specialty retailer’s stock worth $34,552,000 after buying an additional 757,000 shares during the last quarter. Institutional investors and hedge funds own 88.73% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on JWN shares. JPMorgan Chase & Co. raised their target price on shares of Nordstrom from $14.00 to $15.00 and gave the stock an “underweight” rating in a research note on Wednesday, March 6th. Citigroup cut their target price on shares of Nordstrom from $21.00 to $20.00 and set a “neutral” rating for the company in a research note on Wednesday, March 6th. Jefferies Financial Group restated a “hold” rating and set a $17.00 target price (down previously from $18.00) on shares of Nordstrom in a research note on Thursday, March 7th. Bank of America lifted their price objective on shares of Nordstrom from $13.00 to $15.00 and gave the stock an “underperform” rating in a research note on Wednesday, March 6th. Finally, Barclays lifted their price objective on shares of Nordstrom from $14.00 to $15.00 and gave the stock an “underweight” rating in a research note on Wednesday, March 6th. Five research analysts have rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $16.54.

Nordstrom Price Performance

JWN stock opened at $17.95 on Thursday. The company has a quick ratio of 0.41, a current ratio of 1.02 and a debt-to-equity ratio of 3.08. Nordstrom, Inc. has a 12 month low of $12.88 and a 12 month high of $23.53. The firm has a market cap of $2.93 billion, a P/E ratio of 22.44, a P/E/G ratio of 2.01 and a beta of 2.59. The company’s 50-day moving average price is $19.26 and its two-hundred day moving average price is $17.32.

Nordstrom (NYSE:JWN) last released its earnings results on Tuesday, March 5th. The specialty retailer reported $0.96 EPS for the quarter, beating the consensus estimate of $0.90 by $0.06. Nordstrom had a net margin of 0.91% and a return on equity of 49.30%. The firm had revenue of $4.29 billion for the quarter, compared to analyst estimates of $4.38 billion. During the same period last year, the firm earned $0.74 EPS. The business’s quarterly revenue was up 2.2% compared to the same quarter last year. On average, analysts anticipate that Nordstrom, Inc. will post 1.81 earnings per share for the current fiscal year.

Nordstrom Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 27th. Investors of record on Tuesday, March 12th were issued a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 4.23%. The ex-dividend date was Monday, March 11th. Nordstrom’s dividend payout ratio (DPR) is presently 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.