Quinn Opportunity Partners LLC Boosts Position in Nordstrom, Inc. (NYSE:JWN)

Quinn Opportunity Partners LLC raised its position in Nordstrom, Inc. (NYSE:JWN) by 302.5% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 189,185 shares of the specialty retailer’s stock after acquiring an additional 142,185 shares during the quarter. Quinn Opportunity Partners LLC owned approximately 0.11% of Nordstrom worth $4,569,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of JWN. Retirement Systems of Alabama lifted its stake in shares of Nordstrom by 0.4% in the 4th quarter. Retirement Systems of Alabama now owns 117,801 shares of the specialty retailer’s stock worth $2,845,000 after purchasing an additional 512 shares during the period. Freestone Capital Holdings LLC increased its holdings in Nordstrom by 3.0% during the fourth quarter. Freestone Capital Holdings LLC now owns 19,252 shares of the specialty retailer’s stock valued at $465,000 after buying an additional 558 shares during the last quarter. Amalgamated Bank raised its position in Nordstrom by 1.4% in the fourth quarter. Amalgamated Bank now owns 45,083 shares of the specialty retailer’s stock worth $1,089,000 after acquiring an additional 617 shares during the period. Janney Montgomery Scott LLC raised its position in Nordstrom by 1.2% in the fourth quarter. Janney Montgomery Scott LLC now owns 55,956 shares of the specialty retailer’s stock worth $1,351,000 after acquiring an additional 640 shares during the period. Finally, Wedmont Private Capital boosted its stake in shares of Nordstrom by 6.7% during the 4th quarter. Wedmont Private Capital now owns 11,589 shares of the specialty retailer’s stock worth $278,000 after acquiring an additional 723 shares during the last quarter. 88.73% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

JWN has been the topic of a number of recent research reports. Citigroup reaffirmed a “sell” rating and issued a $22.00 target price (down from $25.00) on shares of Nordstrom in a report on Friday, April 4th. Evercore ISI raised 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. Argus downgraded Nordstrom from a “buy” rating to a “sell” rating in a research note on Monday, December 30th. StockNews.com initiated coverage on shares of Nordstrom in a research note on Tuesday. They set a “buy” rating on the stock. Finally, Telsey Advisory Group reiterated a “market perform” rating and issued a $24.00 price target on shares of Nordstrom in a research report on Wednesday, March 5th. Four equities research analysts have rated the stock with a sell rating, eight have given a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, Nordstrom currently has a consensus rating of “Hold” and an average price target of $22.80.

Nordstrom Price Performance

Shares of NYSE:JWN opened at $23.84 on Friday. The company has a debt-to-equity ratio of 2.65, a quick ratio of 0.35 and a current ratio of 1.14. The firm has a market cap of $3.93 billion, a price-to-earnings ratio of 15.18 and a beta of 2.31. The firm has a fifty day moving average price of $24.21 and a 200 day moving average price of $23.65. Nordstrom, Inc. has a fifty-two week low of $17.21 and a fifty-two week high of $24.99.

Nordstrom (NYSE:JWN) last released its quarterly earnings data on Tuesday, March 4th. The specialty retailer reported $1.10 EPS for the quarter, beating the consensus estimate 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 the consensus estimate of $4.32 billion. As a group, sell-side analysts expect that Nordstrom, Inc. will post 1.97 earnings per share 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.