Raymond James & Associates Boosts Holdings in Nordstrom, Inc. (NYSE:JWN)

Raymond James & Associates increased its stake in shares of Nordstrom, Inc. (NYSE:JWN) by 2.4% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 93,076 shares of the specialty retailer’s stock after buying an additional 2,148 shares during the period. Raymond James & Associates’ holdings in Nordstrom were worth $1,717,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Premier Path Wealth Partners LLC bought a new position in Nordstrom during the fourth quarter worth about $1,081,000. Wellington Management Group LLP boosted its position in Nordstrom by 52.9% during the third quarter. Wellington Management Group LLP now owns 363,690 shares of the specialty retailer’s stock worth $5,434,000 after purchasing an additional 125,877 shares during the period. Victory Capital Management Inc. boosted its position in Nordstrom by 48.7% during the third quarter. Victory Capital Management Inc. now owns 2,312,694 shares of the specialty retailer’s stock worth $34,552,000 after purchasing an additional 757,000 shares during the period. EP Wealth Advisors LLC boosted its position in Nordstrom by 120.3% during the third quarter. EP Wealth Advisors LLC now owns 12,027 shares of the specialty retailer’s stock worth $180,000 after purchasing an additional 6,567 shares during the period. Finally, CenterBook Partners LP bought a new position in Nordstrom during the third quarter worth about $736,000. Hedge funds and other institutional investors own 88.73% of the company’s stock.

Analyst Upgrades and Downgrades

JWN has been the subject of a number of research reports. Jefferies Financial Group reiterated a “hold” rating and set a $17.00 target price (down previously from $18.00) on shares of Nordstrom in a research report on Thursday, March 7th. StockNews.com upgraded shares of Nordstrom from a “hold” rating to a “buy” rating in a research report on Thursday, March 14th. Bank of America raised their price objective on shares of Nordstrom from $13.00 to $15.00 and gave the company an “underperform” rating in a research report on Wednesday, March 6th. Barclays raised their price objective on shares of Nordstrom from $14.00 to $15.00 and gave the company an “underweight” rating in a research report on Wednesday, March 6th. Finally, Citigroup cut their price objective on shares of Nordstrom from $21.00 to $20.00 and set a “neutral” rating for the company in a research report on Wednesday, March 6th. Five equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $16.54.

Nordstrom Trading Up 1.4 %

Shares of Nordstrom stock opened at $17.95 on Thursday. Nordstrom, Inc. has a 1 year low of $12.88 and a 1 year high of $23.53. The firm has a market cap of $2.93 billion, a PE ratio of 22.44, a PEG ratio of 2.01 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. The company has a 50 day simple moving average of $19.26 and a two-hundred day simple moving average of $17.32.

Nordstrom (NYSE:JWN) last announced its earnings results on Tuesday, March 5th. The specialty retailer reported $0.96 earnings per share (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 business had revenue of $4.29 billion during the quarter, compared to analyst estimates of $4.38 billion. During the same period in the previous year, the business posted $0.74 earnings per share. Nordstrom’s revenue for the quarter was up 2.2% on a year-over-year basis. Analysts expect that Nordstrom, Inc. will post 1.81 earnings per share for the current fiscal year.

Nordstrom Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 27th. Shareholders of record on Tuesday, March 12th were paid 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%.

About Nordstrom

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.