27,200 Shares in Nordstrom, Inc. (NYSE:JWN) Purchased by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System purchased a new stake in shares of Nordstrom, Inc. (NYSE:JWN) in the 4th quarter, Holdings Channel reports. The fund purchased 27,200 shares of the specialty retailer’s stock, valued at approximately $502,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. DekaBank Deutsche Girozentrale bought a new position in shares of Nordstrom in the third quarter valued at approximately $45,000. Rowlandmiller & PARTNERS.ADV acquired a new stake in Nordstrom during the 4th quarter valued at $119,000. Gallacher Capital Management LLC bought a new position in Nordstrom in the 3rd quarter valued at $166,000. AE Wealth Management LLC acquired a new position in Nordstrom in the third quarter worth $168,000. Finally, EP Wealth Advisors LLC grew its holdings in shares of 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 last quarter. 88.73% of the stock is currently owned by institutional investors and hedge funds.

Nordstrom Stock Performance

Shares of JWN stock opened at $19.43 on Tuesday. The stock has a 50-day moving average of $19.16 and a 200-day moving average of $17.60. Nordstrom, Inc. has a one year low of $12.88 and a one year high of $23.53. The stock has a market cap of $3.17 billion, a PE ratio of 24.29, a price-to-earnings-growth ratio of 2.17 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 posted its earnings results on Tuesday, March 5th. The specialty retailer reported $0.96 earnings per share for the quarter, topping 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 company had revenue of $4.29 billion for the quarter, compared to analyst estimates of $4.38 billion. During the same period last year, the business posted $0.74 earnings per share. The business’s revenue for the quarter was up 2.2% compared to the same quarter last year. As a group, sell-side analysts expect that Nordstrom, Inc. will post 1.81 earnings per share for the current year.

Nordstrom Announces Dividend

The company also recently disclosed 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. The ex-dividend date of this dividend was Monday, March 11th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 3.91%. Nordstrom’s payout ratio is presently 95.00%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on JWN. JPMorgan Chase & Co. boosted 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. StockNews.com upgraded shares of Nordstrom from a “hold” rating to a “buy” rating in a research report on Thursday, March 14th. Telsey Advisory Group reiterated a “market perform” rating and issued a $19.00 price objective on shares of Nordstrom in a research report on Friday, April 19th. Citigroup dropped their target price on Nordstrom from $21.00 to $20.00 and set a “neutral” rating for the company in a research report on Wednesday, March 6th. Finally, Jefferies Financial Group reaffirmed a “hold” rating and set a $17.00 price target (down previously from $18.00) on shares of Nordstrom in a research note on Thursday, March 7th. 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. According to data from MarketBeat, Nordstrom currently has an average rating of “Hold” and a consensus target price of $16.54.

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.