Nordstrom, Inc. (NYSE:JWN) Position Increased by GAMMA Investing LLC

GAMMA Investing LLC lifted its stake in Nordstrom, Inc. (NYSE:JWN) by 2,266.6% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 40,563 shares of the specialty retailer’s stock after purchasing an additional 38,849 shares during the quarter. GAMMA Investing LLC’s holdings in Nordstrom were worth $992,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also made changes to their positions in JWN. Versant Capital Management Inc increased its holdings in Nordstrom by 40.9% in the first quarter. Versant Capital Management Inc now owns 1,618 shares of the specialty retailer’s stock worth $40,000 after buying an additional 470 shares during the last quarter. Freestone Capital Holdings LLC lifted its holdings in shares of 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 acquiring an additional 558 shares during the period. Amalgamated Bank lifted its holdings in shares of Nordstrom by 1.4% during the fourth quarter. Amalgamated Bank now owns 45,083 shares of the specialty retailer’s stock valued at $1,089,000 after acquiring an additional 617 shares during the period. Avantax Advisory Services Inc. increased its stake in shares of Nordstrom by 3.5% in the fourth quarter. Avantax Advisory Services Inc. now owns 21,181 shares of the specialty retailer’s stock valued at $512,000 after buying an additional 725 shares in the last quarter. Finally, US Bancorp DE increased its stake in shares of Nordstrom by 1.4% in the fourth quarter. US Bancorp DE now owns 59,253 shares of the specialty retailer’s stock valued at $1,431,000 after buying an additional 792 shares in the last quarter. 88.73% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently commented on JWN shares. Telsey Advisory Group reiterated a “market perform” rating and issued a $24.00 price objective on shares of Nordstrom in a research report on Wednesday, March 5th. Citigroup restated a “sell” rating and issued a $22.00 target price (down previously from $25.00) on shares of Nordstrom in a research note on Friday, April 4th. Finally, Wall Street Zen initiated coverage on Nordstrom in a research report on Sunday, May 18th. They set a “buy” rating on the stock. Four analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has assigned a buy rating to the company. According to MarketBeat, Nordstrom currently has an average rating of “Hold” and an average target price of $22.80.

Nordstrom Stock Performance

JWN opened at $24.68 on Tuesday. The firm has a market cap of $4.13 billion, a P/E ratio of 15.72 and a beta of 2.36. Nordstrom, Inc. has a 52-week low of $19.45 and a 52-week high of $24.99. 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 business’s fifty day moving average is $24.36 and its 200-day moving average is $24.17.

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.