Nordstrom, Inc. (NYSE:JWN) Shares Purchased by Janney Montgomery Scott LLC

Janney Montgomery Scott LLC raised its position in Nordstrom, Inc. (NYSE:JWN) by 1.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 55,956 shares of the specialty retailer’s stock after acquiring an additional 640 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Nordstrom were worth $1,351,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Hennessy Advisors Inc. acquired a new stake in Nordstrom in the fourth quarter valued at $56,026,000. Geode Capital Management LLC raised its stake in shares of Nordstrom by 0.3% in the 3rd quarter. Geode Capital Management LLC now owns 1,625,616 shares of the specialty retailer’s stock valued at $36,570,000 after purchasing an additional 5,407 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Nordstrom by 17.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,422,856 shares of the specialty retailer’s stock worth $32,000,000 after purchasing an additional 208,193 shares during the last quarter. Verition Fund Management LLC grew its stake in Nordstrom by 147.4% in the third quarter. Verition Fund Management LLC now owns 1,218,365 shares of the specialty retailer’s stock worth $27,401,000 after purchasing an additional 725,803 shares in the last quarter. Finally, Axiom Advisory LLC grew its stake in Nordstrom by 46.0% in the third quarter. Axiom Advisory LLC now owns 1,100,864 shares of the specialty retailer’s stock worth $24,456,000 after purchasing an additional 346,994 shares in the last quarter. Hedge funds and other institutional investors own 88.73% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on JWN. UBS Group upgraded Nordstrom from a “sell” rating to a “neutral” rating and lifted their target price for the stock from $14.50 to $24.00 in a research report on Friday, January 10th. Argus downgraded shares of Nordstrom from a “buy” rating to a “sell” rating in a report on Monday, December 30th. Bank of America increased their target price on shares of Nordstrom from $20.00 to $22.00 and gave the stock an “underperform” rating in a report on Wednesday, November 27th. Barclays lifted their price target on shares of Nordstrom from $23.00 to $24.00 and gave the company an “equal weight” rating in a report on Thursday, January 16th. Finally, Evercore ISI increased their price objective on shares of Nordstrom from $22.00 to $24.00 and gave the stock an “in-line” rating in a research note on Monday, January 13th. Three equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $22.17.

Nordstrom Price Performance

Nordstrom stock opened at $24.28 on Wednesday. The business’s 50-day simple moving average is $23.82 and its 200 day simple moving average is $22.94. The company has a quick ratio of 0.35, a current ratio of 1.14 and a debt-to-equity ratio of 2.65. The stock has a market cap of $4.01 billion, a price-to-earnings ratio of 15.46 and a beta of 2.51. Nordstrom, Inc. has a 12-month low of $16.78 and a 12-month high of $24.99.

Nordstrom (NYSE:JWN) last issued its quarterly earnings results on Tuesday, November 26th. The specialty retailer reported $0.33 EPS for the quarter, topping the consensus estimate of $0.22 by $0.11. Nordstrom had a negative net margin of 1.57% and a negative return on equity of 18.04%. The company had revenue of $3.35 billion during the quarter, compared to analysts’ expectations of $3.34 billion. During the same quarter in the previous year, the company earned $0.25 EPS. Nordstrom’s revenue was up 4.6% on a year-over-year basis. As a group, research analysts anticipate that Nordstrom, Inc. will post 1.97 earnings per share for the current year.

Nordstrom Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 18th. Investors of record on Tuesday, December 3rd were issued a $0.19 dividend. The ex-dividend date of this dividend was Tuesday, December 3rd. This represents a $0.76 dividend on an annualized basis and a yield of 3.13%. Nordstrom’s dividend payout ratio is presently 48.41%.

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.