Spire Wealth Management Boosts Stock Position in Nordstrom, Inc. (NYSE:JWN)

Spire Wealth Management grew its stake in shares of Nordstrom, Inc. (NYSE:JWN) by 90.9% during the 4th quarter, HoldingsChannel reports. The fund owned 2,100 shares of the specialty retailer’s stock after buying an additional 1,000 shares during the period. Spire Wealth Management’s holdings in Nordstrom were worth $51,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Venturi Wealth Management LLC raised its position in shares of Nordstrom by 355.9% in the third quarter. Venturi Wealth Management LLC now owns 1,272 shares of the specialty retailer’s stock worth $29,000 after buying an additional 993 shares in the last quarter. Blue Trust Inc. raised its position in shares of Nordstrom by 57.7% in the third quarter. Blue Trust Inc. now owns 3,839 shares of the specialty retailer’s stock worth $81,000 after buying an additional 1,404 shares in the last quarter. CWM LLC raised its position in shares of Nordstrom by 28.7% in the third quarter. CWM LLC now owns 3,628 shares of the specialty retailer’s stock worth $82,000 after buying an additional 810 shares in the last quarter. KBC Group NV raised its position in shares of Nordstrom by 36.5% in the fourth quarter. KBC Group NV now owns 4,816 shares of the specialty retailer’s stock worth $116,000 after buying an additional 1,287 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its position in shares of Nordstrom by 42.2% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 8,250 shares of the specialty retailer’s stock worth $183,000 after buying an additional 2,450 shares in the last quarter. Hedge funds and other institutional investors own 88.73% of the company’s stock.

Nordstrom Stock Down 0.3 %

Shares of NYSE:JWN opened at $24.26 on Monday. The stock’s 50-day moving average price is $23.91 and its 200-day moving average price is $22.99. Nordstrom, Inc. has a 12-month low of $16.78 and a 12-month high of $24.99. The stock has a market capitalization of $4.00 billion, a P/E ratio of 15.45 and a beta of 2.51. The company has a current ratio of 1.14, a quick ratio of 0.35 and a debt-to-equity ratio of 2.65.

Nordstrom (NYSE:JWN) last announced its quarterly earnings data on Tuesday, November 26th. The specialty retailer reported $0.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.22 by $0.11. Nordstrom had a negative return on equity of 18.04% and a negative net margin of 1.57%. The firm had revenue of $3.35 billion for the quarter, compared to analysts’ expectations of $3.34 billion. During the same period last year, the firm earned $0.25 earnings per share. The company’s revenue for the quarter was up 4.6% compared to the same quarter last year. On average, equities analysts anticipate that Nordstrom, Inc. will post 1.97 earnings per share for the current year.

Nordstrom Dividend Announcement

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

Analyst Upgrades and Downgrades

JWN has been the topic of a number of recent analyst reports. Bank of America increased their price objective on Nordstrom from $20.00 to $22.00 and gave the stock an “underperform” rating in a research report on Wednesday, November 27th. StockNews.com began coverage on Nordstrom in a research report on Monday, February 3rd. They issued a “buy” rating on the stock. Evercore ISI raised their price target on Nordstrom from $22.00 to $24.00 and gave the company an “in-line” rating in a research report on Monday, January 13th. Argus downgraded Nordstrom from a “buy” rating to a “sell” rating in a research report on Monday, December 30th. Finally, Telsey Advisory Group restated a “market perform” rating and set a $24.00 price target on shares of Nordstrom in a research report on Monday, January 13th. Three equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $22.17.

Nordstrom Company 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.