Great Lakes Advisors LLC Purchases New Shares in Nordstrom, Inc. (NYSE:JWN)

Great Lakes Advisors LLC purchased a new stake in shares of Nordstrom, Inc. (NYSE:JWN) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 900,041 shares of the specialty retailer’s stock, valued at approximately $21,736,000. Great Lakes Advisors LLC owned approximately 0.55% of Nordstrom at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Janney Montgomery Scott LLC boosted its position in Nordstrom by 314.8% in the 3rd quarter. Janney Montgomery Scott LLC now owns 55,316 shares of the specialty retailer’s stock valued at $1,244,000 after buying an additional 41,981 shares during the last quarter. Crossmark Global Holdings Inc. bought a new position in Nordstrom in the 3rd quarter valued at $835,000. State of New Jersey Common Pension Fund D boosted its position in Nordstrom by 5.9% in the 3rd quarter. State of New Jersey Common Pension Fund D now owns 91,536 shares of the specialty retailer’s stock valued at $2,059,000 after buying an additional 5,072 shares during the last quarter. Venturi Wealth Management LLC boosted its position in Nordstrom by 355.9% in the 3rd quarter. Venturi Wealth Management LLC now owns 1,272 shares of the specialty retailer’s stock valued at $29,000 after buying an additional 993 shares during the last quarter. Finally, GSA Capital Partners LLP bought a new position in Nordstrom in the 3rd quarter valued at $1,447,000. 88.73% of the stock is owned by institutional investors and hedge funds.

Nordstrom Trading Down 0.8 %

Shares of NYSE:JWN opened at $24.24 on Wednesday. The stock has a market cap of $4.00 billion, a PE ratio of 15.44 and a beta of 2.60. Nordstrom, Inc. has a 12-month low of $16.78 and a 12-month high of $24.99. The business has a 50 day moving average of $24.25 and a 200-day moving average of $23.39. The company has a quick ratio of 0.35, a current ratio of 1.14 and a debt-to-equity ratio of 2.65.

Nordstrom (NYSE:JWN) last posted its quarterly earnings data on Tuesday, March 4th. The specialty retailer reported $1.10 earnings per share for the quarter, beating analysts’ consensus estimates of $0.90 by $0.20. The business had revenue of $4.32 billion during the quarter, compared to the consensus estimate of $4.32 billion. Nordstrom had a negative return on equity of 18.04% and a negative net margin of 1.57%. As a group, equities research analysts forecast that Nordstrom, Inc. will post 1.97 earnings per share for the current year.

Nordstrom Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 26th. Shareholders of record on Tuesday, March 11th will be given a dividend of $0.19 per share. The ex-dividend date of this dividend is Tuesday, March 11th. This represents a $0.76 dividend on an annualized basis and a yield of 3.14%. Nordstrom’s dividend payout ratio (DPR) is currently 44.19%.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. Evercore ISI increased their price objective on Nordstrom from $22.00 to $24.00 and gave the company an “in-line” rating in a research report on Monday, January 13th. StockNews.com began coverage on Nordstrom in a research report on Friday, March 7th. They issued a “buy” rating on the stock. Citigroup raised their price target on Nordstrom from $22.00 to $23.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 19th. Bank of America raised their price target on Nordstrom from $20.00 to $22.00 and gave the stock an “underperform” rating in a research report on Wednesday, November 27th. Finally, Argus lowered Nordstrom from a “buy” rating to a “sell” rating in a research report on Monday, December 30th. Three analysts have rated the stock with a sell rating, nine have issued a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, Nordstrom has an average rating of “Hold” and an average target price of $22.90.

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.