Arizona State Retirement System Purchases 1,243 Shares of Nordstrom, Inc. (NYSE:JWN)

Arizona State Retirement System grew its position in shares of Nordstrom, Inc. (NYSE:JWN – Get Rating) by 4.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 31,564 shares of the specialty retailer’s stock after buying an additional 1,243 shares during the period. Arizona State Retirement System’s holdings in Nordstrom were worth $509,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in JWN. El Puerto de Liverpool S.A.B. de C.V. acquired a new stake in shares of Nordstrom during the 4th quarter worth $254,286,000. Vanguard Group Inc. boosted its stake in Nordstrom by 1.3% in the third quarter. Vanguard Group Inc. now owns 10,459,699 shares of the specialty retailer’s stock valued at $174,992,000 after buying an additional 131,102 shares in the last quarter. State Street Corp boosted its stake in Nordstrom by 5.5% in the first quarter. State Street Corp now owns 4,552,284 shares of the specialty retailer’s stock valued at $124,245,000 after buying an additional 239,120 shares in the last quarter. Fisher Asset Management LLC boosted its stake in Nordstrom by 33.8% in the fourth quarter. Fisher Asset Management LLC now owns 2,312,992 shares of the specialty retailer’s stock valued at $37,332,000 after buying an additional 584,293 shares in the last quarter. Finally, Balyasny Asset Management LLC boosted its stake in Nordstrom by 71.0% in the third quarter. Balyasny Asset Management LLC now owns 2,162,440 shares of the specialty retailer’s stock valued at $36,178,000 after buying an additional 898,176 shares in the last quarter. Institutional investors own 66.41% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. Credit Suisse Group reaffirmed a “neutral” rating and issued a $17.00 price objective on shares of Nordstrom in a research note on Friday, March 3rd. Gordon Haskett raised Nordstrom from a “reduce” rating to a “hold” rating and set a $22.00 price target on the stock in a research note on Friday, February 3rd. KeyCorp lowered their price objective on Nordstrom from $30.00 to $22.00 and set an “overweight” rating for the company in a research note on Friday, January 20th. JPMorgan Chase & Co. cut their target price on shares of Nordstrom from $15.00 to $13.00 and set an “underweight” rating on the stock in a research report on Friday, January 20th. Finally, Deutsche Bank Aktiengesellschaft cut their target price on shares of Nordstrom from $21.00 to $17.00 in a research report on Friday, January 20th. Four equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and three have assigned a buy rating to the company. According to MarketBeat, Nordstrom currently has an average rating of “Hold” and an average price target of $19.50.

Nordstrom Stock Performance

NYSE:JWN opened at $15.44 on Friday. The company has a fifty day moving average of $15.85 and a 200-day moving average of $18.06. The firm has a market capitalization of $2.49 billion, a P/E ratio of 10.23, a P/E/G ratio of 1.39 and a beta of 2.21. The company has a quick ratio of 0.42, a current ratio of 1.07 and a debt-to-equity ratio of 3.86. Nordstrom, Inc. has a twelve month low of $14.02 and a twelve month high of $27.72.

Nordstrom (NYSE:JWN – Get Rating) last released its quarterly earnings data on Thursday, March 2nd. The specialty retailer reported $0.74 earnings per share for the quarter, beating the consensus estimate of $0.65 by $0.09. The company had revenue of $4.20 billion during the quarter, compared to analyst estimates of $4.33 billion. Nordstrom had a net margin of 1.58% and a return on equity of 42.08%. Nordstrom’s revenue for the quarter was down 4.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.23 EPS. As a group, sell-side analysts anticipate that Nordstrom, Inc. will post 1.93 EPS for the current year.

Nordstrom Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 14th. Stockholders of record on Tuesday, May 30th will be paid a $0.19 dividend. The ex-dividend date is Friday, May 26th. This represents a $0.76 annualized dividend and a dividend yield of 4.92%. Nordstrom’s dividend payout ratio is currently 50.33%.

Nordstrom Profile

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Nordstrom, Inc engages in the manufacture and trade of clothes, shoes, and accessories. It operates through the following segments: Retail and Corporate/Other. The Retail segment consists of a selection of high-quality, brand-name, and private label merchandise, which includes apparel, shoes, cosmetics, and accessories for women, men, young adults, and children.