Nordstrom, Inc. (NYSE:JWN) Stake Raised by Russell Investments Group Ltd.

Russell Investments Group Ltd. grew its holdings in shares of Nordstrom, Inc. (NYSE:JWN – Get Rating) by 91.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 128,521 shares of the specialty retailer’s stock after buying an additional 61,402 shares during the period. Russell Investments Group Ltd. owned 0.08% of Nordstrom worth $2,074,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also made changes to their positions in the stock. El Puerto de Liverpool S.A.B. de C.V. acquired a new position in shares of Nordstrom during the fourth quarter valued at approximately $254,286,000. Vanguard Group Inc. grew its position in Nordstrom by 1.3% during the 3rd quarter. Vanguard Group Inc. now owns 10,459,699 shares of the specialty retailer’s stock worth $174,992,000 after purchasing an additional 131,102 shares in the last quarter. State Street Corp grew its position in Nordstrom by 5.5% during the 1st quarter. State Street Corp now owns 4,552,284 shares of the specialty retailer’s stock worth $124,245,000 after purchasing an additional 239,120 shares in the last quarter. Fisher Asset Management LLC grew its position in Nordstrom by 33.8% during the 4th quarter. Fisher Asset Management LLC now owns 2,312,992 shares of the specialty retailer’s stock worth $37,332,000 after purchasing an additional 584,293 shares in the last quarter. Finally, Balyasny Asset Management LLC grew its position in Nordstrom by 71.0% during the 3rd quarter. Balyasny Asset Management LLC now owns 2,162,440 shares of the specialty retailer’s stock worth $36,178,000 after purchasing an additional 898,176 shares in the last quarter. Institutional investors and hedge funds own 66.41% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on JWN. Credit Suisse Group reissued a “neutral” rating and set a $17.00 target price on shares of Nordstrom in a research note on Friday, March 3rd. The Goldman Sachs Group initiated coverage on shares of Nordstrom in a report on Monday, January 30th. They set a “neutral” rating and a $20.00 price objective on the stock. Morgan Stanley dropped their price objective on shares of Nordstrom from $21.00 to $19.00 and set an “underweight” rating on the stock in a report on Monday, January 23rd. Barclays lowered their target price on shares of Nordstrom from $16.00 to $14.00 in a research note on Tuesday, May 2nd. Finally, StockNews.com assumed coverage on shares of Nordstrom in a research note on Thursday. They issued a “hold” rating on the stock. Four equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $19.50.

Nordstrom Price Performance

Shares of JWN stock opened at $15.44 on Monday. Nordstrom, Inc. has a 1 year low of $14.02 and a 1 year high of $27.72. The firm’s 50 day moving average is $15.85 and its 200-day moving average is $18.05. The firm has a market capitalization of $2.49 billion, a price-to-earnings ratio of 10.23, a PEG ratio of 1.44 and a beta of 2.21. The company has a current ratio of 1.07, a quick ratio of 0.42 and a debt-to-equity ratio of 3.86.

Nordstrom (NYSE:JWN – Get Rating) last announced 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. Nordstrom had a net margin of 1.58% and a return on equity of 42.08%. The business had revenue of $4.20 billion for the quarter, compared to analyst estimates of $4.33 billion. During the same period in the prior year, the business posted $1.23 earnings per share. Nordstrom’s revenue was down 4.2% compared to the same quarter last year. Sell-side analysts forecast that Nordstrom, Inc. will post 1.93 EPS for the current fiscal year.

Nordstrom Dividend Announcement

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

Nordstrom Profile

(Get Rating)

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.