Los Angeles Capital Management LLC Invests $1.21 Million in Nordstrom, Inc. (NYSE:JWN)

Los Angeles Capital Management LLC purchased a new stake in Nordstrom, Inc. (NYSE:JWN) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 65,646 shares of the specialty retailer’s stock, valued at approximately $1,211,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Victory Capital Management Inc. grew its stake in shares of Nordstrom by 42.2% during the 4th quarter. Victory Capital Management Inc. now owns 3,288,612 shares of the specialty retailer’s stock worth $60,675,000 after purchasing an additional 975,918 shares during the period. Hexagon Capital Partners LLC grew its holdings in shares of Nordstrom by 77.6% in the 4th quarter. Hexagon Capital Partners LLC now owns 1,989 shares of the specialty retailer’s stock worth $37,000 after acquiring an additional 869 shares during the period. Headlands Technologies LLC purchased a new position in Nordstrom in the 4th quarter valued at approximately $190,000. Truist Financial Corp raised its holdings in Nordstrom by 14.8% during the fourth quarter. Truist Financial Corp now owns 55,614 shares of the specialty retailer’s stock worth $1,026,000 after purchasing an additional 7,161 shares during the last quarter. Finally, Alaska Permanent Fund Corp boosted its position in Nordstrom by 3.8% during the fourth quarter. Alaska Permanent Fund Corp now owns 122,593 shares of the specialty retailer’s stock worth $2,262,000 after purchasing an additional 4,493 shares in the last quarter. Institutional investors and hedge funds own 88.73% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently issued reports on JWN. JPMorgan Chase & Co. lifted their price target on Nordstrom from $14.00 to $15.00 and gave the stock an “underweight” rating in a research note on Wednesday, March 6th. Piper Sandler raised their price objective on shares of Nordstrom from $17.00 to $20.00 and gave the stock a “neutral” rating in a research note on Wednesday, March 6th. Jefferies Financial Group reaffirmed a “hold” rating and issued a $17.00 target price (down previously from $18.00) on shares of Nordstrom in a research note on Thursday, March 7th. Citigroup dropped their price target on Nordstrom from $21.00 to $20.00 and set a “neutral” rating for the company in a research report on Wednesday, March 6th. Finally, Bank of America upped their price objective on Nordstrom from $13.00 to $15.00 and gave the company an “underperform” rating in a research report on Wednesday, March 6th. Five analysts have rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $16.54.

Nordstrom Stock Performance

Shares of JWN stock opened at $19.98 on Thursday. The firm has a market capitalization of $3.26 billion, a price-to-earnings ratio of 24.98, a price-to-earnings-growth ratio of 2.28 and a beta of 2.59. Nordstrom, Inc. has a one year low of $12.88 and a one year high of $23.53. The company has a debt-to-equity ratio of 3.08, a quick ratio of 0.41 and a current ratio of 1.02. The company has a 50 day moving average price of $19.04 and a 200 day moving average price of $17.85.

Nordstrom (NYSE:JWN) last issued its earnings results on Tuesday, March 5th. The specialty retailer reported $0.96 EPS for the quarter, beating analysts’ consensus estimates of $0.90 by $0.06. Nordstrom had a net margin of 0.91% and a return on equity of 49.30%. The business had revenue of $4.29 billion for the quarter, compared to the consensus estimate of $4.38 billion. During the same quarter last year, the firm posted $0.74 EPS. The business’s revenue for the quarter was up 2.2% compared to the same quarter last year. Sell-side analysts anticipate that Nordstrom, Inc. will post 1.81 EPS for the current year.

Nordstrom Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 27th. Investors of record on Tuesday, March 12th were issued a dividend of $0.19 per share. The ex-dividend date was Monday, March 11th. This represents a $0.76 annualized dividend and a dividend yield of 3.80%. Nordstrom’s payout ratio is currently 95.00%.

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.