Rhumbline Advisers Grows Holdings in Nordstrom, Inc. (NYSE:JWN)

Rhumbline Advisers increased its position in shares of Nordstrom, Inc. (NYSE:JWN) by 0.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 271,048 shares of the specialty retailer’s stock after acquiring an additional 1,231 shares during the period. Rhumbline Advisers owned about 0.16% of Nordstrom worth $6,546,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. New York State Teachers Retirement System raised its position in Nordstrom by 7.0% in the 4th quarter. New York State Teachers Retirement System now owns 119,575 shares of the specialty retailer’s stock valued at $2,888,000 after purchasing an additional 7,838 shares in the last quarter. Empowered Funds LLC purchased a new position in Nordstrom in the fourth quarter worth approximately $378,000. Measured Wealth Private Client Group LLC acquired a new position in Nordstrom during the 4th quarter worth approximately $482,000. State of Alaska Department of Revenue increased its position in shares of Nordstrom by 603.5% in the 4th quarter. State of Alaska Department of Revenue now owns 79,046 shares of the specialty retailer’s stock valued at $1,908,000 after purchasing an additional 67,810 shares during the last quarter. Finally, Retirement Systems of Alabama lifted its position in shares of Nordstrom by 0.4% during the 4th quarter. Retirement Systems of Alabama now owns 117,801 shares of the specialty retailer’s stock worth $2,845,000 after purchasing an additional 512 shares during the last quarter. Institutional investors and hedge funds own 88.73% of the company’s stock.

Nordstrom Price Performance

Shares of JWN opened at $24.34 on Thursday. The company has a market capitalization of $4.02 billion, a price-to-earnings ratio of 15.50 and a beta of 2.51. Nordstrom, Inc. has a fifty-two week low of $16.78 and a fifty-two week high of $24.99. The firm has a 50-day simple moving average of $24.22 and a 200-day simple moving average of $23.22. The company has a debt-to-equity ratio of 2.65, a quick ratio of 0.35 and a current ratio of 1.14.

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

Nordstrom Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 26th. Investors of record on Tuesday, March 11th will be given a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 3.12%. Nordstrom’s payout ratio is currently 48.41%.

Analysts Set New Price Targets

JWN has been the topic of several recent analyst reports. Bank of America increased their target price on Nordstrom from $20.00 to $22.00 and gave the company an “underperform” rating in a report on Wednesday, November 27th. Evercore ISI raised their target price on Nordstrom from $22.00 to $24.00 and gave the stock an “in-line” rating in a research report on Monday, January 13th. StockNews.com assumed coverage on Nordstrom in a report on Thursday. They issued a “buy” rating for the company. Telsey Advisory Group reissued a “market perform” rating and set a $24.00 price objective on shares of Nordstrom in a report on Tuesday. Finally, Citigroup upped their target price on shares of Nordstrom from $22.00 to $23.00 and gave the company a “neutral” rating in a report on Tuesday, November 19th. Three equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $22.17.

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.