Charles Schwab Investment Management Inc. Purchases 289,596 Shares of Nordstrom, Inc. (NYSE:JWN)

Charles Schwab Investment Management Inc. raised its stake in Nordstrom, Inc. (NYSE:JWN) by 20.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,712,452 shares of the specialty retailer’s stock after purchasing an additional 289,596 shares during the period. Charles Schwab Investment Management Inc. owned approximately 1.04% of Nordstrom worth $41,356,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. State of New Jersey Common Pension Fund D boosted its holdings in Nordstrom by 5.9% during the third 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 purchasing an additional 5,072 shares in the last quarter. Venturi Wealth Management LLC lifted its stake in shares of 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 purchasing an additional 993 shares during the period. Caprock Group LLC grew its position in shares of Nordstrom by 9.1% during the 3rd quarter. Caprock Group LLC now owns 11,931 shares of the specialty retailer’s stock worth $268,000 after buying an additional 1,000 shares during the period. Landscape Capital Management L.L.C. bought a new stake in Nordstrom in the third quarter valued at approximately $212,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Nordstrom by 2.4% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 310,578 shares of the specialty retailer’s stock worth $6,985,000 after buying an additional 7,139 shares during the period. 88.73% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on JWN shares. Citigroup boosted their price objective on shares of Nordstrom from $22.00 to $23.00 and gave the company a “neutral” rating in a research report on Tuesday, November 19th. StockNews.com initiated coverage on shares of Nordstrom in a research note on Saturday. They issued a “buy” rating for the company. Argus lowered shares of Nordstrom from a “buy” rating to a “sell” rating in a research report on Monday, December 30th. Barclays lifted their target price on Nordstrom from $23.00 to $24.00 and gave the stock an “equal weight” rating in a report on Thursday, January 16th. Finally, Evercore ISI raised their price objective on Nordstrom from $22.00 to $24.00 and gave the stock an “in-line” rating in a research note on Monday, January 13th. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Nordstrom currently has a consensus rating of “Hold” and an average price target of $22.90.

Nordstrom Trading Down 0.1 %

Shares of JWN stock opened at $24.21 on Friday. The stock’s fifty day simple moving average is $24.25 and its 200 day simple moving average is $23.43. Nordstrom, Inc. has a twelve month low of $16.79 and a twelve month high of $24.99. The firm has a market capitalization of $3.99 billion, a P/E ratio of 15.42 and a beta of 2.60. 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 announced its earnings results on Tuesday, March 4th. The specialty retailer reported $1.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.90 by $0.20. The business had revenue of $4.32 billion during the quarter, compared to analyst estimates 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, sell-side analysts predict that Nordstrom, Inc. will post 1.97 EPS for the current fiscal year.

Nordstrom Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 26th. Shareholders of record on Tuesday, March 11th will be issued a $0.19 dividend. 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 payout ratio is currently 44.19%.

Nordstrom 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.