Proficio Capital Partners LLC Invests $365,000 in Nordstrom, Inc. (NYSE:JWN)

Proficio Capital Partners LLC acquired a new position in Nordstrom, Inc. (NYSE:JWN) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 15,118 shares of the specialty retailer’s stock, valued at approximately $365,000.

Several other large investors have also recently added to or reduced their stakes in JWN. Spire Wealth Management boosted its stake in Nordstrom by 90.9% during the fourth quarter. Spire Wealth Management now owns 2,100 shares of the specialty retailer’s stock valued at $51,000 after buying an additional 1,000 shares in the last quarter. Wolverine Asset Management LLC bought a new stake in shares of Nordstrom in the 4th quarter worth approximately $63,000. KBC Group NV boosted its holdings in Nordstrom by 36.5% during the fourth quarter. KBC Group NV now owns 4,816 shares of the specialty retailer’s stock worth $116,000 after buying an additional 1,287 shares in the last quarter. Kentucky Retirement Systems Insurance Trust Fund acquired a new position in Nordstrom in the fourth quarter worth approximately $122,000. Finally, Blue Trust Inc. lifted its position in shares of Nordstrom by 51.9% during the 4th quarter. Blue Trust Inc. now owns 5,832 shares of the specialty retailer’s stock valued at $131,000 after acquiring an additional 1,993 shares during the last quarter. 88.73% of the stock is currently owned by institutional investors and hedge funds.

Nordstrom Price Performance

JWN opened at $24.40 on Wednesday. The company has a current ratio of 1.14, a quick ratio of 0.35 and a debt-to-equity ratio of 2.65. Nordstrom, Inc. has a 1 year low of $17.21 and a 1 year high of $24.99. The stock has a fifty day moving average price of $24.27 and a 200 day moving average price of $23.53. The stock has a market cap of $4.03 billion, a price-to-earnings ratio of 15.54 and a beta of 2.60.

Nordstrom (NYSE:JWN) last announced its quarterly earnings results on Tuesday, March 4th. The specialty retailer reported $1.10 EPS for the quarter, beating the consensus estimate of $0.90 by $0.20. The business had revenue of $4.32 billion during the quarter, compared to analysts’ expectations of $4.32 billion. Nordstrom had a negative return on equity of 18.04% and a negative net margin of 1.57%. Analysts forecast that Nordstrom, Inc. will post 1.97 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

JWN has been the subject of several analyst reports. Bank of America upped 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. UBS Group raised shares of Nordstrom from a “sell” rating to a “neutral” rating and upped their price objective for the company from $14.50 to $24.00 in a research note on Friday, January 10th. StockNews.com started coverage on shares of Nordstrom in a research report on Sunday. They issued a “buy” rating on the stock. Argus downgraded shares of Nordstrom from a “buy” rating to a “sell” rating in a research report on Monday, December 30th. Finally, Barclays lifted their price objective on shares of Nordstrom from $23.00 to $24.00 and gave the stock an “equal weight” rating in a research report on Thursday, January 16th. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $22.90.

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.