Vanguard Group Inc. Has $256.70 Million Stake in Nordstrom, Inc. (NYSE:JWN)

Vanguard Group Inc. reduced its stake in shares of Nordstrom, Inc. (NYSE:JWN) by 20.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 10,629,378 shares of the specialty retailer’s stock after selling 2,740,213 shares during the quarter. Vanguard Group Inc. owned about 6.44% of Nordstrom worth $256,699,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Hennessy Advisors Inc. bought a new stake in Nordstrom in the fourth quarter valued at approximately $56,026,000. Great Lakes Advisors LLC bought a new stake in shares of Nordstrom in the 4th quarter valued at $21,736,000. American Century Companies Inc. increased its position in shares of Nordstrom by 18.3% in the 4th quarter. American Century Companies Inc. now owns 2,912,254 shares of the specialty retailer’s stock valued at $70,331,000 after buying an additional 450,539 shares in the last quarter. Versor Investments LP acquired a new stake in Nordstrom during the 4th quarter worth $9,409,000. Finally, Charles Schwab Investment Management Inc. lifted its holdings in Nordstrom by 20.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,712,452 shares of the specialty retailer’s stock worth $41,356,000 after acquiring an additional 289,596 shares in the last quarter. 88.73% of the stock is owned by institutional investors.

Nordstrom Stock Down 2.6 %

NYSE:JWN opened at $23.33 on Friday. The firm has a market capitalization of $3.85 billion, a price-to-earnings ratio of 14.86 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, Inc. has a twelve month low of $17.21 and a twelve month high of $24.99. The stock’s 50 day moving average price is $24.29 and its two-hundred day moving average price is $23.62.

Nordstrom (NYSE:JWN) last posted its quarterly 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. Nordstrom had a negative net margin of 1.57% and a negative return on equity of 18.04%. The firm had revenue of $4.32 billion for the quarter, compared to analyst estimates of $4.32 billion. Equities research analysts expect that Nordstrom, Inc. will post 1.97 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on JWN shares. Telsey Advisory Group reaffirmed a “market perform” rating and set a $24.00 price target on shares of Nordstrom in a research report on Wednesday, March 5th. Barclays raised their target price on shares of Nordstrom from $23.00 to $24.00 and gave the stock an “equal weight” rating in a report on Thursday, January 16th. Argus cut shares of Nordstrom from a “buy” rating to a “sell” rating in a report on Monday, December 30th. StockNews.com initiated coverage on shares of Nordstrom in a report on Monday, March 31st. They set a “buy” rating on the stock. Finally, Evercore ISI upped their target price on shares of Nordstrom from $22.00 to $24.00 and gave the stock an “in-line” rating in a research note on Monday, January 13th. Four research analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Nordstrom currently has a consensus rating of “Hold” and a consensus target price of $22.80.

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.