KBC Group NV Acquires 1,287 Shares of Nordstrom, Inc. (NYSE:JWN)

KBC Group NV lifted its holdings in Nordstrom, Inc. (NYSE:JWN) by 36.5% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 4,816 shares of the specialty retailer’s stock after acquiring an additional 1,287 shares during the quarter. KBC Group NV’s holdings in Nordstrom were worth $116,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the business. Blue Trust Inc. boosted its position in Nordstrom by 51.9% during the fourth quarter. Blue Trust Inc. now owns 5,832 shares of the specialty retailer’s stock valued at $131,000 after buying an additional 1,993 shares during the period. Cyndeo Wealth Partners LLC lifted its stake in shares of Nordstrom by 4.7% in the 4th quarter. Cyndeo Wealth Partners LLC now owns 290,814 shares of the specialty retailer’s stock valued at $7,023,000 after acquiring an additional 13,021 shares during the last quarter. Avior Wealth Management LLC bought a new position in Nordstrom during the 4th quarter worth approximately $415,000. Janney Montgomery Scott LLC grew its position in Nordstrom by 1.2% during the 4th quarter. Janney Montgomery Scott LLC now owns 55,956 shares of the specialty retailer’s stock worth $1,351,000 after acquiring an additional 640 shares during the last quarter. Finally, Crossmark Global Holdings Inc. increased its stake in Nordstrom by 171.3% in the 4th quarter. Crossmark Global Holdings Inc. now owns 100,733 shares of the specialty retailer’s stock worth $2,432,000 after purchasing an additional 63,600 shares during the period. 88.73% of the stock is currently owned by institutional investors.

Nordstrom Stock Down 0.3 %

JWN stock opened at $24.26 on Friday. The company has a debt-to-equity ratio of 2.65, a current ratio of 1.14 and a quick ratio of 0.35. Nordstrom, Inc. has a 1-year low of $16.78 and a 1-year high of $24.99. The stock has a market capitalization of $4.00 billion, a P/E ratio of 15.45 and a beta of 2.51. The business has a fifty day moving average price of $23.88 and a 200-day moving average price of $22.97.

Nordstrom (NYSE:JWN) last announced its quarterly earnings results on Tuesday, November 26th. The specialty retailer reported $0.33 earnings per share (EPS) 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 the consensus estimate of $3.34 billion. During the same quarter last year, the firm posted $0.25 EPS. The business’s quarterly revenue was up 4.6% compared to the same quarter last year. Equities analysts forecast that Nordstrom, Inc. will post 1.97 earnings per share for the current fiscal year.

Nordstrom Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, December 18th. Stockholders of record on Tuesday, December 3rd were issued a dividend of $0.19 per share. The ex-dividend date was Tuesday, December 3rd. This represents a $0.76 annualized dividend and a dividend yield of 3.13%. Nordstrom’s payout ratio is 48.41%.

Wall Street Analysts Forecast Growth

JWN has been the topic of several analyst reports. Citigroup lifted their target price on shares of Nordstrom from $22.00 to $23.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 19th. Telsey Advisory Group reaffirmed a “market perform” rating and set a $24.00 price objective on shares of Nordstrom in a research note on Monday, January 13th. 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 note on Monday, January 13th. StockNews.com assumed coverage on Nordstrom in a report on Monday, February 3rd. They set a “buy” rating on the stock. Finally, UBS Group upgraded Nordstrom from a “sell” rating to a “neutral” rating and lifted their price objective for the stock from $14.50 to $24.00 in a research report on Friday, January 10th. 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 stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price 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.