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

Proficio Capital Partners LLC purchased a new stake in shares of Nordstrom, Inc. (NYSE:JWN) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 15,118 shares of the specialty retailer’s stock, valued at approximately $365,000.

Other institutional investors have also recently made changes to their positions in the company. Amalgamated Bank lifted its position in Nordstrom by 1.4% in the 4th quarter. Amalgamated Bank now owns 45,083 shares of the specialty retailer’s stock valued at $1,089,000 after acquiring an additional 617 shares in the last quarter. Wolverine Asset Management LLC bought a new position in Nordstrom during the fourth quarter valued at approximately $63,000. Hussman Strategic Advisors Inc. boosted its holdings in Nordstrom by 33.3% in the fourth quarter. Hussman Strategic Advisors Inc. now owns 84,000 shares of the specialty retailer’s stock worth $2,029,000 after purchasing an additional 21,000 shares during the last quarter. Handelsbanken Fonder AB grew its position in Nordstrom by 30.2% in the 4th quarter. Handelsbanken Fonder AB now owns 28,430 shares of the specialty retailer’s stock worth $687,000 after purchasing an additional 6,600 shares during the period. Finally, Kentucky Retirement Systems Insurance Trust Fund purchased a new stake in Nordstrom during the 4th quarter valued at $122,000. Hedge funds and other institutional investors own 88.73% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on JWN shares. UBS Group upgraded Nordstrom from a “sell” rating to a “neutral” rating and raised their price target for the stock from $14.50 to $24.00 in a research note on Friday, January 10th. 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. Barclays upped their price target on shares of Nordstrom from $23.00 to $24.00 and gave the company an “equal weight” rating in a research report on Thursday, January 16th. Citigroup raised their price objective on shares of Nordstrom from $22.00 to $23.00 and gave the stock a “neutral” rating in a report on Tuesday, November 19th. Finally, Telsey Advisory Group restated a “market perform” rating and set a $24.00 target price on shares of Nordstrom in a research report on Wednesday, March 5th. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, Nordstrom presently has an average rating of “Hold” and a consensus price target of $22.90.

Nordstrom Stock Down 0.1 %

Shares of JWN stock opened at $24.42 on Tuesday. 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 one year low of $16.78 and a one year high of $24.99. The company’s fifty day moving average price is $24.24 and its 200-day moving average price is $23.37. The company has a market capitalization of $4.03 billion, a price-to-earnings ratio of 15.55 and a beta of 2.60.

Nordstrom (NYSE:JWN) last posted its quarterly earnings results on Tuesday, March 4th. The specialty retailer reported $1.10 EPS for the quarter, beating analysts’ consensus estimates of $0.90 by $0.20. The business had revenue of $4.32 billion for 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%. Sell-side analysts expect that Nordstrom, Inc. will post 1.97 EPS for the current fiscal year.

Nordstrom Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 26th. Shareholders of record on Tuesday, March 11th will be paid a $0.19 dividend. The ex-dividend date is Tuesday, March 11th. This represents a $0.76 annualized dividend and a yield of 3.11%. Nordstrom’s payout ratio is 44.19%.

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.