Kentucky Retirement Systems Insurance Trust Fund Takes Position in Nordstrom, Inc. (NYSE:JWN)

Kentucky Retirement Systems Insurance Trust Fund bought a new stake in Nordstrom, Inc. (NYSE:JWN) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 5,067 shares of the specialty retailer’s stock, valued at approximately $122,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in JWN. 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. Spire Wealth Management lifted its stake in shares of Nordstrom by 90.9% in the 4th quarter. Spire Wealth Management now owns 2,100 shares of the specialty retailer’s stock valued at $51,000 after purchasing an additional 1,000 shares during the period. Blue Trust Inc. raised its stake in Nordstrom by 57.7% during the third quarter. Blue Trust Inc. now owns 3,839 shares of the specialty retailer’s stock valued at $81,000 after buying an additional 1,404 shares during the last quarter. CWM LLC raised its stake in Nordstrom by 28.7% during the third quarter. CWM LLC now owns 3,628 shares of the specialty retailer’s stock valued at $82,000 after buying an additional 810 shares during the last quarter. Finally, KBC Group NV raised its stake in Nordstrom by 36.5% during the fourth quarter. KBC Group NV now owns 4,816 shares of the specialty retailer’s stock valued at $116,000 after buying an additional 1,287 shares during the last quarter. Hedge funds and other institutional investors own 88.73% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have issued reports on JWN. Bank of America lifted their price objective on Nordstrom from $20.00 to $22.00 and gave the company an “underperform” rating in a research note on Wednesday, November 27th. UBS Group upgraded Nordstrom from a “sell” rating to a “neutral” rating and lifted their price objective for the company from $14.50 to $24.00 in a research note on Friday, January 10th. Barclays lifted their price objective on Nordstrom from $23.00 to $24.00 and gave the company an “equal weight” rating in a research note on Thursday, January 16th. Telsey Advisory Group reiterated a “market perform” rating and set a $24.00 price objective on shares of Nordstrom in a research note on Monday, January 13th. Finally, Argus cut Nordstrom from a “buy” rating to a “sell” rating in a research note on Monday, December 30th. Three investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $22.17.

Nordstrom Stock Performance

Shares of JWN opened at $24.33 on Thursday. 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 firm has a market capitalization of $4.01 billion, a P/E ratio of 15.49 and a beta of 2.51. The business has a fifty day moving average of $24.09 and a 200 day moving average of $23.13.

Nordstrom (NYSE:JWN) last issued its quarterly earnings data on Tuesday, November 26th. The specialty retailer reported $0.33 EPS for the quarter, topping the consensus estimate of $0.22 by $0.11. Nordstrom had a negative return on equity of 18.04% and a negative net margin of 1.57%. The company had revenue of $3.35 billion during the quarter, compared to analyst estimates of $3.34 billion. During the same quarter in the previous year, the company posted $0.25 earnings per share. Nordstrom’s revenue was up 4.6% compared to the same quarter last year. As a group, sell-side analysts anticipate that Nordstrom, Inc. will post 1.97 EPS for the current year.

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.