Versor Investments LP Makes New Investment in Nordstrom, Inc. (NYSE:JWN)

Versor Investments LP purchased a new position in shares of Nordstrom, Inc. (NYSE:JWN) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 389,624 shares of the specialty retailer’s stock, valued at approximately $9,409,000. Nordstrom makes up 1.6% of Versor Investments LP’s holdings, making the stock its largest holding. Versor Investments LP owned about 0.24% of Nordstrom as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Retirement Systems of Alabama grew its stake in shares of Nordstrom by 0.4% in the fourth quarter. Retirement Systems of Alabama now owns 117,801 shares of the specialty retailer’s stock worth $2,845,000 after purchasing an additional 512 shares during the last quarter. Amalgamated Bank lifted its holdings in Nordstrom by 1.4% during the 4th quarter. Amalgamated Bank now owns 45,083 shares of the specialty retailer’s stock worth $1,089,000 after buying an additional 617 shares during the period. Janney Montgomery Scott LLC grew its position in shares of Nordstrom by 1.2% in the 4th quarter. Janney Montgomery Scott LLC now owns 55,956 shares of the specialty retailer’s stock valued at $1,351,000 after buying an additional 640 shares during the last quarter. Wedmont Private Capital increased its stake in shares of Nordstrom by 6.7% in the fourth quarter. Wedmont Private Capital now owns 11,589 shares of the specialty retailer’s stock valued at $278,000 after buying an additional 723 shares during the period. Finally, State of Alaska Department of Revenue raised its position in shares of Nordstrom by 7.3% during the third quarter. State of Alaska Department of Revenue now owns 11,236 shares of the specialty retailer’s stock worth $252,000 after acquiring an additional 760 shares during the last quarter. 88.73% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently commented on JWN. UBS Group upgraded Nordstrom from a “sell” rating to a “neutral” rating and upped their target price for the company from $14.50 to $24.00 in a report on Friday, January 10th. StockNews.com started coverage on shares of Nordstrom in a research note on Thursday. They issued a “buy” rating on the stock. Barclays lifted their target price on shares of Nordstrom from $23.00 to $24.00 and gave the stock an “equal weight” rating in a research note on Thursday, January 16th. Telsey Advisory Group reaffirmed a “market perform” rating and set a $24.00 price target on shares of Nordstrom in a research report on Tuesday. Finally, Evercore ISI lifted their price objective on Nordstrom from $22.00 to $24.00 and gave the stock an “in-line” rating in a research report on Monday, January 13th. Three analysts have rated the stock with a sell rating, eleven have issued a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $22.17.

Nordstrom Price Performance

Shares of JWN opened at $24.34 on Thursday. The business’s fifty day moving average is $24.22 and its 200 day moving average is $23.22. Nordstrom, Inc. has a 12-month low of $16.78 and a 12-month high of $24.99. The company has a quick ratio of 0.35, a current ratio of 1.14 and a debt-to-equity ratio of 2.65. The stock has a market cap of $4.02 billion, a P/E ratio of 15.50 and a beta of 2.51.

Nordstrom (NYSE:JWN) last released its quarterly earnings data on Tuesday, November 26th. The specialty retailer reported $0.33 earnings per share 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 analyst estimates of $3.34 billion. During the same period last year, the firm earned $0.25 earnings per share. The business’s quarterly revenue was up 4.6% compared to the same quarter last year. Sell-side analysts anticipate that Nordstrom, Inc. will post 1.97 earnings per share for the current fiscal year.

Nordstrom Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 26th. Shareholders of record on Tuesday, March 11th will be issued a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 3.12%. Nordstrom’s dividend payout ratio is currently 48.41%.

Nordstrom Company 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.