Pentwater Capital Management LP Makes New Investment in Nordstrom, Inc. (NYSE:JWN)

Pentwater Capital Management LP 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 2,550,000 shares of the specialty retailer’s stock, valued at approximately $61,582,000. Nordstrom accounts for 0.7% of Pentwater Capital Management LP’s investment portfolio, making the stock its 13th biggest holding. Pentwater Capital Management LP owned approximately 1.54% of Nordstrom as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in JWN. Hennessy Advisors Inc. bought a new stake in shares of Nordstrom in the 4th quarter worth $56,026,000. Norges Bank purchased a new position in Nordstrom during the 4th quarter valued at approximately $33,480,000. Great Lakes Advisors LLC purchased a new position in shares of Nordstrom in the fourth quarter valued at $21,736,000. American Century Companies Inc. grew its holdings in shares of Nordstrom by 18.3% in the fourth quarter. American Century Companies Inc. now owns 2,912,254 shares of the specialty retailer’s stock valued at $70,331,000 after purchasing an additional 450,539 shares in the last quarter. Finally, Versor Investments LP purchased a new position in Nordstrom during the fourth quarter worth $9,409,000. Hedge funds and other institutional investors own 88.73% of the company’s stock.

Analyst Ratings Changes

JWN has been the subject of several research analyst reports. StockNews.com assumed coverage on Nordstrom in a research report on Thursday, April 24th. They set a “buy” rating for the company. Barclays raised their target price on shares of Nordstrom from $23.00 to $24.00 and gave the company an “equal weight” rating in a research note on Thursday, January 16th. Evercore ISI lifted their price objective 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. Telsey Advisory Group reiterated a “market perform” rating and issued a $24.00 target price on shares of Nordstrom in a research report on Wednesday, March 5th. Finally, Citigroup reissued a “sell” rating and set a $22.00 target price (down previously from $25.00) on shares of Nordstrom in a report on Friday, April 4th. Four 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, Nordstrom has an average rating of “Hold” and a consensus target price of $22.80.

Nordstrom Stock Performance

NYSE JWN opened at $24.17 on Tuesday. The business’s 50 day moving average is $24.13 and its two-hundred day moving average is $23.82. The stock has a market capitalization of $4.04 billion, a price-to-earnings ratio of 15.40 and a beta of 2.31. The company has a current ratio of 1.14, a quick ratio of 0.35 and a debt-to-equity ratio of 2.65. Nordstrom, Inc. has a 12-month low of $18.57 and a 12-month high of $24.99.

Nordstrom (NYSE:JWN) last posted its quarterly earnings data on Tuesday, March 4th. The specialty retailer reported $1.10 EPS for the quarter, topping analysts’ consensus estimates of $0.90 by $0.20. Nordstrom had a negative return on equity of 18.04% and a negative net margin of 1.57%. The firm had revenue of $4.32 billion during the quarter, compared to analysts’ expectations of $4.32 billion. Research analysts expect that Nordstrom, Inc. will post 1.97 EPS for the current year.

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.