Wedge Capital Management L L P NC Boosts Stock Holdings in Nordstrom, Inc. (NYSE:JWN)

Wedge Capital Management L L P NC grew its holdings in Nordstrom, Inc. (NYSE:JWN) by 26.0% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 87,184 shares of the specialty retailer’s stock after buying an additional 18,013 shares during the period. Wedge Capital Management L L P NC owned approximately 0.05% of Nordstrom worth $1,609,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Cooper Creek Partners Management LLC grew its stake in shares of Nordstrom by 42.4% in the 3rd quarter. Cooper Creek Partners Management LLC now owns 3,908,377 shares of the specialty retailer’s stock worth $58,391,000 after buying an additional 1,163,437 shares in the last quarter. Victory Capital Management Inc. grew its stake in shares of Nordstrom by 48.7% in the 3rd quarter. Victory Capital Management Inc. now owns 2,312,694 shares of the specialty retailer’s stock worth $34,552,000 after buying an additional 757,000 shares in the last quarter. Schroder Investment Management Group grew its stake in shares of Nordstrom by 14.4% in the 3rd quarter. Schroder Investment Management Group now owns 1,828,247 shares of the specialty retailer’s stock worth $27,314,000 after buying an additional 229,544 shares in the last quarter. AQR Capital Management LLC lifted its holdings in shares of Nordstrom by 29.6% in the 3rd quarter. AQR Capital Management LLC now owns 1,495,469 shares of the specialty retailer’s stock worth $22,238,000 after acquiring an additional 341,491 shares during the last quarter. Finally, Invesco Ltd. lifted its holdings in shares of Nordstrom by 12.2% in the 3rd quarter. Invesco Ltd. now owns 689,716 shares of the specialty retailer’s stock worth $10,304,000 after acquiring an additional 75,245 shares during the last quarter. 88.73% of the stock is owned by hedge funds and other institutional investors.

Nordstrom Trading Down 2.4 %

NYSE:JWN opened at $19.24 on Thursday. Nordstrom, Inc. has a one year low of $12.88 and a one year high of $23.53. The company has a debt-to-equity ratio of 3.08, a quick ratio of 0.41 and a current ratio of 1.02. The firm has a market cap of $3.14 billion, a P/E ratio of 24.05, a P/E/G ratio of 2.23 and a beta of 2.59. The firm has a 50-day simple moving average of $19.22 and a 200-day simple moving average of $17.48.

Nordstrom (NYSE:JWN) last issued its quarterly earnings data on Tuesday, March 5th. The specialty retailer reported $0.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.90 by $0.06. Nordstrom had a net margin of 0.91% and a return on equity of 49.30%. The firm had revenue of $4.29 billion for the quarter, compared to the consensus estimate of $4.38 billion. During the same quarter in the previous year, the firm earned $0.74 EPS. The company’s quarterly revenue was up 2.2% compared to the same quarter last year. Equities analysts anticipate that Nordstrom, Inc. will post 1.81 EPS for the current fiscal year.

Nordstrom Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 27th. Stockholders of record on Tuesday, March 12th were given a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 3.95%. The ex-dividend date of this dividend was Monday, March 11th. Nordstrom’s payout ratio is currently 95.00%.

Analysts Set New Price Targets

JWN has been the subject of several analyst reports. The Goldman Sachs Group raised their target price on shares of Nordstrom from $16.00 to $18.00 and gave the stock a “neutral” rating in a report on Wednesday, March 6th. Jefferies Financial Group restated a “hold” rating and issued a $17.00 target price (down previously from $18.00) on shares of Nordstrom in a report on Thursday, March 7th. Telsey Advisory Group restated a “market perform” rating and issued a $19.00 target price on shares of Nordstrom in a report on Friday, April 19th. Bank of America raised their target price on shares of Nordstrom from $13.00 to $15.00 and gave the stock an “underperform” rating in a report on Wednesday, March 6th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Nordstrom from $14.00 to $15.00 and gave the company an “underweight” rating in a report on Wednesday, March 6th. Five research analysts have rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, Nordstrom currently has a consensus rating of “Hold” and a consensus target price of $16.54.

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.