LSV Asset Management Buys 203,807 Shares of Nordstrom, Inc. (NYSE:JWN)

LSV Asset Management raised its position in Nordstrom, Inc. (NYSE:JWN) by 15.2% in the 4th quarter, Holdings Channel reports. The firm owned 1,544,496 shares of the specialty retailer’s stock after buying an additional 203,807 shares during the quarter. LSV Asset Management’s holdings in Nordstrom were worth $28,496,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Cooper Creek Partners Management LLC lifted its stake in Nordstrom by 42.4% during the third quarter. Cooper Creek Partners Management LLC now owns 3,908,377 shares of the specialty retailer’s stock worth $58,391,000 after purchasing an additional 1,163,437 shares during the last quarter. Victory Capital Management Inc. lifted its stake in Nordstrom by 42.2% in the fourth quarter. Victory Capital Management Inc. now owns 3,288,612 shares of the specialty retailer’s stock worth $60,675,000 after purchasing an additional 975,918 shares during the last quarter. Schroder Investment Management Group boosted its position in Nordstrom by 14.4% during the third quarter. Schroder Investment Management Group now owns 1,828,247 shares of the specialty retailer’s stock valued at $27,314,000 after buying an additional 229,544 shares during the period. AQR Capital Management LLC grew its stake in shares of Nordstrom by 29.6% during the third quarter. AQR Capital Management LLC now owns 1,495,469 shares of the specialty retailer’s stock valued at $22,238,000 after buying an additional 341,491 shares during the last quarter. Finally, Invesco Ltd. increased its holdings in shares of Nordstrom by 12.2% in the third quarter. Invesco Ltd. now owns 689,716 shares of the specialty retailer’s stock worth $10,304,000 after buying an additional 75,245 shares during the period. Hedge funds and other institutional investors own 88.73% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on JWN shares. Bank of America increased their target price on Nordstrom from $13.00 to $15.00 and gave the company an “underperform” rating in a report on Wednesday, March 6th. Citigroup dropped their price objective on Nordstrom from $21.00 to $20.00 and set a “neutral” rating for the company in a research note on Wednesday, March 6th. Piper Sandler lifted their target price on shares of Nordstrom from $17.00 to $20.00 and gave the stock a “neutral” rating in a research note on Wednesday, March 6th. StockNews.com upgraded shares of Nordstrom from a “hold” rating to a “buy” rating in a report on Thursday, March 14th. Finally, Jefferies Financial Group reissued a “hold” rating and issued a $17.00 price target (down previously from $18.00) on shares of Nordstrom in a report on Thursday, March 7th. Five equities 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’s stock. According to data from MarketBeat.com, Nordstrom presently has a consensus rating of “Hold” and a consensus price target of $16.54.

Nordstrom Price Performance

JWN stock opened at $20.19 on Monday. The company has a debt-to-equity ratio of 3.08, a current ratio of 1.02 and a quick ratio of 0.41. Nordstrom, Inc. has a 1 year low of $12.88 and a 1 year high of $23.53. The firm has a 50-day moving average of $19.11 and a 200 day moving average of $17.75. The company has a market cap of $3.30 billion, a P/E ratio of 25.13, a PEG ratio of 2.28 and a beta of 2.59.

Nordstrom (NYSE:JWN) last posted its earnings results on Tuesday, March 5th. The specialty retailer reported $0.96 earnings per share for the quarter, topping analysts’ consensus estimates of $0.90 by $0.06. The firm had revenue of $4.29 billion for the quarter, compared to the consensus estimate of $4.38 billion. Nordstrom had a return on equity of 49.30% and a net margin of 0.91%. The business’s revenue for the quarter was up 2.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.74 EPS. On average, sell-side analysts forecast that Nordstrom, Inc. will post 1.81 EPS for the current year.

Nordstrom Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 27th. Shareholders of record on Tuesday, March 12th were issued a $0.19 dividend. The ex-dividend date was Monday, March 11th. This represents a $0.76 dividend on an annualized basis and a yield of 3.76%. Nordstrom’s dividend payout ratio (DPR) is 95.00%.

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.