AlphaQuest LLC Increases Stock Position in Nordstrom, Inc. (NYSE:JWN)

AlphaQuest LLC grew its holdings in shares of Nordstrom, Inc. (NYSE:JWN) by 41,553.8% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 10,830 shares of the specialty retailer’s stock after buying an additional 10,804 shares during the period. AlphaQuest LLC’s holdings in Nordstrom were worth $262,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Hennessy Advisors Inc. bought a new stake in Nordstrom during the fourth quarter worth about $56,026,000. Charles Schwab Investment Management Inc. boosted its position in shares of Nordstrom by 20.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,712,452 shares of the specialty retailer’s stock worth $41,356,000 after purchasing an additional 289,596 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Nordstrom by 0.3% in the 3rd quarter. Geode Capital Management LLC now owns 1,625,616 shares of the specialty retailer’s stock worth $36,570,000 after buying an additional 5,407 shares during the last quarter. Verition Fund Management LLC increased its position in Nordstrom by 147.4% during the 3rd quarter. Verition Fund Management LLC now owns 1,218,365 shares of the specialty retailer’s stock valued at $27,401,000 after buying an additional 725,803 shares in the last quarter. Finally, Versor Investments LP purchased a new position in Nordstrom during the fourth quarter valued at $9,409,000. 88.73% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have recently weighed in on JWN shares. Barclays raised their price target on Nordstrom from $23.00 to $24.00 and gave the company an “equal weight” rating in a report on Thursday, January 16th. Telsey Advisory Group reiterated a “market perform” rating and issued a $24.00 target price on shares of Nordstrom in a research note on Wednesday, March 5th. Bank of America raised their price target on shares of Nordstrom from $20.00 to $22.00 and gave the company an “underperform” rating in a research report on Wednesday, November 27th. Citigroup increased their target price on Nordstrom from $22.00 to $23.00 and gave the company a “neutral” rating in a research note on Tuesday, November 19th. Finally, Evercore ISI boosted their price target on Nordstrom from $22.00 to $24.00 and gave the stock an “in-line” rating in a research note on Monday, January 13th. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has issued a buy rating to the stock. According to MarketBeat, Nordstrom currently has an average rating of “Hold” and a consensus price target of $22.90.

Nordstrom Stock Performance

JWN opened at $24.21 on Friday. The company’s 50 day moving average is $24.25 and its 200 day moving average is $23.43. The company has a current ratio of 1.14, a quick ratio of 0.35 and a debt-to-equity ratio of 2.65. The company has a market cap of $3.99 billion, a price-to-earnings ratio of 15.42 and a beta of 2.60. Nordstrom, Inc. has a 12-month low of $16.79 and a 12-month high of $24.99.

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

Nordstrom Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 26th. Stockholders of record on Tuesday, March 11th will be given a dividend of $0.19 per share. The ex-dividend date is Tuesday, March 11th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 3.14%. Nordstrom’s payout ratio is currently 44.19%.

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.