Vestcor Inc Takes $63,000 Position in Nordstrom, Inc. (NYSE:JWN)

Vestcor Inc bought a new stake in Nordstrom, Inc. (NYSE:JWN) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 2,603 shares of the specialty retailer’s stock, valued at approximately $63,000.

Other institutional investors also recently modified their holdings of the company. Spire Wealth Management raised its stake in shares of Nordstrom by 90.9% in the fourth quarter. Spire Wealth Management now owns 2,100 shares of the specialty retailer’s stock valued at $51,000 after acquiring an additional 1,000 shares during the last quarter. Wolverine Asset Management LLC bought a new position in shares of Nordstrom in the fourth quarter valued at approximately $63,000. KBC Group NV raised its stake in shares of Nordstrom by 36.5% in the fourth quarter. KBC Group NV now owns 4,816 shares of the specialty retailer’s stock valued at $116,000 after acquiring an additional 1,287 shares during the last quarter. Kentucky Retirement Systems Insurance Trust Fund bought a new position in shares of Nordstrom in the fourth quarter valued at approximately $122,000. Finally, Blue Trust Inc. raised its stake in shares of Nordstrom by 51.9% in the fourth quarter. Blue Trust Inc. now owns 5,832 shares of the specialty retailer’s stock valued at $131,000 after acquiring an additional 1,993 shares during the last quarter. Institutional investors own 88.73% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on JWN. 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 report on Wednesday, November 27th. Evercore ISI raised their price target on shares of Nordstrom from $22.00 to $24.00 and gave the company an “in-line” rating in a report on Monday, January 13th. Citigroup raised their price target on shares of Nordstrom from $22.00 to $23.00 and gave the company a “neutral” rating in a report on Tuesday, November 19th. Barclays raised their price target on shares of Nordstrom from $23.00 to $24.00 and gave the company an “equal weight” rating in a report on Thursday, January 16th. Finally, Telsey Advisory Group reissued a “market perform” rating and issued a $24.00 price target on shares of Nordstrom in a report on Wednesday, March 5th. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $22.90.

Nordstrom Price Performance

JWN opened at $24.25 on Wednesday. The company has a fifty day moving average price of $24.25 and a two-hundred day moving average price of $23.47. The company has a debt-to-equity ratio of 2.65, a quick ratio of 0.35 and a current ratio of 1.14. Nordstrom, Inc. has a 52 week low of $16.82 and a 52 week high of $24.99. The firm has a market capitalization of $4.00 billion, a PE ratio of 15.44 and a beta of 2.60.

Nordstrom (NYSE:JWN) last released its earnings results 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 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 analyst estimates of $4.32 billion. As a group, analysts anticipate that Nordstrom, Inc. will post 1.97 earnings per share for the current year.

Nordstrom Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 26th. Stockholders of record on Tuesday, March 11th will be issued a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 3.13%. The ex-dividend date of this dividend is Tuesday, March 11th. Nordstrom’s dividend payout ratio (DPR) is 44.19%.

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.