Versor Investments LP Makes New Investment in Nordstrom, Inc. (NYSE:JWN)

Versor Investments LP purchased a new stake in shares of Nordstrom, Inc. (NYSE:JWN) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 389,624 shares of the specialty retailer’s stock, valued at approximately $9,409,000. Nordstrom makes up about 1.6% of Versor Investments LP’s investment portfolio, making the stock its largest position.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Hennessy Advisors Inc. bought a new position in Nordstrom in the 4th quarter valued at $56,026,000. Geode Capital Management LLC grew its position in Nordstrom by 0.3% during the third quarter. Geode Capital Management LLC now owns 1,625,616 shares of the specialty retailer’s stock valued at $36,570,000 after buying an additional 5,407 shares during the period. Charles Schwab Investment Management Inc. grew its position in Nordstrom by 17.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,422,856 shares of the specialty retailer’s stock valued at $32,000,000 after buying an additional 208,193 shares during the period. Verition Fund Management LLC increased its holdings in Nordstrom by 147.4% during the third quarter. Verition Fund Management LLC now owns 1,218,365 shares of the specialty retailer’s stock worth $27,401,000 after buying an additional 725,803 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its position in Nordstrom by 29.7% in the third quarter. JPMorgan Chase & Co. now owns 388,796 shares of the specialty retailer’s stock worth $8,744,000 after acquiring an additional 89,114 shares during the period. 88.73% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on JWN. StockNews.com started coverage on shares of Nordstrom in a research report on Thursday. They set a “buy” rating for the company. Evercore ISI increased their price objective on Nordstrom from $22.00 to $24.00 and gave the company an “in-line” rating in a report on Monday, January 13th. Citigroup boosted 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. Bank of America increased their price target on Nordstrom from $20.00 to $22.00 and gave the stock an “underperform” rating in a research note on Wednesday, November 27th. Finally, Argus cut Nordstrom from a “buy” rating to a “sell” rating in a research note on Monday, December 30th. Three research analysts have rated the stock with a sell rating, eleven have given a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $22.17.

Nordstrom Price Performance

Shares of NYSE:JWN opened at $24.34 on Thursday. Nordstrom, Inc. has a 12 month low of $16.78 and a 12 month high of $24.99. 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 stock has a market cap of $4.02 billion, a P/E ratio of 15.50 and a beta of 2.51. The company has a 50 day moving average of $24.22 and a 200 day moving average of $23.22.

Nordstrom (NYSE:JWN) last released its quarterly earnings results on Tuesday, November 26th. The specialty retailer reported $0.33 earnings per share for the quarter, topping the consensus estimate of $0.22 by $0.11. The firm had revenue of $3.35 billion for the quarter, compared to analysts’ expectations of $3.34 billion. Nordstrom had a negative net margin of 1.57% and a negative return on equity of 18.04%. The business’s quarterly revenue was up 4.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.25 earnings per share. As a group, sell-side analysts forecast that Nordstrom, Inc. will post 1.97 EPS for the current fiscal year.

Nordstrom Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 26th. Shareholders of record on Tuesday, March 11th will be paid a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 3.12%. Nordstrom’s dividend payout ratio is currently 48.41%.

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.