New York State Teachers Retirement System Boosts Stake in Nordstrom, Inc. (NYSE:JWN)

New York State Teachers Retirement System lifted its position in Nordstrom, Inc. (NYSE:JWN) by 7.0% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 119,575 shares of the specialty retailer’s stock after buying an additional 7,838 shares during the quarter. New York State Teachers Retirement System’s holdings in Nordstrom were worth $2,888,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Venturi Wealth Management LLC raised its holdings in shares of Nordstrom by 355.9% in the 3rd quarter. Venturi Wealth Management LLC now owns 1,272 shares of the specialty retailer’s stock valued at $29,000 after buying an additional 993 shares during the period. Spire Wealth Management raised its holdings in shares of Nordstrom by 90.9% in the 4th quarter. Spire Wealth Management now owns 2,100 shares of the specialty retailer’s stock valued at $51,000 after buying an additional 1,000 shares during the period. CWM LLC raised its holdings in shares of Nordstrom by 28.7% in the 3rd quarter. CWM LLC now owns 3,628 shares of the specialty retailer’s stock valued at $82,000 after buying an additional 810 shares during the period. Blue Trust Inc. raised its holdings in shares of Nordstrom by 57.7% in the 3rd quarter. Blue Trust Inc. now owns 3,839 shares of the specialty retailer’s stock valued at $81,000 after buying an additional 1,404 shares during the period. Finally, KBC Group NV raised its holdings in shares of Nordstrom by 36.5% in the 4th quarter. KBC Group NV now owns 4,816 shares of the specialty retailer’s stock valued at $116,000 after buying an additional 1,287 shares during the period. Hedge funds and other institutional investors own 88.73% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. Citigroup boosted their price objective on Nordstrom from $22.00 to $23.00 and gave the company a “neutral” rating in a report on Tuesday, November 19th. Argus cut Nordstrom from a “buy” rating to a “sell” rating in a research note on Monday, December 30th. Evercore ISI boosted their target price on Nordstrom from $22.00 to $24.00 and gave the stock an “in-line” rating in a research note on Monday, January 13th. Telsey Advisory Group reissued a “market perform” rating and set a $24.00 target price on shares of Nordstrom in a research note on Monday, January 13th. Finally, Barclays boosted their target price on Nordstrom from $23.00 to $24.00 and gave the stock an “equal weight” rating in a research note on Thursday, January 16th. Three equities 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 MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $22.17.

Nordstrom Trading Down 0.1 %

NYSE:JWN opened at $24.33 on Friday. The stock has a 50-day simple moving average of $24.13 and a 200-day simple moving average of $23.14. The stock has a market cap of $4.01 billion, a P/E ratio of 15.49 and a beta of 2.51. Nordstrom, Inc. has a 1 year low of $16.78 and a 1 year high of $24.99. 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 (NYSE:JWN) last announced its earnings results on Tuesday, November 26th. The specialty retailer reported $0.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.22 by $0.11. The firm had revenue of $3.35 billion during the quarter, compared to analysts’ expectations of $3.34 billion. Nordstrom had a negative return on equity of 18.04% and a negative net margin of 1.57%. The business’s revenue was up 4.6% on a year-over-year basis. During the same period in the prior year, the firm earned $0.25 EPS. As a group, analysts anticipate that Nordstrom, Inc. will post 1.97 earnings per share for the current fiscal year.

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.