Franklin Resources Inc. Increases Stock Position in Nordstrom, Inc. (NYSE:JWN)

Franklin Resources Inc. raised its holdings in shares of Nordstrom, Inc. (NYSE:JWN) by 22.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 61,777 shares of the specialty retailer’s stock after purchasing an additional 11,483 shares during the period. Franklin Resources Inc.’s holdings in Nordstrom were worth $1,492,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. American Century Companies Inc. boosted its position in shares of Nordstrom by 18.3% during the fourth quarter. American Century Companies Inc. now owns 2,912,254 shares of the specialty retailer’s stock valued at $70,331,000 after buying an additional 450,539 shares during the last quarter. Hennessy Advisors Inc. purchased a new stake in shares of Nordstrom during the 4th quarter valued at about $56,026,000. Charles Schwab Investment Management Inc. grew its stake in shares of Nordstrom by 20.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,712,452 shares of the specialty retailer’s stock worth $41,356,000 after acquiring an additional 289,596 shares during the period. Geode Capital Management LLC raised its holdings in shares of 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 purchasing an additional 5,407 shares during the last quarter. Finally, Norges Bank bought a new position in Nordstrom during the fourth quarter valued at approximately $33,480,000. Institutional investors own 88.73% of the company’s stock.

Nordstrom Stock Up 1.2 %

Shares of JWN stock opened at $24.06 on Tuesday. The company has a debt-to-equity ratio of 2.65, a current ratio of 1.14 and a quick ratio of 0.35. Nordstrom, Inc. has a one year low of $17.21 and a one year high of $24.99. The company’s fifty day moving average price is $24.19 and its 200-day moving average price is $23.68. The company has a market capitalization of $3.97 billion, a price-to-earnings ratio of 15.32 and a beta of 2.31.

Nordstrom (NYSE:JWN) last posted its quarterly earnings results on Tuesday, March 4th. The specialty retailer reported $1.10 EPS for the quarter, beating analysts’ consensus estimates of $0.90 by $0.20. The business had revenue of $4.32 billion for the quarter, compared to analysts’ expectations of $4.32 billion. Nordstrom had a negative return on equity of 18.04% and a negative net margin of 1.57%. Sell-side analysts expect that Nordstrom, Inc. will post 1.97 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on JWN. Evercore ISI boosted their target price on shares of Nordstrom from $22.00 to $24.00 and gave the company an “in-line” rating in a research note on Monday, January 13th. Telsey Advisory Group reissued a “market perform” rating and issued a $24.00 target price on shares of Nordstrom in a report on Wednesday, March 5th. StockNews.com assumed coverage on Nordstrom in a research note on Tuesday, April 8th. They set a “buy” rating for the company. Argus cut shares of Nordstrom from a “buy” rating to a “sell” rating in a research note on Monday, December 30th. Finally, UBS Group raised shares of Nordstrom from a “sell” rating to a “neutral” rating and raised their price objective for the stock from $14.50 to $24.00 in a report on Friday, January 10th. Four analysts have rated the stock with a sell rating, eight have given a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $22.80.

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.