State of Alaska Department of Revenue Purchases 67,810 Shares of Nordstrom, Inc. (NYSE:JWN)

State of Alaska Department of Revenue raised its position in Nordstrom, Inc. (NYSE:JWN) by 603.5% in the 4th quarter, Holdings Channel.com reports. The firm owned 79,046 shares of the specialty retailer’s stock after buying an additional 67,810 shares during the period. State of Alaska Department of Revenue’s holdings in Nordstrom were worth $1,908,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Hennessy Advisors Inc. acquired a new stake in Nordstrom during the 4th quarter worth approximately $56,026,000. Verition Fund Management LLC increased its holdings in Nordstrom by 147.4% in the third quarter. Verition Fund Management LLC now owns 1,218,365 shares of the specialty retailer’s stock valued at $27,401,000 after purchasing an additional 725,803 shares during the period. Cyndeo Wealth Partners LLC bought a new position in Nordstrom during the 3rd quarter worth $6,248,000. Hotchkis & Wiley Capital Management LLC acquired a new position in Nordstrom during the 3rd quarter worth about $6,171,000. Finally, Charles Schwab Investment Management Inc. grew its position in shares of Nordstrom by 17.1% in the 3rd 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 last quarter. 88.73% of the stock is owned by institutional investors and hedge funds.

Nordstrom Price Performance

JWN opened at $24.33 on Wednesday. The firm’s fifty day moving average price is $23.94 and its two-hundred day moving average price is $23.03. The company has a market capitalization of $4.01 billion, a price-to-earnings ratio of 15.49 and a beta of 2.51. 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 1 year low of $16.78 and a 1 year high of $24.99.

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

Nordstrom Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 18th. Shareholders of record on Tuesday, December 3rd were paid a $0.19 dividend. The ex-dividend date was Tuesday, December 3rd. This represents a $0.76 dividend on an annualized basis and a yield of 3.12%. Nordstrom’s dividend payout ratio (DPR) is presently 48.41%.

Analyst Upgrades and Downgrades

JWN has been the topic of a number of recent analyst reports. Barclays lifted their price objective on Nordstrom from $23.00 to $24.00 and gave the stock an “equal weight” rating in a research note on Thursday, January 16th. StockNews.com started coverage on shares of Nordstrom in a research report on Tuesday. They issued a “buy” rating on the stock. Telsey Advisory Group reiterated a “market perform” rating and set a $24.00 price objective on shares of Nordstrom in a research report on Monday, January 13th. UBS Group raised Nordstrom from a “sell” rating to a “neutral” rating and boosted their price objective for the company from $14.50 to $24.00 in a research note on Friday, January 10th. Finally, Citigroup lifted their target price on Nordstrom from $22.00 to $23.00 and gave the stock a “neutral” rating in a report on Tuesday, November 19th. Three 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.com, the company currently has a consensus rating of “Hold” and a consensus target price of $22.17.

About Nordstrom

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.