AQR Capital Management LLC Raises Stake in Nordstrom, Inc. (NYSE:JWN)

AQR Capital Management LLC grew its holdings in Nordstrom, Inc. (NYSE:JWN - Free Report) by 34.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 736,298 shares of the specialty retailer's stock after purchasing an additional 187,617 shares during the period. AQR Capital Management LLC owned approximately 0.45% of Nordstrom worth $17,782,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also modified their holdings of the company. Madison Investment Advisors LLC acquired a new position in Nordstrom in the fourth quarter valued at about $3,767,000. JPMorgan Chase & Co. lifted its holdings in shares of Nordstrom by 29.7% in the 3rd 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 last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Nordstrom by 20.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,712,452 shares of the specialty retailer's stock worth $41,356,000 after purchasing an additional 289,596 shares during the period. Avior Wealth Management LLC acquired a new stake in Nordstrom in the 4th quarter valued at approximately $415,000. Finally, Norges Bank purchased a new stake in Nordstrom in the fourth quarter valued at approximately $33,480,000. 88.73% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. StockNews.com assumed coverage on Nordstrom in a research note on Saturday. They issued a "buy" rating for the company. Citigroup reissued a "sell" rating and set a $22.00 price target (down previously from $25.00) on shares of Nordstrom in a research report on Friday, April 4th. UBS Group upgraded shares of Nordstrom from a "sell" rating to a "neutral" rating and lifted their price objective for the company from $14.50 to $24.00 in a report on Friday, January 10th. Telsey Advisory Group reiterated a "market perform" rating and set a $24.00 target price on shares of Nordstrom in a report on Wednesday, March 5th. Finally, Barclays boosted their price target on shares of Nordstrom from $23.00 to $24.00 and gave the stock an "equal weight" rating in a research note on Thursday, January 16th. Four research 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. Based on data from MarketBeat, the company has an average rating of "Hold" and an average target price of $22.80.

Nordstrom Stock Up 0.1 %

JWN traded up $0.02 on Friday, reaching $24.40. The company's stock had a trading volume of 1,757,373 shares, compared to its average volume of 2,612,919. The company has a quick ratio of 0.35, a current ratio of 1.14 and a debt-to-equity ratio of 2.65. Nordstrom, Inc. has a fifty-two week low of $19.45 and a fifty-two week high of $24.99. The stock has a 50 day moving average of $24.11 and a two-hundred day moving average of $23.85. The company has a market capitalization of $4.08 billion, a price-to-earnings ratio of 15.54 and a beta of 2.36.

Nordstrom (NYSE:JWN - Get Free Report) last posted its 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. 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 for the quarter, compared to the consensus estimate of $4.32 billion. As a group, analysts forecast that Nordstrom, Inc. will post 1.97 EPS for the current fiscal year.

Nordstrom 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.