Ameriprise Financial Inc. Buys 84,585 Shares of Nordstrom, Inc. (NYSE:JWN)

Ameriprise Financial Inc. grew its stake in shares of Nordstrom, Inc. (NYSE:JWN - Free Report) by 34.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 330,389 shares of the specialty retailer's stock after buying an additional 84,585 shares during the period. Ameriprise Financial Inc. owned 0.20% of Nordstrom worth $7,979,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Madison Investment Advisors LLC purchased a new position in shares of Nordstrom during the 4th quarter valued at about $3,767,000. Charles Schwab Investment Management Inc. lifted 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 valued at $41,356,000 after buying an additional 289,596 shares in the last quarter. Avior Wealth Management LLC purchased a new position in shares of Nordstrom during the 4th quarter valued at about $415,000. Norges Bank purchased a new position in shares of Nordstrom during the 4th quarter valued at about $33,480,000. Finally, Sei Investments Co. lifted its position in shares of Nordstrom by 91.5% during the 4th quarter. Sei Investments Co. now owns 52,202 shares of the specialty retailer's stock valued at $1,261,000 after buying an additional 24,944 shares in the last quarter. 88.73% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. Citigroup reaffirmed a "sell" rating and set a $22.00 price objective (down from $25.00) on shares of Nordstrom in a research report on Friday, April 4th. Wall Street Zen assumed coverage on Nordstrom in a report on Sunday, May 18th. They issued a "buy" rating on the stock. Finally, Telsey Advisory Group reissued a "market perform" rating and issued a $24.00 price target on shares of Nordstrom in a report on Wednesday, March 5th. Four investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has given a buy rating to the company's stock. According to MarketBeat, Nordstrom has an average rating of "Hold" and a consensus target price of $22.80.

Nordstrom Price Performance

NYSE:JWN traded up $0.04 during trading hours on Tuesday, reaching $24.68. The stock had a trading volume of 50,669,665 shares, compared to its average volume of 3,008,086. 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, Inc. has a 52 week low of $19.45 and a 52 week high of $24.99. The company has a 50 day moving average price of $24.19 and a two-hundred day moving average price of $23.99. The stock has a market capitalization of $4.13 billion, a PE ratio of 15.72 and a beta of 2.36.

Nordstrom (NYSE:JWN - Get Free Report) last released its quarterly earnings data on Tuesday, March 4th. The specialty retailer reported $1.10 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.90 by $0.20. Nordstrom had a negative return on equity of 18.04% and a negative net margin of 1.57%. The business had revenue of $4.32 billion for the quarter, compared to the consensus estimate of $4.32 billion. As a group, sell-side analysts anticipate that Nordstrom, Inc. will post 1.97 earnings per share for the current fiscal year.

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.