Michels Family Financial LLC Makes New Investment in Nordstrom, Inc. (NYSE:JWN)

Michels Family Financial LLC purchased a new stake in Nordstrom, Inc. (NYSE:JWN - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 29,985 shares of the specialty retailer's stock, valued at approximately $724,000.

Several other large investors also recently modified their holdings of the company. Crossmark Global Holdings Inc. boosted its position in Nordstrom by 171.3% during the fourth quarter. Crossmark Global Holdings Inc. now owns 100,733 shares of the specialty retailer's stock valued at $2,432,000 after acquiring an additional 63,600 shares during the last quarter. Janney Montgomery Scott LLC lifted its stake in shares of Nordstrom by 1.2% in the 4th quarter. Janney Montgomery Scott LLC now owns 55,956 shares of the specialty retailer's stock valued at $1,351,000 after purchasing an additional 640 shares during the period. Avior Wealth Management LLC bought a new stake in shares of Nordstrom during the 4th quarter valued at about $415,000. Cyndeo Wealth Partners LLC grew its stake in Nordstrom by 4.7% during the fourth quarter. Cyndeo Wealth Partners LLC now owns 290,814 shares of the specialty retailer's stock worth $7,023,000 after purchasing an additional 13,021 shares during the period. Finally, Blue Trust Inc. grew its stake in Nordstrom by 51.9% during the fourth quarter. Blue Trust Inc. now owns 5,832 shares of the specialty retailer's stock worth $131,000 after purchasing an additional 1,993 shares during the period. 88.73% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have issued reports on JWN. Wall Street Zen began coverage on Nordstrom in a report on Sunday, May 18th. They set a "buy" rating on the stock. Citigroup reiterated a "sell" rating and set a $22.00 price target (down previously from $25.00) on shares of Nordstrom in a report on Friday, April 4th. Finally, Telsey Advisory Group restated a "market perform" rating and set a $24.00 price objective on shares of Nordstrom in a research note on Wednesday, March 5th. Four research analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $22.80.

Nordstrom Stock Performance

Shares of Nordstrom stock traded up $0.04 during trading hours on Tuesday, hitting $24.68. 50,669,665 shares of the company's stock traded hands, compared to its average volume of 3,008,086. The stock has a market capitalization of $4.13 billion, a price-to-earnings ratio of 15.72 and a beta of 2.36. Nordstrom, Inc. has a 12-month low of $19.45 and a 12-month high of $24.99. The company has a debt-to-equity ratio of 2.65, a current ratio of 1.14 and a quick ratio of 0.35. The company has a fifty day simple moving average of $24.18 and a 200-day simple moving average of $23.99.

Nordstrom (NYSE:JWN - Get Free Report) last posted 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. The business had revenue of $4.32 billion during the quarter, compared to the consensus estimate of $4.32 billion. Nordstrom had a negative net margin of 1.57% and a negative return on equity of 18.04%. Equities research analysts anticipate that Nordstrom, Inc. will post 1.97 EPS 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.