First Trust Advisors LP Buys 187,874 Shares of Nordstrom, Inc. (NYSE:JWN)

First Trust Advisors LP grew its stake in Nordstrom, Inc. (NYSE:JWN - Free Report) by 31.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 783,008 shares of the specialty retailer's stock after acquiring an additional 187,874 shares during the quarter. First Trust Advisors LP owned 0.47% of Nordstrom worth $18,910,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of JWN. Spire Wealth Management grew its position in Nordstrom by 90.9% during the 4th quarter. Spire Wealth Management now owns 2,100 shares of the specialty retailer's stock valued at $51,000 after purchasing an additional 1,000 shares during the last quarter. Wolverine Asset Management LLC purchased a new stake in shares of Nordstrom during the fourth quarter valued at approximately $63,000. Vestcor Inc purchased a new stake in shares of Nordstrom during the fourth quarter valued at approximately $63,000. Atlas Capital Advisors Inc. increased its position in shares of Nordstrom by 45.5% during the fourth quarter. Atlas Capital Advisors Inc. now owns 4,446 shares of the specialty retailer's stock valued at $107,000 after acquiring an additional 1,391 shares in the last quarter. Finally, KBC Group NV raised its holdings in Nordstrom by 36.5% in the 4th quarter. KBC Group NV now owns 4,816 shares of the specialty retailer's stock worth $116,000 after acquiring an additional 1,287 shares during the last quarter. 88.73% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have commented on JWN. UBS Group raised Nordstrom from a "sell" rating to a "neutral" rating and lifted their target price for the stock from $14.50 to $24.00 in a report on Friday, January 10th. Citigroup reissued a "sell" rating and issued a $22.00 target price (down previously from $25.00) on shares of Nordstrom in a research report on Friday, April 4th. StockNews.com began coverage on shares of Nordstrom in a report on Friday. They set a "buy" rating on the stock. Telsey Advisory Group reissued a "market perform" rating and set a $24.00 price objective on shares of Nordstrom in a report on Wednesday, March 5th. Finally, Evercore ISI raised their target price on shares of Nordstrom from $22.00 to $24.00 and gave the stock an "in-line" rating in a report on Monday, January 13th. Four equities research analysts have rated the stock with a sell rating, eight have given a hold rating and one has given a buy rating to the company. According to MarketBeat.com, Nordstrom has a consensus rating of "Hold" and a consensus target price of $22.80.

Nordstrom Stock Performance

Shares of NYSE JWN traded up $0.13 during trading on Friday, hitting $24.19. The company had a trading volume of 901,736 shares, compared to its average volume of 2,946,242. The stock has a 50 day simple moving average of $24.12 and a 200 day simple moving average of $23.83. The firm has a market capitalization of $4.04 billion, a P/E ratio of 15.40 and a beta of 2.31. 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 12 month low of $19.45 and a 12 month high of $24.99.

Nordstrom (NYSE:JWN - Get Free Report) last issued its quarterly earnings results on Tuesday, March 4th. The specialty retailer reported $1.10 earnings per share for the quarter, beating the consensus estimate of $0.90 by $0.20. The business had revenue of $4.32 billion for 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%. As a group, analysts anticipate that Nordstrom, Inc. will post 1.97 earnings per share for the current 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.