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

First Trust Advisors LP raised its holdings in Nordstrom, Inc. (NYSE:JWN - Free Report) by 31.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund 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 about 0.47% of Nordstrom worth $18,910,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Cooper Creek Partners Management LLC boosted its stake in Nordstrom by 11.0% in the fourth quarter. Cooper Creek Partners Management LLC now owns 3,757,847 shares of the specialty retailer's stock valued at $90,752,000 after acquiring an additional 372,024 shares during the last quarter. American Century Companies Inc. boosted its stake in Nordstrom by 18.3% in the fourth quarter. American Century Companies Inc. now owns 2,912,254 shares of the specialty retailer's stock valued at $70,331,000 after acquiring an additional 450,539 shares during the last quarter. Hennessy Advisors Inc. bought a new position in Nordstrom in the fourth quarter valued at approximately $56,026,000. Charles Schwab Investment Management Inc. boosted its stake in Nordstrom by 20.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,712,452 shares of the specialty retailer's stock valued at $41,356,000 after acquiring an additional 289,596 shares during the last quarter. Finally, Marshall Wace LLP raised its holdings in Nordstrom by 1.0% in the fourth quarter. Marshall Wace LLP now owns 1,682,882 shares of the specialty retailer's stock worth $40,642,000 after purchasing an additional 16,003 shares during the period. 88.73% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

JWN has been the topic of several analyst reports. UBS Group upgraded shares of Nordstrom from a "sell" rating to a "neutral" rating and increased their target price for the stock from $14.50 to $24.00 in a report on Friday, January 10th. Telsey Advisory Group reiterated a "market perform" rating and issued a $24.00 target price on shares of Nordstrom in a report on Wednesday, March 5th. Barclays raised their price objective on shares of Nordstrom from $23.00 to $24.00 and gave the stock an "equal weight" rating in a report on Thursday, January 16th. Citigroup restated a "sell" rating and set a $22.00 price objective (down from $25.00) on shares of Nordstrom in a report on Friday, April 4th. Finally, StockNews.com began coverage on shares of Nordstrom in a report on Thursday, April 24th. They set a "buy" rating on the stock. Four equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $22.80.

Nordstrom Stock Performance

Shares of JWN traded up $0.05 during midday trading on Wednesday, reaching $24.13. The stock had a trading volume of 2,738,276 shares, compared to its average volume of 2,601,351. The firm has a 50 day simple moving average of $24.13 and a 200-day simple moving average of $23.82. Nordstrom, Inc. has a one year low of $18.57 and a one year high of $24.99. The firm has a market cap of $4.04 billion, a PE ratio of 15.37 and a beta of 2.31. The company has a current ratio of 1.14, a quick ratio of 0.35 and a debt-to-equity ratio of 2.65.

Nordstrom (NYSE:JWN - Get Free Report) last announced its quarterly earnings data 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 company had revenue of $4.32 billion during 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 EPS for the current 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.