Nexpoint Asset Management L.P. Buys New Holdings in Nordstrom, Inc. (NYSE:JWN)

Nexpoint Asset Management L.P. purchased a new stake in Nordstrom, Inc. (NYSE:JWN - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 385,580 shares of the specialty retailer's stock, valued at approximately $9,312,000. Nordstrom makes up approximately 1.0% of Nexpoint Asset Management L.P.'s portfolio, making the stock its 26th largest holding. Nexpoint Asset Management L.P. owned approximately 0.23% of Nordstrom as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Cooper Creek Partners Management LLC raised 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 purchasing an additional 372,024 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of Nordstrom by 4.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 3,265,322 shares of the specialty retailer's stock valued at $78,858,000 after buying an additional 138,900 shares in the last quarter. American Century Companies Inc. lifted its holdings in shares of Nordstrom by 18.3% during the 4th quarter. American Century Companies Inc. now owns 2,912,254 shares of the specialty retailer's stock worth $70,331,000 after acquiring an additional 450,539 shares during the period. Pentwater Capital Management LP acquired a new stake in shares of Nordstrom during the 4th quarter worth approximately $61,582,000. Finally, Hennessy Advisors Inc. bought a new position in Nordstrom in the fourth quarter valued at approximately $56,026,000. 88.73% of the stock is owned by institutional investors.

Nordstrom Trading Down 0.6 %

Nordstrom stock traded down $0.16 during trading hours on Monday, reaching $24.11. 3,056,234 shares of the company's stock were exchanged, compared to its average volume of 2,600,226. The firm's 50 day simple moving average is $24.11 and its 200 day simple moving average is $23.83. Nordstrom, Inc. has a twelve month low of $19.45 and a twelve month high of $24.99. The company has a quick ratio of 0.35, a current ratio of 1.14 and a debt-to-equity ratio of 2.65. The firm has a market capitalization of $4.03 billion, a PE ratio of 15.35 and a beta of 2.31.

Nordstrom (NYSE:JWN - Get Free Report) last issued its earnings results on Tuesday, March 4th. The specialty retailer reported $1.10 earnings per share 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 return on equity of 18.04% and a negative net margin of 1.57%. Research analysts predict that Nordstrom, Inc. will post 1.97 earnings per share for the current year.

Analyst Ratings Changes

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

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.