Los Angeles Capital Management LLC Makes New $1.21 Million Investment in Nordstrom, Inc. (NYSE:JWN)

Los Angeles Capital Management LLC purchased a new position in shares of Nordstrom, Inc. (NYSE:JWN - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 65,646 shares of the specialty retailer's stock, valued at approximately $1,211,000.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Victory Capital Management Inc. boosted its holdings in shares of Nordstrom by 42.2% in the fourth quarter. Victory Capital Management Inc. now owns 3,288,612 shares of the specialty retailer's stock valued at $60,675,000 after acquiring an additional 975,918 shares in the last quarter. Hexagon Capital Partners LLC boosted its stake in Nordstrom by 77.6% during the 4th quarter. Hexagon Capital Partners LLC now owns 1,989 shares of the specialty retailer's stock valued at $37,000 after purchasing an additional 869 shares in the last quarter. Headlands Technologies LLC acquired a new position in shares of Nordstrom during the 4th quarter valued at $190,000. Truist Financial Corp raised its stake in shares of Nordstrom by 14.8% in the 4th quarter. Truist Financial Corp now owns 55,614 shares of the specialty retailer's stock worth $1,026,000 after buying an additional 7,161 shares in the last quarter. Finally, Alaska Permanent Fund Corp lifted its holdings in shares of Nordstrom by 3.8% in the fourth quarter. Alaska Permanent Fund Corp now owns 122,593 shares of the specialty retailer's stock valued at $2,262,000 after buying an additional 4,493 shares during the period. Institutional investors own 88.73% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. Citigroup dropped their price target on shares of Nordstrom from $21.00 to $20.00 and set a "neutral" rating on the stock in a research report on Wednesday, March 6th. Telsey Advisory Group reiterated a "market perform" rating and issued a $19.00 target price on shares of Nordstrom in a report on Friday, April 19th. StockNews.com upgraded shares of Nordstrom from a "hold" rating to a "buy" rating in a report on Thursday, March 14th. Bank of America upped their price target on Nordstrom from $13.00 to $15.00 and gave the company an "underperform" rating in a report on Wednesday, March 6th. Finally, JPMorgan Chase & Co. raised their price objective on Nordstrom from $14.00 to $15.00 and gave the stock an "underweight" rating in a research note on Wednesday, March 6th. Five research analysts have rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the company's stock. According to data from MarketBeat.com, Nordstrom presently has an average rating of "Hold" and a consensus price target of $16.54.

Nordstrom Stock Up 1.6 %

Nordstrom stock traded up $0.31 during mid-day trading on Thursday, hitting $20.29. The company's stock had a trading volume of 2,061,044 shares, compared to its average volume of 4,198,476. Nordstrom, Inc. has a 52-week low of $12.88 and a 52-week high of $23.53. The company has a market cap of $3.31 billion, a PE ratio of 25.36, a price-to-earnings-growth ratio of 2.28 and a beta of 2.59. The company has a debt-to-equity ratio of 3.08, a current ratio of 1.02 and a quick ratio of 0.41. The firm's 50 day moving average is $19.03 and its 200 day moving average is $17.87.

Nordstrom (NYSE:JWN - Get Free Report) last issued its earnings results on Tuesday, March 5th. The specialty retailer reported $0.96 earnings per share for the quarter, beating analysts' consensus estimates of $0.90 by $0.06. Nordstrom had a return on equity of 49.30% and a net margin of 0.91%. The company had revenue of $4.29 billion for the quarter, compared to the consensus estimate of $4.38 billion. During the same quarter in the prior year, the company earned $0.74 EPS. The firm's quarterly revenue was up 2.2% on a year-over-year basis. On average, analysts anticipate that Nordstrom, Inc. will post 1.81 earnings per share for the current year.

Nordstrom Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 27th. Shareholders of record on Tuesday, March 12th were paid a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 3.75%. The ex-dividend date of this dividend was Monday, March 11th. Nordstrom's dividend payout ratio (DPR) is currently 95.00%.

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.