BNP Paribas Financial Markets Boosts Position in Nordstrom, Inc. (NYSE:JWN)

BNP Paribas Financial Markets grew its position in shares of Nordstrom, Inc. (NYSE:JWN - Free Report) by 42.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 949,603 shares of the specialty retailer's stock after buying an additional 281,130 shares during the period. BNP Paribas Financial Markets owned 0.58% of Nordstrom worth $17,520,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in JWN. Premier Path Wealth Partners LLC purchased a new stake in Nordstrom during the 4th quarter worth about $1,081,000. Wellington Management Group LLP raised its holdings in shares of Nordstrom by 52.9% in the 3rd quarter. Wellington Management Group LLP now owns 363,690 shares of the specialty retailer's stock valued at $5,434,000 after acquiring an additional 125,877 shares in the last quarter. Victory Capital Management Inc. raised its holdings in shares of Nordstrom by 48.7% in the 3rd quarter. Victory Capital Management Inc. now owns 2,312,694 shares of the specialty retailer's stock valued at $34,552,000 after acquiring an additional 757,000 shares in the last quarter. EP Wealth Advisors LLC raised its holdings in shares of Nordstrom by 120.3% in the 3rd quarter. EP Wealth Advisors LLC now owns 12,027 shares of the specialty retailer's stock valued at $180,000 after acquiring an additional 6,567 shares in the last quarter. Finally, CenterBook Partners LP purchased a new stake in shares of Nordstrom in the 3rd quarter valued at about $736,000. Hedge funds and other institutional investors own 88.73% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on JWN. JPMorgan Chase & Co. raised their price target on Nordstrom from $14.00 to $15.00 and gave the company an "underweight" rating in a report on Wednesday, March 6th. Piper Sandler raised their price target on Nordstrom from $17.00 to $20.00 and gave the company a "neutral" rating in a report on Wednesday, March 6th. StockNews.com upgraded Nordstrom from a "hold" rating to a "buy" rating in a research report on Thursday, March 14th. Citigroup reduced their price objective on Nordstrom from $21.00 to $20.00 and set a "neutral" rating on the stock in a research report on Wednesday, March 6th. Finally, Jefferies Financial Group reiterated a "hold" rating and set a $17.00 price objective (down from $18.00) on shares of Nordstrom in a research report on Thursday, March 7th. Five analysts have rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $16.54.

Nordstrom Trading Down 1.3 %

Shares of JWN stock traded down $0.28 during trading hours on Wednesday, reaching $21.51. The company's stock had a trading volume of 2,516,932 shares, compared to its average volume of 4,153,500. The stock has a market capitalization of $3.51 billion, a P/E ratio of 26.89, a P/E/G ratio of 2.41 and a beta of 2.59. Nordstrom, Inc. has a one year low of $12.88 and a one year high of $23.53. The firm's fifty day simple moving average is $19.05 and its 200 day simple moving average is $18.08. The company has a current ratio of 1.02, a quick ratio of 0.41 and a debt-to-equity ratio of 3.08.

Nordstrom (NYSE:JWN - Get Free Report) last issued its quarterly earnings data on Tuesday, March 5th. The specialty retailer reported $0.96 earnings per share for the quarter, topping analysts' consensus estimates of $0.90 by $0.06. The firm had revenue of $4.29 billion for the quarter, compared to analyst estimates of $4.38 billion. Nordstrom had a return on equity of 49.30% and a net margin of 0.91%. The business's quarterly revenue was up 2.2% compared to the same quarter last year. During the same period last year, the company earned $0.74 EPS. Equities research analysts expect that Nordstrom, Inc. will post 1.79 EPS for the current year.

Nordstrom Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 27th. Stockholders of record on Tuesday, March 12th were paid a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 3.53%. The ex-dividend date of this dividend was Monday, March 11th. Nordstrom's payout ratio is presently 95.00%.

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.