Pentwater Capital Management LP Acquires Shares of 2,550,000 Nordstrom, Inc. (NYSE:JWN)

Pentwater Capital Management LP bought a new position in shares of Nordstrom, Inc. (NYSE:JWN - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 2,550,000 shares of the specialty retailer's stock, valued at approximately $61,582,000. Nordstrom makes up 0.7% of Pentwater Capital Management LP's holdings, making the stock its 13th biggest holding. Pentwater Capital Management LP owned 1.54% of Nordstrom at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in JWN. Spire Wealth Management raised its position in Nordstrom by 90.9% in the fourth quarter. Spire Wealth Management now owns 2,100 shares of the specialty retailer's stock worth $51,000 after purchasing an additional 1,000 shares in the last quarter. Wolverine Asset Management LLC acquired a new position in shares of Nordstrom in the 4th quarter worth approximately $63,000. Vestcor Inc acquired a new position in shares of Nordstrom in the 4th quarter worth approximately $63,000. Atlas Capital Advisors Inc. boosted its stake in Nordstrom by 45.5% in the 4th quarter. Atlas Capital Advisors Inc. now owns 4,446 shares of the specialty retailer's stock valued at $107,000 after buying an additional 1,391 shares in the last quarter. Finally, KBC Group NV raised its stake in Nordstrom by 36.5% during the fourth 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 in the last quarter. 88.73% of the stock is currently owned by institutional investors.

Nordstrom Trading Up 0.7 %

Shares of Nordstrom stock traded up $0.16 during trading on Friday, hitting $24.22. 3,698,851 shares of the company were exchanged, compared to its average volume of 2,597,607. The company has a debt-to-equity ratio of 2.65, a current ratio of 1.14 and a quick ratio of 0.35. The firm has a market capitalization of $4.05 billion, a P/E ratio of 15.43 and a beta of 2.31. The firm's fifty day moving average price is $24.11 and its 200 day moving average price is $23.83. Nordstrom, Inc. has a 1-year low of $19.45 and a 1-year high of $24.99.

Nordstrom (NYSE:JWN - Get Free Report) last issued its earnings results on Tuesday, March 4th. The specialty retailer reported $1.10 EPS for the quarter, beating the consensus estimate of $0.90 by $0.20. The firm had revenue of $4.32 billion during 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, sell-side analysts expect that Nordstrom, Inc. will post 1.97 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the stock. Citigroup reaffirmed a "sell" rating and issued a $22.00 target price (down previously from $25.00) on shares of Nordstrom in a report on Friday, April 4th. StockNews.com assumed coverage on Nordstrom in a research report on Friday. They issued a "buy" rating for the company. Telsey Advisory Group reaffirmed a "market perform" rating and issued a $24.00 price target on shares of Nordstrom in a report on Wednesday, March 5th. Barclays increased 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. Finally, Evercore ISI boosted their target price on shares of Nordstrom from $22.00 to $24.00 and gave the stock an "in-line" rating in a research note on Monday, January 13th. 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. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $22.80.

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.