Raymond James Financial Inc. Acquires New Position in Nordstrom, Inc. (NYSE:JWN)

Raymond James Financial Inc. bought a new stake in shares of Nordstrom, Inc. (NYSE:JWN - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 97,771 shares of the specialty retailer's stock, valued at approximately $2,361,000. Raymond James Financial Inc. owned 0.06% of Nordstrom as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Retirement Systems of Alabama raised its stake in shares of Nordstrom by 0.4% in the fourth quarter. Retirement Systems of Alabama now owns 117,801 shares of the specialty retailer's stock worth $2,845,000 after purchasing an additional 512 shares during the last quarter. Freestone Capital Holdings LLC grew its stake in shares of Nordstrom by 3.0% in the fourth quarter. Freestone Capital Holdings LLC now owns 19,252 shares of the specialty retailer's stock worth $465,000 after acquiring an additional 558 shares during the last quarter. Amalgamated Bank boosted its stake in shares of Nordstrom by 1.4% in the 4th quarter. Amalgamated Bank now owns 45,083 shares of the specialty retailer's stock worth $1,089,000 after buying an additional 617 shares during the last quarter. Janney Montgomery Scott LLC raised its stake in Nordstrom by 1.2% during the 4th quarter. Janney Montgomery Scott LLC now owns 55,956 shares of the specialty retailer's stock worth $1,351,000 after acquiring an additional 640 shares during the period. Finally, Wedmont Private Capital increased its stake in Nordstrom by 6.7% during the fourth quarter. Wedmont Private Capital now owns 11,589 shares of the specialty retailer's stock worth $278,000 after acquiring an additional 723 shares during the last quarter. Institutional investors own 88.73% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. StockNews.com assumed coverage on Nordstrom in a research report on Friday. They issued a "buy" rating on the stock. Citigroup reiterated a "sell" rating and issued a $22.00 price objective (down from $25.00) on shares of Nordstrom in a research report on Friday, April 4th. Telsey Advisory Group reissued a "market perform" rating and set a $24.00 price target on shares of Nordstrom in a research report on Wednesday, March 5th. UBS Group upgraded Nordstrom from a "sell" rating to a "neutral" rating and raised their target price for the company from $14.50 to $24.00 in a research report on Friday, January 10th. Finally, Barclays increased their target price on shares of Nordstrom from $23.00 to $24.00 and gave the stock an "equal weight" rating in a research report on Thursday, January 16th. Four investment analysts have rated the stock with a sell rating, eight have issued a hold rating and one has issued a buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $22.80.

Nordstrom Stock Up 0.7 %

Nordstrom stock traded up $0.16 during mid-day trading on Friday, hitting $24.22. The company had a trading volume of 3,698,851 shares, compared to its average volume of 2,597,607. The stock's 50 day moving average price is $24.12 and its two-hundred day moving average price is $23.83. Nordstrom, Inc. has a 12 month low of $19.45 and a 12 month high of $24.99. The company has a market capitalization of $4.05 billion, a PE ratio of 15.43 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 issued its quarterly earnings data on Tuesday, March 4th. The specialty retailer reported $1.10 EPS for the quarter, topping 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 business had revenue of $4.32 billion during the quarter, compared to analysts' expectations of $4.32 billion. As a group, sell-side analysts anticipate that Nordstrom, Inc. will post 1.97 earnings per share for the current fiscal year.

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.