EverSource Wealth Advisors LLC Buys 6,003 Shares of Nordstrom, Inc. (NYSE:JWN)

EverSource Wealth Advisors LLC boosted its stake in Nordstrom, Inc. (NYSE:JWN) by 2,021.2% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 6,300 shares of the specialty retailer’s stock after purchasing an additional 6,003 shares during the quarter. EverSource Wealth Advisors LLC’s holdings in Nordstrom were worth $152,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Spire Wealth Management increased its holdings in shares of 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 during the last quarter. Wolverine Asset Management LLC purchased a new position in Nordstrom during the 4th quarter valued at approximately $63,000. KBC Group NV increased its stake in Nordstrom by 36.5% in the 4th 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 during the last quarter. Kentucky Retirement Systems Insurance Trust Fund purchased a new stake in shares of Nordstrom during the 4th quarter worth approximately $122,000. Finally, Blue Trust Inc. raised its holdings in shares of Nordstrom by 51.9% during the 4th quarter. Blue Trust Inc. now owns 5,832 shares of the specialty retailer’s stock worth $131,000 after acquiring an additional 1,993 shares in the last quarter. Institutional investors own 88.73% of the company’s stock.

Nordstrom Price Performance

Shares of JWN stock opened at $24.23 on Tuesday. The stock has a 50 day moving average price of $24.25 and a 200 day moving average price of $23.46. Nordstrom, Inc. has a 52-week low of $16.79 and a 52-week high of $24.99. The company has a debt-to-equity ratio of 2.65, a quick ratio of 0.35 and a current ratio of 1.14. The firm has a market capitalization of $4.00 billion, a P/E ratio of 15.43 and a beta of 2.60.

Nordstrom (NYSE:JWN) last released its earnings results on Tuesday, March 4th. The specialty retailer reported $1.10 earnings per share for the quarter, topping the consensus estimate 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%. As a group, sell-side analysts predict that Nordstrom, Inc. will post 1.97 earnings per share for the current year.

Nordstrom Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 26th. Shareholders of record on Tuesday, March 11th will be paid a $0.19 dividend. The ex-dividend date is Tuesday, March 11th. This represents a $0.76 dividend on an annualized basis and a yield of 3.14%. Nordstrom’s dividend payout ratio is currently 44.19%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on JWN shares. Argus cut shares of Nordstrom from a “buy” rating to a “sell” rating in a research report on Monday, December 30th. Bank of America boosted their target price on shares of Nordstrom from $20.00 to $22.00 and gave the stock an “underperform” rating in a report on Wednesday, November 27th. StockNews.com started coverage on shares of Nordstrom in a report on Saturday. They issued a “buy” rating for the company. Barclays boosted their price objective on Nordstrom from $23.00 to $24.00 and gave the stock an “equal weight” rating in a research note on Thursday, January 16th. Finally, Telsey Advisory Group reaffirmed a “market perform” rating and issued a $24.00 price objective on shares of Nordstrom in a research note on Wednesday, March 5th. Three research analysts have rated the stock with a sell rating, nine have given a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, Nordstrom presently has an average rating of “Hold” and a consensus price target of $22.90.

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.