Alaska Permanent Fund Corp Purchases 4,493 Shares of Nordstrom, Inc. (NYSE:JWN)

Alaska Permanent Fund Corp lifted its position in Nordstrom, Inc. (NYSE:JWN) by 3.8% in the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 122,593 shares of the specialty retailer’s stock after acquiring an additional 4,493 shares during the period. Alaska Permanent Fund Corp’s holdings in Nordstrom were worth $2,262,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Cooper Creek Partners Management LLC raised its holdings in Nordstrom by 42.4% in the third quarter. Cooper Creek Partners Management LLC now owns 3,908,377 shares of the specialty retailer’s stock worth $58,391,000 after purchasing an additional 1,163,437 shares in the last quarter. Victory Capital Management Inc. increased its stake in shares of Nordstrom by 48.7% during the third quarter. Victory Capital Management Inc. now owns 2,312,694 shares of the specialty retailer’s stock valued at $34,552,000 after purchasing an additional 757,000 shares in the last quarter. Nomura Holdings Inc. lifted its holdings in shares of Nordstrom by 110.2% during the third quarter. Nomura Holdings Inc. now owns 67,243 shares of the specialty retailer’s stock valued at $1,005,000 after purchasing an additional 726,721 shares during the last quarter. Dark Forest Capital Management LP raised its stake in Nordstrom by 2,765.7% during the third quarter. Dark Forest Capital Management LP now owns 447,566 shares of the specialty retailer’s stock valued at $6,687,000 after buying an additional 431,948 shares during the last quarter. Finally, AQR Capital Management LLC boosted its stake in Nordstrom by 29.6% in the 3rd quarter. AQR Capital Management LLC now owns 1,495,469 shares of the specialty retailer’s stock worth $22,238,000 after purchasing an additional 341,491 shares in the last quarter. Hedge funds and other institutional investors own 88.73% of the company’s stock.

Nordstrom Price Performance

JWN stock traded down $0.40 during mid-day trading on Thursday, hitting $18.86. The company had a trading volume of 659,607 shares, compared to its average volume of 4,379,297. The company has a 50-day moving average price of $19.22 and a 200 day moving average price of $17.48. Nordstrom, Inc. has a 12-month low of $12.88 and a 12-month high of $23.53. The company has a market capitalization of $3.08 billion, a price-to-earnings ratio of 24.05, a P/E/G ratio of 2.23 and a beta of 2.59. The company has a quick ratio of 0.41, a current ratio of 1.02 and a debt-to-equity ratio of 3.08.

Nordstrom (NYSE:JWN) last announced its quarterly earnings results on Tuesday, March 5th. The specialty retailer reported $0.96 EPS 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 during the quarter, compared to analyst estimates of $4.38 billion. During the same period in the prior year, the company earned $0.74 earnings per share. The firm’s revenue was up 2.2% on a year-over-year basis. On average, research analysts anticipate that Nordstrom, Inc. will post 1.81 earnings per share for the current year.

Nordstrom Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 27th. Shareholders of record on Tuesday, March 12th were paid a $0.19 dividend. The ex-dividend date was Monday, March 11th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 4.03%. Nordstrom’s payout ratio is currently 95.00%.

Wall Street Analysts Forecast Growth

JWN has been the subject of several analyst reports. Piper Sandler raised their price target on shares of Nordstrom from $17.00 to $20.00 and gave the company a “neutral” rating in a research report on Wednesday, March 6th. Barclays lifted their target price on Nordstrom from $14.00 to $15.00 and gave the company an “underweight” rating in a research report on Wednesday, March 6th. Citigroup decreased their price objective on Nordstrom from $21.00 to $20.00 and set a “neutral” rating on the stock in a research note on Wednesday, March 6th. Jefferies Financial Group reissued a “hold” rating and issued a $17.00 target price (down from $18.00) on shares of Nordstrom in a report on Thursday, March 7th. Finally, Telsey Advisory Group reiterated a “market perform” rating and issued a $19.00 price target on shares of Nordstrom in a research report on Friday, April 19th. Five investment analysts have rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, Nordstrom has a consensus rating of “Hold” and an average target price of $16.54.

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.