Gabelli Funds LLC Buys New Holdings in Nordstrom, Inc. (NYSE:JWN)

Gabelli Funds LLC purchased a new position in shares of Nordstrom, Inc. (NYSE:JWN) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 84,100 shares of the specialty retailer’s stock, valued at approximately $2,031,000. Gabelli Funds LLC owned about 0.05% of Nordstrom at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of JWN. Spire Wealth Management increased its position in Nordstrom by 90.9% during the 4th 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 stake in shares of Nordstrom in the fourth quarter worth $63,000. Vestcor Inc acquired a new stake in shares of Nordstrom in the fourth quarter worth $63,000. Atlas Capital Advisors Inc. raised its stake in shares of 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 acquiring an additional 1,391 shares during the period. Finally, KBC Group NV lifted its holdings in shares of Nordstrom by 36.5% during the 4th quarter. KBC Group NV now owns 4,816 shares of the specialty retailer’s stock valued at $116,000 after acquiring an additional 1,287 shares in the last quarter. 88.73% of the stock is currently owned by hedge funds and other institutional investors.

Nordstrom Stock Performance

Shares of JWN stock opened at $23.86 on Friday. The stock has a market capitalization of $3.99 billion, a price-to-earnings ratio of 15.20 and a beta of 2.31. Nordstrom, Inc. has a one year low of $18.48 and a one year high of $24.99. The company’s 50-day simple moving average is $24.16 and its 200-day simple moving average is $23.70. The company has a debt-to-equity ratio of 2.65, a quick ratio of 0.35 and a current ratio of 1.14.

Nordstrom (NYSE:JWN) last issued its earnings results on Tuesday, March 4th. The specialty retailer reported $1.10 EPS for the quarter, topping the consensus estimate of $0.90 by $0.20. The company had revenue of $4.32 billion during the quarter, compared to analyst estimates of $4.32 billion. Nordstrom had a negative return on equity of 18.04% and a negative net margin of 1.57%. Equities analysts anticipate that Nordstrom, Inc. will post 1.97 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have commented on JWN. Evercore ISI raised their price objective on Nordstrom from $22.00 to $24.00 and gave the company an “in-line” rating in a research report on Monday, January 13th. Argus downgraded Nordstrom from a “buy” rating to a “sell” rating in a report on Monday, December 30th. Telsey Advisory Group restated a “market perform” rating and issued a $24.00 price target on shares of Nordstrom in a report on Wednesday, March 5th. UBS Group upgraded shares of Nordstrom from a “sell” rating to a “neutral” rating and lifted their price objective for the company from $14.50 to $24.00 in a research note on Friday, January 10th. Finally, Citigroup restated a “sell” rating and issued a $22.00 target price (down from $25.00) on shares of Nordstrom in a research note on Friday, April 4th. Four research analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, Nordstrom has a consensus rating of “Hold” and an average target price of $22.80.

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.