Hennessy Advisors Inc. Buys Shares of 2,319,900 Nordstrom, Inc. (NYSE:JWN)

Hennessy Advisors Inc. purchased a new position in shares of Nordstrom, Inc. (NYSE:JWN) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 2,319,900 shares of the specialty retailer’s stock, valued at approximately $56,026,000. Nordstrom makes up about 1.7% of Hennessy Advisors Inc.’s investment portfolio, making the stock its 15th biggest holding. Hennessy Advisors Inc. owned 1.41% of Nordstrom at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Venturi Wealth Management LLC grew its stake in Nordstrom by 355.9% in the third quarter. Venturi Wealth Management LLC now owns 1,272 shares of the specialty retailer’s stock valued at $29,000 after acquiring an additional 993 shares during the period. Point72 Hong Kong Ltd acquired a new position in shares of Nordstrom in the second quarter valued at approximately $71,000. Blue Trust Inc. increased its position in shares of Nordstrom by 57.7% during the third quarter. Blue Trust Inc. now owns 3,839 shares of the specialty retailer’s stock worth $81,000 after acquiring an additional 1,404 shares in the last quarter. CWM LLC raised its holdings in shares of Nordstrom by 28.7% during the third quarter. CWM LLC now owns 3,628 shares of the specialty retailer’s stock worth $82,000 after acquiring an additional 810 shares during the period. Finally, DekaBank Deutsche Girozentrale lifted its position in Nordstrom by 70.5% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 5,387 shares of the specialty retailer’s stock valued at $112,000 after acquiring an additional 2,227 shares in the last quarter. Institutional investors and hedge funds own 88.73% of the company’s stock.

Analyst Ratings Changes

Several analysts have issued reports on the company. Bank of America lifted their price target on Nordstrom from $20.00 to $22.00 and gave the company an “underperform” rating in a research note on Wednesday, November 27th. UBS Group raised Nordstrom from a “sell” rating to a “neutral” rating and upped their price target for the stock from $14.50 to $24.00 in a research report on Friday, January 10th. Evercore ISI raised their price target on shares of Nordstrom from $22.00 to $24.00 and gave the stock an “in-line” rating in a research note on Monday. Argus lowered shares of Nordstrom from a “buy” rating to a “sell” rating in a research report on Monday, December 30th. Finally, KeyCorp downgraded shares of Nordstrom from an “overweight” rating to a “sector weight” rating in a research report on Thursday, September 26th. Three investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $22.17.

Nordstrom Trading Up 0.1 %

Shares of Nordstrom stock opened at $24.14 on Friday. 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 business has a fifty day simple moving average of $23.52 and a two-hundred day simple moving average of $22.78. Nordstrom, Inc. has a 1 year low of $16.78 and a 1 year high of $24.99. The company has a market capitalization of $3.98 billion, a price-to-earnings ratio of 15.37 and a beta of 2.52.

Nordstrom (NYSE:JWN) last posted its earnings results on Tuesday, November 26th. The specialty retailer reported $0.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.22 by $0.11. The company had revenue of $3.35 billion during the quarter, compared to analysts’ expectations of $3.34 billion. Nordstrom had a negative net margin of 1.57% and a negative return on equity of 18.04%. Nordstrom’s quarterly revenue was up 4.6% compared to the same quarter last year. During the same quarter last year, the company posted $0.25 EPS. Research analysts forecast that Nordstrom, Inc. will post 1.95 EPS for the current year.

Nordstrom Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 18th. Stockholders of record on Tuesday, December 3rd were given a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 3.15%. The ex-dividend date was Tuesday, December 3rd. Nordstrom’s payout ratio is 48.41%.

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.