Louisiana State Employees Retirement System Makes New $502,000 Investment in Nordstrom, Inc. (NYSE:JWN)

Louisiana State Employees Retirement System bought a new stake in shares of Nordstrom, Inc. (NYSE:JWN) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 27,200 shares of the specialty retailer’s stock, valued at approximately $502,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of JWN. Sowell Financial Services LLC lifted its holdings in Nordstrom by 6.6% in the fourth quarter. Sowell Financial Services LLC now owns 17,097 shares of the specialty retailer’s stock worth $315,000 after buying an additional 1,053 shares during the period. Alps Advisors Inc. boosted its holdings in shares of Nordstrom by 5.3% in the third quarter. Alps Advisors Inc. now owns 35,352 shares of the specialty retailer’s stock worth $528,000 after buying an additional 1,768 shares during the last quarter. HighTower Advisors LLC grew its position in shares of Nordstrom by 3.1% during the 3rd quarter. HighTower Advisors LLC now owns 68,636 shares of the specialty retailer’s stock valued at $1,022,000 after acquiring an additional 2,062 shares during the period. Raymond James & Associates increased its position in Nordstrom by 2.4% in the fourth quarter. Raymond James & Associates now owns 93,076 shares of the specialty retailer’s stock worth $1,717,000 after buying an additional 2,148 shares in the last quarter. Finally, Rafferty Asset Management LLC raised its stake in Nordstrom by 9.4% during the 3rd quarter. Rafferty Asset Management LLC now owns 30,900 shares of the specialty retailer’s stock worth $462,000 after acquiring an additional 2,650 shares during the period. Institutional investors own 88.73% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on JWN. Citigroup decreased their target price on shares of Nordstrom from $21.00 to $20.00 and set a “neutral” rating on the stock in a research report on Wednesday, March 6th. Barclays upped their target price on shares of Nordstrom from $14.00 to $15.00 and gave the stock an “underweight” rating in a research note on Wednesday, March 6th. Telsey Advisory Group reissued a “market perform” rating and set a $19.00 target price on shares of Nordstrom in a research report on Friday, April 19th. Piper Sandler boosted their price target on Nordstrom from $17.00 to $20.00 and gave the stock a “neutral” rating in a research report on Wednesday, March 6th. Finally, The Goldman Sachs Group increased their target price on shares of Nordstrom from $16.00 to $18.00 and gave the company a “neutral” rating in a research report on Wednesday, March 6th. Five research analysts have rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, Nordstrom has an average rating of “Hold” and a consensus price target of $16.54.

Nordstrom Price Performance

Shares of NYSE JWN opened at $19.43 on Tuesday. The firm has a 50-day simple moving average of $19.16 and a 200-day simple moving average of $17.60. The company has a quick ratio of 0.41, a current ratio of 1.02 and a debt-to-equity ratio of 3.08. The stock has a market capitalization of $3.17 billion, a price-to-earnings ratio of 24.29, a price-to-earnings-growth ratio of 2.17 and a beta of 2.59. Nordstrom, Inc. has a 52 week low of $12.88 and a 52 week high of $23.53.

Nordstrom (NYSE:JWN) last released its quarterly earnings data on Tuesday, March 5th. The specialty retailer reported $0.96 EPS for the quarter, beating analysts’ consensus estimates of $0.90 by $0.06. The company had revenue of $4.29 billion during the quarter, compared to the consensus estimate of $4.38 billion. Nordstrom had a net margin of 0.91% and a return on equity of 49.30%. Nordstrom’s quarterly revenue was up 2.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.74 EPS. On average, equities analysts predict that Nordstrom, Inc. will post 1.81 earnings per share for the current fiscal year.

Nordstrom Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 27th. Shareholders of record on Tuesday, March 12th were paid a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 3.91%. The ex-dividend date of this dividend was Monday, March 11th. Nordstrom’s dividend payout ratio (DPR) is currently 95.00%.

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.